GREY:SGLRF - Post by User
Post by
qwqwon Jul 14, 2013 8:08am
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Post# 21606361
US Debt
US DebtWe all know the US has a debt problem with $16 trillion of Federal Debt.
The problem is a lot worse than that,ever heard of unfunded liabilities.
That's a nice way of saying there's no money set aside for pensions and
healthcare for all the baby boomers ready to retire.Up until now
the number of pensioners was quite low (thanks to smoking no doubt)
and yet government still found away to go in the hole (Ingenious devils).
Now just imagine having to support all those boomers.If a person makes
it to 95 that's 30 years of pension and healthcare,that could cost over
$1 mil for that pensioner.Now factor in lower birth rates and Houston
we have a problem.
The retirement age of 65 was actually started by Otto Von Bismarck
(my middle name just happens to be Otto,taken from my father)
of Germany back in the 19 century.In Bismarck's day how many
were living past 65? Not too many,they have a nasty habit of dying
in wars. Don't be surprised if 65 turns into 75 or 85 or 95.