Friday, March 04, 2011

Friday Evening Financial...............
Better get used to the idea that - "We're Boned" .

Monty at Ace of Spades posted his thoughts on this Karl Denninger post on Social Security and Medicare.

Per Denninger- "It's a common mantra: I paid into it, and there's a trust fund for these programs.

Well, you paid. But it was just a tax. I've written on this before, so I won't go over it again. I don't need to.

But on the "Trust Fund" argument, we do need to go over it, because it's clear that few people understand it."


It's very instructive and depressing.
There is no way in hell that this shit is gonna be fixed.

And that means? You guessed it................. We're Boned. Both Young and Old Folks.

Go read. Both are very short & worth your time.

Gratuitous Picture for a Friday Evening-



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