The national deficit is too great for entitlement programs like Social Security and Medicare to escape unharmed. That means an impact is looming on many Middle Class Americans who may not be expecting it. WSJ’s Neil Hickey reports.
July 12, 2011
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Dollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries." -Bill Gross
Initial Jobless Claims for the week ended Feb 18th totaled 351k, 4k less than expected but the prior week was revised up by 3k to 351k. The 4 week average did fall to 359k from 366k, the lowest since Mar '08. Continuing Claims fell by 52k to the lowest since Aug '08. Also, Extended Benefits fell a net 69k. Bottom line, the data still points to a labor market that continues to improve however lumpy the process feels for many. ...
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July 19th, 2011 at 7:01 am
WSJ Hobbesian propaganda.
The military needs to be cut $300B a year off the 2012 level; too much debt, what is left to defend but the equity of the creditors?
Why protect the creditors when the entitlements are gone?
Did the founders see protecting foreign creditors as “common defense”?
July 19th, 2011 at 9:31 am
“cut $300B” yes but .. the MIC are jobs for mining, manufacture’g, shipping, soldiers .. you know that .. just wanted to remind
our economy has been built on a foundation of war so deeply that depression and deleverage’g are just about inescapeable .. yada yada yada .. you can lead a horse to water but you can’t make him drink .. it ain’t gonna happen / but I wish folks would redesign the human existance contract for the future
July 19th, 2011 at 9:37 am
There will be violence the middle class gets whacked and defense and wall street walk. I really dismiss most ow the wsj anymore. Did you noted today they say no to a balanced budget amendment? They are not serious.
50% of the people on social security say they are not the beneficiary of a government program. When they find out government is their check, not good.
In Omaha at a tea party rally at the city park they complaibecauseuase the bathrooms are clobecauseasse there is no one to clean them. The tea party said they shouldopenopne for their party and weekends, the city responded, rant a porta-potty.
July 19th, 2011 at 11:34 am
Since when is living in a 3000-4000 sq ft home considered “middle-class”. Those houses pictured were HUGE.
July 19th, 2011 at 3:43 pm
It’s hard for me to imagine that anyone my age (early 40s) actually believes they’re getting anything from SSA, Medicaid or Medicare. We’ve known they are bankrupt ponzi schemes for over 10 years now.
July 19th, 2011 at 8:12 pm
It looks like it needs to be repeated, again, that Social Security does not contribute to the deficit. Therefore its “escape” or lack thereof from discussion over the deficit will be completely political in nature.
July 20th, 2011 at 8:19 am
patient renter – pretty much agree “does not contribute to the deficit” .. it does if the cash is spent outside the US economy .. I don’t have an idea how to require spending SSI inside of country on products built inside the USA … beyond that most SocSec recipients are not going for European vacations, probably spent on stuff built overseas (can’t help it*) – but mostly on food and utilities manufactured here
(* probably stuff built by USA corporations in foreign lands so there is some return back to our shores – for shareholders and exectutive boards – to re-spend in their world theatre)