AND HIS CLONE REALIZES THAT the stimulus won’t stimulate much, mortgages the future of the nation with our only substantial enemy in the world holding the note, and is pretty much assured to drive the economy into the big tank.
Oh, well. Seemed like a good idea at the time to somebody, right?
Well, they pretty much had to do something, din’t they?
No. They had to be seen to be doing something. And since there wasn’t anything they could do about the problem at hand, they put together a grab bag of all their wishlists for the last thirty years and threw it into the mix.
And this is how you and I have been working all our lives and putting money into a Ponzi scheme, (a.k.a. Social Security), from which we are unlikely to see one thin dime…
Well, let’s see. I’m eligible to retire — by today’s rules — in 2019. Care to place a bet that between now and then, we’ll have another 90% erosion in the purchasing power of the dollar — as we did in the ’70s? Care to place a bet that between now and then, our monetary system will collapse or degrade to the point that the United States government becomes insolvent — effectively bankrupt — and has to repudiate all debts? Or, at least, they’ll push back the age of retirement before then? (Finger in the dike action though it be.)
They can’t do that! Any of it!
Why not? The profligate ways of the looter class may force them into it. For sure the producer class can’t continue to support this, and sooner or later, either creditors will stop accepting promissory notes or will call them in. Either way, the whole house of card collapses. At which point, whither Social Security?
But my point. We have foisted a similar burden off onto future generations as was foisted off on us by the depression generation.
You can’t know that they…
Oh, they knew it was wrong. They knew it was unsustainable. They knew it was forbidden by the Constitution. Why do you think Roosevelt threatened to pack the Supreme Court? His programs were being scotched at every turn in the courts — as (properly) unconstitutional. So he threatened to change the game and the courts buckled. He should have been impeached and removed for violating his oath of office. But the Beltway crowd have always been reluctant to enforce those oaths, since before there was a beltway.