Eps 0294 - Supporting Entitlements into the Future will Lead to Spectacular Collapse!

People have been wringing their hands around the future of government programs like Social Security, Medicare, and Medicaid for decades, but now "Baby Boomers" are retiring at a rate of 300,000 per month, every month for the next 20 years. The very demographic that enabled the profligate spending in the first place will now play a central role in bringing it to its end. Without a huge increase in the payroll tax or a major cut in benefits, these FDR-era favorites will come crashing down. Of course, if the government chooses to go the monetization route it would delay the inevitable but then cause other much larger problems with inflation. There is just no good way to escape the consequences of bad economics, even though they have been delayed for a very long time. Join me today as we look at another brilliant episode from John Stossel to get a sense of the difficult decisions surrounding these so-called "entitlements".

When America promised to take care of us old people, politicians basically lit the fuse on a stick of dynamite. Ticking Time Bomb: Social Security & Medicare Are Broke - YouTube