Mothers Against Debt Video

This is the first of what will probably be multiple videos. The politicians in Washington D.C. clearly do not care what sort of hardships they are saddling on our children and grandchildren as a result of all this out of control government spending. Fortunately, the Mothers of America are stepping up and raising their voices. Which political party is going to listen first?

And check out the U.S. Debt Clock:

U.S. Debt Clock

Given that we are being forewarned about the economic catastrophe we are heading into, no one, especially the politicians who are currently in power, should be the least bit surprised by it nor should they make any attempt to assign blame to anyone else.

4 Responses

  1. But what is the solution to the debt problem? In reality, the answer is either raise taxes and/or make huge (and I do mean HUGE) cuts in benefits like Social Security, Medicare, and Unemployment.

    Most of the non-painful solutions (get rid of earmarks, make government more efficient, get rid of foreign aid) are meaningless drops in the bucket.

    • The HUGE cuts are the way to go. We phase Social Security out over time and let people make their own choices for their own retirement. Social Security was originally designed to be a safety net, not a hammock. That is, it was never meant to be a retirement account. Thus, it has outlived its usefulness and is now more of a mulch cow for politicians who want ready money for their pet-peeve projects. Congress has been raiding the SSA coffers over the years (issuing an IOU each time) and the SSA is now calling for those IOUs to be paid. Since there is no money to pay off the IOUs, it simply gets added to the National Debt. Social Security (among other entitlement programs) has got to go. Our children are not going to see any benefit from it so why should they be made to pay for it?

  2. Should the government then abridge it’s promises of social security? If not, we are probably talking about not phasing it out for 50 years.

    But also note, this implies also phasing out social security taxes, with the equivalent reduction in income to the government. So the net gain will not be the cost of social security, but instead the cost of social security less social security taxes. A much smaller number.

    • Yes. The government is making a promise that it cannot keep. Further, in order to keep up the illusion that it can keep the promise, the government is taking money from younger people and giving it to older people. This is known as a Ponzi scheme and it is completely unsustainable. In fact, Bernia Madoff was convicted of doing this and his crime was nowhere near the scale of the SSA scheme.

      Government is making the promise, but forcing the taxpayer to sustain that promise. The taxpayer can no longer be burdened with paying for an unsustainable scheme. SSA must be done away with.

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