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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Les H who wrote (254241)6/15/2010 10:48:40 AM
From: RetiredNowRead Replies (3) of 306849
 
We're all screwed, but all of you are proving my point about Boomers. I can see the massive defense of Boomer Entitlement is already getting ramped up on this thread.

Now here's the fact. We can't afford Entitlement spending. And you all prove my point. The US is unwilling to cut Entitlement spending, because the Boomers will say they deserve that Entitlement spending and they'll play poor victim even as they bleed our Treasury dry with the massive Entitlement spending that is going on.

Fully 2/3rds of our current deficit is caused by Entitlement spending. So any serious effort at cutting the deficit will have to make cutting Entitlement spending the top priority.

Just watch the Boomers block that move with their last breath, though. Guaranteed they won't let that happen, which means the only plausible action left to bring deficits back in line is a debt default after lenders refuse to lend the US any more money.
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