Saturday, October 15, 2005

The choices on intergenerational transfers

The Conspiracy to Keep You Poor and Stupid
Thanks to The
Conspiracy to Keep You Poor and Stupid: "Unless Social Security, Medicare, and Medicaid are reformed, lawmakers face three options:
A) Raise taxes every year until taxes are 60 percent ($11,000 per household) higher than today.
B) Eliminate every federal program except Social Security, Medicare, and Medicaid by 2045; or
C) Do nothing and watch the federal debt expand so much that even a minor interest rate response would induce a
spiral of rising debt and interest rates, threatening the entire economy.
This is no scare story. This is real Reidl has all the facts and figures. Read the whole thing. If you have a strong stomach and a stiff drink."

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