Tag Archives: social security
Obama threatens Social Security default
He hasn’t said it directly. But anyone who watches finances carefully knew that sooner or later, it would come up. Social Security is an unsustainable monster that must be put down, but even talking about giving it a haircut instantly angers a whole bunch of retired voters. Still, it’s simply not workable long term, and [...]
we all admit the existence of exploiters
I’m in the awkward position of being a pretty radical libertarian. Given the opportunity, I would whittle down government interference in the economy down to zero. And by government interference in the economy, I mean any attempt to redistribute income by force from the rich to the poor, or from the poor to the rich. [...]
Posted in economics Also tagged healthcare, libertarianism, marxism, ponzi scheme, poverty, the left wing, the right wing, walmart, war on drugs, zoning laws 2 Comments
in the news
In no particular order, the news I found interestingest today: Related Posts:More on Egypt, etc.we all admit the existence of exploitersRepublicans: Repent or Perish!Gary North’s “Government by Emergency” — A ReviewMessing with Pakistan
The faces of interventionism: Paul Krugman and the ban on eggs by the dozen
[UPDATE below] Despite the fact that Obama has run up the greatest deficits in US history, running us into severe debt at about 1.4 trillion of debt per year and 2.9 trillion in new social security obligations per year, the senseless Nobel prize winner has decided that we’re headed into our country’s third depression because [...]
Posted in economics Also tagged 1873, currency policy, eggs by the dozen, european union, gold, grayson lilburne, inflation, mises institute, national debt, nobel prize, obama, paul krugman, the deficit, the trade cycle, unfunded liabilities 1 Comment
Revising the national debt stats
Thanks to Bob Murphy, I’ve found the US Treasury’s account of the hidden social security deficit. It can be found in a pdf here, and I’ll be using figures from the last page. To begin to understand the idea of a social security deficit, we have to understand that Social Security is for practical purposes [...]
Posted in bloated government Also tagged national debt, statistics, unfunded liabilities, unfunded social security outlays Leave a comment
Gary North’s “Government by Emergency” — A Review