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<p>[QUOTE="Cloudsweeper99, post: 1179906, member: 3011"]I think it's a mistake to include unfunded entitlements. They aren't the same as debt because they can be eliminated by the stroke of a pen, and eventually will be. For example, if you increase the age at which folks collect social security and medicare by a year, you receive one more year of payments and eliminate one more year of benefits to the entire population. A simple move like this, which eventually will be forced, instantly eliminates a very large portion of the unfunded liabilities. There are other things that can be done also such as means testing. It's going to happen because it has to happen whether the current crop of politicians do it or not. State and personal debt will be defaulted/restructured at some point and state employee benefits will be cut. It's already happening. </p><p><br /></p><p>The point is that even though the doom and gloomers won't like it, the current problems will be solved over time and society will not collapse. I know those folks are going to miss the opportunity to live in their bunker and defend their stash of canned goods to the last bullet, but that's just the way it is.[/QUOTE]</p><p><br /></p>
[QUOTE="Cloudsweeper99, post: 1179906, member: 3011"]I think it's a mistake to include unfunded entitlements. They aren't the same as debt because they can be eliminated by the stroke of a pen, and eventually will be. For example, if you increase the age at which folks collect social security and medicare by a year, you receive one more year of payments and eliminate one more year of benefits to the entire population. A simple move like this, which eventually will be forced, instantly eliminates a very large portion of the unfunded liabilities. There are other things that can be done also such as means testing. It's going to happen because it has to happen whether the current crop of politicians do it or not. State and personal debt will be defaulted/restructured at some point and state employee benefits will be cut. It's already happening. The point is that even though the doom and gloomers won't like it, the current problems will be solved over time and society will not collapse. I know those folks are going to miss the opportunity to live in their bunker and defend their stash of canned goods to the last bullet, but that's just the way it is.[/QUOTE]
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