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Author Topic:   Occupy Wall Street, London and Evereywhere Else
Coyote
Member (Idle past 2134 days)
Posts: 6117
Joined: 01-12-2008


(1)
Message 158 of 208 (643797)
12-11-2011 9:34 PM
Reply to: Message 156 by crashfrog
12-11-2011 8:57 PM


Re: Young and Educated versus Old and Entitled
I don't understand what happened to the Baby Boomers that caused them to turn on their own kids and grandkids, but its pandemic at this point. Generational warfare has already begun; it was declared when we started diverting funding for higher education and public schools to preserve Social Security and pensions.
Certain things were promised to various groups of people; medicare, social security, pensions, etc. In many cases those people paid part of the costs for many years. They (rightly) expect those promises to be kept!
But for a variety of reasons the system broke. One major fault is politicians who exchange promises of benefits for votes--promises made far beyond anyone's ability to deliver. Another is public employee unions who exchange votes and campaign funds for promises of future benefits, then negotiate those benefits with the same politicians they supported. Another is that the funds collected were paid out to a higher degree than they were invested--in non-government circles this is called a ponzi scheme. When politicians kept promising benefits to those who won't work, and made it more attractive to collect benefits than to work, they subsidized the exact opposite of what we need--more good workers who earn a decent living and pay taxes to support those who legitimately can't work!
Throughout this there was little thought as to how these promises could be paid for. The can was simply kicked down the road through increasing debt. Well, that debt is coming due.
At this point I see no good solutions, but I'm certainly not going to rely on politicians' promises for my retirement. Nor will I believe any of their promises in the future.

This message is a reply to:
 Message 156 by crashfrog, posted 12-11-2011 8:57 PM crashfrog has replied

Replies to this message:
 Message 160 by crashfrog, posted 12-11-2011 11:34 PM Coyote has not replied

  
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