When the boomers lose their pensions. That's when it will get violent.
2012 election? Unfortunately, it's already been decided... FAST! Odumbo's $9 TRILLION in deficits will see to it. (Can you imagine... even with Reagan's deficits for both "guns and butter"... and Bush's unconscionable deficits to fund his Lil' Dictator private wars... the National Debt was $9 Trillion after 235 years of history. Odumbo has DOUBLED the National Debt in only 4 years... Yeah, I know... not officially "there yet".. but with they $2.4T Congress authorized last year + the additional $1.2T Odumbo just asked for... pretty close to $9T by the end of his term.)
Then again, I suppose they could come up with a way for us to go down the tubes even faster...
perhaps it would go faster if obama would follow scott adams' adage never underestimate the stupidity of the american public.Quote from Scataphagos:
2012 election? Unfortunately, it's already been decided... FAST! Odumbo's $9 TRILLION in deficits will see to it. (Can you imagine... even with Reagan's deficits for both "guns and butter"... and Bush's unconscionable deficits to fund his Lil' Dictator private wars... the National Debt was $9 Trillion after 235 years of history. Odumbo has DOUBLED the National Debt in only 4 years... Yeah, I know... not officially "there yet".. but with they $2.4T Congress authorized last year + the additional $1.2T Odumbo just asked for... pretty close to $9T by the end of his term.)
Then again, I suppose they could come up with a way for us to go down the tubes even faster...
OMG.
I just realized current pensions are paid by current taxes. In a depression taxes goes down hard, so pensions will go down hard also.
And those states with the large pension obligations, what do you think they are CURRENTLY doing? They cut services, stiff their suppliers, delay payments for months, years owed to companies due their money for either services, taxes, medical payments, etc, etc...and on top of all that they go ahead and raise taxes.
Hey, but the nightly news tells me we aren't in a recession and a few of the brightest minds on ET have told me the same thing, so I completely believe them.
America's going down the drain... only 2 questions.
1. How long will we maintain before the revolution
2. Will the military and police side with the government and turn on the citizenry or will they side with the people and turn on the government?
1. How long will we maintain before the revolution
2. Will the military and police side with the government and turn on the citizenry or will they side with the people and turn on the government?
My Mother In Law once pointed out that her pension is guaranteed by the State Constitution...she doesn't seem to notice that the CA state constitution changes through ballot measures on a fairly regular basis.
It's irrelevant anyway. Governments can't legislate reality. Whether its guaranteed by the constitution or not, if there isn't any money the pensions won't be paid. Sooner or later, lots of municipalities and some states will be paying over 50% of their tax revenues for pensions. It is delusional to think that taxpayers will pay high taxes when most of the taxes are just being used to pay for pensions instead of basic government services. Who's going to be willing to pay taxes when the schools are all closed, and there are no police left on the payroll?
I'm not saying taxpayers will evade taxes. They will emigrate out of the jurisdictions with the large pension burdens (remember these places will not be able to provide basic government services like schools, police and fire.). Governments (such as municipalities) will declare bankruptcy where possible. New politicians will eventually get elected, who will pass laws that cut the pensions. Judges who find that cutting the pensions is unconstitutional or illegal will get impeached or replaced (through elections and appointments) over time. Eventually one way or another the pensions will get cut, because no one is going to be willing to pay.
The public employees are in the minority. As governments have to cut payroll to meet mounting pension obligations they will become even more of a minority and the public employee unions will lose political power.
It's irrelevant anyway. Governments can't legislate reality. Whether its guaranteed by the constitution or not, if there isn't any money the pensions won't be paid. Sooner or later, lots of municipalities and some states will be paying over 50% of their tax revenues for pensions. It is delusional to think that taxpayers will pay high taxes when most of the taxes are just being used to pay for pensions instead of basic government services. Who's going to be willing to pay taxes when the schools are all closed, and there are no police left on the payroll?
I'm not saying taxpayers will evade taxes. They will emigrate out of the jurisdictions with the large pension burdens (remember these places will not be able to provide basic government services like schools, police and fire.). Governments (such as municipalities) will declare bankruptcy where possible. New politicians will eventually get elected, who will pass laws that cut the pensions. Judges who find that cutting the pensions is unconstitutional or illegal will get impeached or replaced (through elections and appointments) over time. Eventually one way or another the pensions will get cut, because no one is going to be willing to pay.
The public employees are in the minority. As governments have to cut payroll to meet mounting pension obligations they will become even more of a minority and the public employee unions will lose political power.
Totalitarianism and fascism won't fly in the US. Count on it. Current decision by Supreme Court (9 -0) against Obama administration intrusion on religious liberty is the first sign.
I don't think we'll ever have a second revolution. Just my personal opinion.
But I do know the following factually:
(1) There are 90 guns in America for every 100 citizens
and
(2) In times of great distress or chaos, many of us will rally around the document we hold dear - the US Constitution.
-CTA