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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 399.01

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Dec 19 4:00 PM EST

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To: Haim R. Branisteanu who wrote (46447)	2/15/2009 10:18:16 PM
From: KyrosL	1 Recommendation Read Replies (2) of 218617

US obligations, as described by some, are highly misleading. The US has a younger, growing population, while Europe has an older declining population. US obligations, such as social security and Medicare are less than equivalent European obligations. European pensions are both far more generous and given at an earlier age on the average, plus Europeans live longer than Americans. Finally, European taxes are much greater than American taxes as a percent of GDP. The US can solve its theoretical obligations gap by simply adopting one or more of the many European taxes it does not have, such as a huge gasoline tax, a gigantic sales (or value added) tax, and a much higher income tax. Let us not forget that just 8 years ago, the US was on the verge or a balanced budget, including Social Security obligations, and the projection was that within the decade all of US public debt would have been extinguished. Bush's tax cuts and wars changed that of course.

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