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|User Info||Why We're Headed For A Collapse; entered at 2010-12-10 10:34:30|
Registered: 2009-10-09 The Distant, Glorious, Past
That's great, and clawbacks of ill-gotten gains from 2003-present in the FIRE sectors are warranted.
Yet if you confiscated all of their assets and income, you could not fund the USA budget for one year. 90% of the banker bonuses is only a 200 billion or so.
The hole is almost 2,000 billion.
That means DoD, Medicare, Medicaid, Soc Sec and Welfare need to all be cut -40% or more. Revenue is 2,300 and expenditure is 3,900. 23/39=.59.
The deficit is just going to get worse. That 200 b structural that existed pre-2000, that became 600 b structural under G.W., that became 1,600 b structural under Obama, is going to become...what?
What nightmare figure will it be in 4 years? 8 years? 2,400 B? 3,000? 4,000?
100 Billion a week?
The boomers are retiring.
NOW. Today. 2011-1946=65. Recall the budget went south in 2008, when they turned 62. As they age the costs will explode.
Time is up.
Costs will only explode from this moment forward.