Interesting to note that with the national debt now equivalent to our GDP, the government is contemplating all sorts of schemes, such as gradually increasing the retirement age, cuts to Medicare and Social Security, and increasing payroll taxes consistent with the European model. Glaringly absent is any suggestion that we reduce the spending of our generous welfare state with cuts to entitlements and Medicaid. Rather ironic, the suggestion that we increase the retirement age in the face of falling life expectancy and increasingly difficult access to healthcare. The plan appears to be to leave the entitlements intact but continue to squeeze the maximum revenue out of the productive members of society, then give them nothing in their retirement years, shortened as they are trending to be.
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