Social Security was invented during the Great Depression for a reason. Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
It's not so clean when you add the political consideration. Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin
There is nothing wrong with letting private pension plans collapse that higher public pensions cannot solve.
Maybe Americans need to have their collective 401(k) investment cleaned so they realise that the "state pension insolvency crisis" was a bogus argument...
Obama is now playing Hamlet. I fear he will become Tony Blair and that the Democrats will become NuLab. As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
For that matter, last time I checked, sovereigns presiding over even remotely functioning economies cannot be insolvent, full stop. And if the economy isn't even remotely functioning, what's the chance that private pension plans are solvent anyway?
Now, here's an idea: What about y'all confiscate all the 401(k)s and all future revenues going into them, and set up an equitable public pension scheme instead? If that's insolvent, then sure as Hell the 401(k)s are insolvent. And if it's not, then what's all the squealing about public pension plan insolvency about?
- Jake If you only spend 20 minutes of the rest of your life on economics, go spend them here.
What is the public pension insolvency crisis?
I fear that too many of the Democrats are unwilling to take it on because they need contributions from the same people who are financing and benefiting from the work of these "think tanks." That is why campaign finance reform needs to be rammed through before they start on the really difficult stuff. As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
I fear he will become Tony Blair and that the Democrats will become NuLab.
I (unfortunately) refer you to many similar comments made by UK posters before the election. Any idiot can face a crisis - it's day to day living that wears you out.
