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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (252762)	6/2/2008 4:16:05 PM
From: carranza2	Read Replies (1) of 793914

Politicians conveniently forget that there is another crisis of which they are acutely aware, a crisis which is stealthy but no less important than the ongoing devaluation through inflation of the dollar - the fiscal crisis. No pol wants to talk about it because he will be long gone by the time its effects are felt some 15-20 years from now. On a net present value analysis, the government and corporations have unfunded entitlement and pension liabilities in the trillions of dollars. Yes, unfunded. Perhaps unfundable if things go as they appear to be going. With boomers retiring and leaving fewer workers than the boomer generation to shoulder the debt burden, this means that we are headed for a fiscal catastrophe. Unfunded liabilities in the trillions plus fewer workers to produce the income to fund them is not a good thing. Unless serious steps are taken now, these unfunded public and private liabilities will eat up our income in the next 20 years or so to a point that most income will be used to pay off debt. You can forget about improving lifestyles or taking care of aging infrastructure. It means our country will slide into mediocrity. Add peak oil and the long lived real estate and credit crashes to the mix, and the economic future does not look very good for us. Take an hour or so to take this 'course' for a glimpse of what we face. The first few videos are a bit simplistic, but do not despair. chrismartenson.com I think it is our civic duty to recognize these problems we face so that something might be done about them before it is too late. I actually believe it is mor than a civic duty but indeed a moral duty we owe to the future generations which will feel the pain of our fiscal profligacy. But we must first recognize the problem, and very few have a clue.

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