So I am having this nightmare. It goes like this.
I am 30 years older -- which means I'm well into my 80s. I'm standing there with my cane, drooling saying “I told you so.”
The next moment I become fertilizer spread all over the ground to grow new plants for biofuels for your grandchildren.
OK it's really not a nightmare. I saw this during the daytime. No I wasn't drinking. I was reading and watching television news. This is the same nightmare -- or terror -- all of us -- who are over 48 years old -- will be facing soon.
I saw this while watching the news coverage of the special election in Florida in Pinellas County. The cable news stations -- MSNBC and FOX News -- spent all their time analyzing who who won and who lost and why. As usual, they missed the real story. The real loser was America. The election was a so-called referendum on Obamacare. It should have been a referendum on Medicare.
No candidate, political analyst, or campaign ad, even mentioned the Tsunami of debt that is coming our way in six years -- thanks to the entitlement crisis from Social Security, Medicaid, and Medicare. Obamacare is not the problem here. It is also not the solution either.
Read the latest CBO report on entitlements and what they're going to do to our economy very soon. Very soon means 5 to 6 years. That's when people, the baby boomers 48 and older right now, really start retiring in even bigger numbers. Those numbers of retirees -- and the promises they were made on what they're going to get for their medical coverage -- cannot be met mathematically.
To get another glimpse, look at the pension crisis in cities like Detroit, Michigan or Central Falls, Rhode Island. Those retirees were supposed to get checks worth 20,000 $30,000 a year.
Sorry we couldn't complete your registration. Please try again.
Please enter your email to finish creating your account.
Receive a personalized list of podcasts based on your preferences.