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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (218713)	2/10/2005 9:26:35 PM
From: combjelly	Read Replies (2) \| Respond to of 1574096

"It's funny how all of you ignore the definition of bankruptcy that can be found in any dictionary." Snow is a liberal now? Have you told him yet? I am not ignoring the definition, nor am I making things up. It just doesn't apply here. But, ok. Say that SS is going to go bankrupt in 2042. Flat broke, they close the doors and turn off the taps. The only thing we know about the Bush proposal is that we would have to spend several trillion dollars, starting very soon, to not fix that problem. It would, in fact, accelerate the drop dead date. As a result of the privatization(personalization, empowerment, self-actualization or whatever the hell it is that they are calling it this week), some people would be getting some money, but almost everyone will be worse off. Except for the ones that don't need it, of course. It is going to take even more money and no one, least of all the Bush Administration, is saying how much, to actually fix the problem. And there is a huge bomb ticking there called our deficit. We don't have the slightest clue when, or even if it will go off. The last time it did, the deficit was only running a hundred billion or so a year and it was a mess. The stock market was almost flat for over a decade. Inflation was up, unemployment was up, businesses were going bust right and left. True, the oil embargo didn't help much, but it was happening anyway. You might relish the possibility of stagflation and a return to the misery index for whatever morbid reason, but I went through it once and it was enough, thank you very much. Admittedly it could have been worse, as bad as it was, it wasn't a patch on the Great Depression, but I personally don't want to see if we can't exceed that lofty standard this time around. All it would take is some country like China to decide they don't want our bonds any more. Or Japan. Or Korea. Or Germany. ustreas.gov And the bomb goes off. This time around we can't say we didn't know it would happen, because we do. We saw it last time. God only knows what we will have to do to dig our way out the next time around. Compared to then, hours worked per week are up, vacation days per year are down, holidays per year are down, middle management is pretty much extinct... I guess we can make progress in bringing the under 16 age group into the job market. The 70 and over group is also under-represented. Who really needs a weekend...