Michael Tennant, at New American, tells us that the aging of the Baby Boomer generation spells doom for the American economy because the Federal government cannot possibly keep its obligations without drastically raising taxes or creating so much money that runaway inflation will set in:
For Medicare, says CBS News:
- The number of people eligible will nearly double from 46 million to 80 million by the time all the boomers reach 65.
- It’s estimated the cost will grow from $500 billion a year today to $929 billion by 2020.
- The number of workers supporting each senior will fall.
All of this adds up to one gaping hole in the federal budget. Medicare’s unfunded liability runs as high as $38 trillion over the next 75 years — ObamaCare does nothing to remedy this and will probably worsen it — and the program may go bankrupt by 2017. What to do about it?
The obvious answer, as CBS News points out, is for Americans “to work longer and get used to less government help.” Unfortunately, the reality of the situation has not yet penetrated the skulls of voters, says the report:
Yet Americans still, apparently, want it all. According to a new Associated Press/GfK poll, they don’t want to raise the age for Medicare.
Sixty-one percent favor raising Medicare taxes to avoid cutting Medicare benefits, and a majority of both Democrats and Republicans, young and old, would rather raise taxes than cut benefits.
How high would taxes have to go to keep afloat Medicare — and Social Security, which faces a $5.3 trillion shortfall over the next 75 years and has already begun cashing in the federal IOUs in its phantom trust fund? Former Treasury Department economist Bruce Bartlett calculated in 2009 that “federal income taxes for every taxpayer would have to rise by roughly 81% to pay all of the benefits promised by these programs under current law over and above the payroll tax.”
Are Americans prepared to pay such astronomical amounts of taxes? If they refuse to permit eligibility age increases or benefit reductions as well as the taxes necessary to sustain current benefit levels, there will remain only the options of more debt — almost certainly more than anyone would be willing to lend the U.S. government — and runaway inflation. The outlook — Franklin’s “end of the republic” — is grim indeed.
As I write this, there is one comment on the above article and it states:
Interesting observation on apparent and likely conditions. However, there is much more behind the scenes than meets the eye. A current political social and political problem may finally become the solution. After pressing for responsible family planning for more than a generation, we may soon hear that much greater immigration is needed to pay the support for the baby boomers. And the lost generation of boomers with inadequate children to support them may ditch their race and class for the hope of an easy retirement. Not right by any standard, but surprisingly logical and maybe even possible!
Yes, very logical indeed – if your goal is to replace the population of the U.S. and turn it into a third world country. The commentator is right that the double whammy of family planning and badly managed mandatory “social security” might force remaining whites to either give up on their elderly or give up their nation.
If this were a game of chess, then those who seek the dispossession of whites would be saying “checkmate”. But the Japanese are showing that there are other options. Japan is at the cutting edge of robotic technologies that promise to make life much easier for an aging population. If we can mass produce robots that can dress us, feed us, call for medical help in an emergency, shop for us or even keep us company – then do we really need to import millions of aliens to do these things for us? As for the money, I do not believe it is the quantity of money that matters. Rather, it is the quality of care and, if quality care can be provided cheaply, then we can turn the tables on our enemies. It is worth mentioning that robots are not likely to abuse their charges, nor to steal from them or neglect them. They are also not likely to make us feel like aliens in our own lands.