Dean Baker: USA Should Default To Save SS and Medicare

[TraDaToR]

Quote from FightTheFuture:

No, he's a Progressive thinker driven only by ideology.

ie. he never had a real job.

 

[Debaser82]

Quote from TraDaToR:

ie. he never had a real job.

So he is an economist afterall.

 

[clacy]

Obviously this guy is a moron. If we default, how in the hell would we borrow enough money to save SS? The vast majority of our debt is from very recent history (2008-current), and we continue to accumulate massive amounts.

The only way to keep the ponzi scheme rolling further is to have drastic enough spending and entitlement reform, to squeeze another 30-50 years out of it.

Regardless, long term it is unsustainable.

 

[dtan1e]

Quote from Debaser82:

So he is an economist afterall.

thats a good one

 

[Debaser82]

Quote from clacy:

Obviously this guy is a moron. If we default, how in the hell would we borrow enough money to save SS? The vast majority of our debt is from very recent history (2008-current), and we continue to accumulate massive amounts.

The only way to keep the ponzi scheme rolling further is to have drastic enough spending and entitlement reform, to squeeze another 30-50 years out of it.

Regardless, long term it is unsustainable.

You just scratch a few zero's of your notes.

It's been done a million times by a million countries.