Wednesday on his blog,Peddling into the Wind, a friend posted the most frightening thing I've seen in a long long time. It is a presentation by the outgoing Comptroller General of the United States, David M. Walker.
I will cut to the chase for those of you who don't want to read the whole thing... If we don't implement fiscal sanity NOW, we are scr3wed, and so are our kids (and possibly all of our "posterity"). If you doubt my synopsis I recommend you look hard at slides 6 and 7. On slide 6 we see that the Social Security and Medicare benefits have grown by 213% from 2000 to 2007 (that's an annual growth rate of over 11%!), and on slide 7 we see that the burden per household has risen to nearly 9.5 times the annual household income.
The only possible solution is exactly the one the Honorable Mr Walker recommends, it's his title: "Tough Choices Today". Anything else is cowardice.
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