Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Retirement May Be Mission Impossible for Gen X (those born from 1965 to 1981)
Yahoo ^ | 4/16/12 | Jessica Rao - CNBC

Posted on 04/16/2012 3:15:52 PM PDT by NormsRevenge

As kids, they sat on gas lines in the backs of their parents’ cars. As young adults, they saw the stock market crash, and when it finally came time to settle down, they bought a house at the peak of the housing bubble and then were faced with the worst economy since the Great Depression. It’s no shock that Generation X — those born from 1965 to 1981 — may get short changed in their golden years.

Though they’ve watched parents and grandparents nestled with pensions, Social Security and strong economic growth, these are no longer guarantees. On the other hand, longer life spans with more medical bills and greater need for cash are the reality for many.

Gen X is the first generation to deal with the fact that the models of American retirement are changing — and its members are flustered. The generation once called “slackers” has been true to form with retirement planning.

“Gen X is a transition generation,” says Carol O’Rourke, a certified financial planner and Executive Director for the Coalition for Debtor Education in New York City. “Gen Xers were young during the tech bubble, and when they came of age, housing was a lot more expensive. With all the talk about whether Social Security is going to survive, there is a sense of not having something to look forward to.”

According to a 2012 Insured Retirement Institute , IRI, report, only one-third of Gen Xers are "very confident" about having enough money to live comfortably during retirement, cover their medical expenses, and pay for their children’s higher education.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; Government
KEYWORDS: generationx; missionimpossible; retirement
Navigation: use the links below to view more comments.
first previous 1-5051-100101-106 next last
To: Boogieman

If it is any consolation, NONE of us is likely to be able to ever retire.

And THAT is if we are lucky.


51 posted on 04/16/2012 7:47:00 PM PDT by rlmorel (A knife in the chest from a unapologetic liberal is preferable to a knife in the back from a RINO.)
[ Post Reply | Private Reply | To 27 | View Replies]

To: NormsRevenge

Gen X’ers are probably coming to the conclusion that there end will come pop pain pills for an untreated treatable illness, even if they have the funds for treatment or taking the state funded death injection.

How much sympathy will they have for later baby boomers?

Sorry, enjoy it while it lasts.


52 posted on 04/16/2012 8:09:19 PM PDT by Fitzy_888 ("ownership society")
[ Post Reply | Private Reply | To 1 | View Replies]

To: ladyjane
Which one? The one who had 4 open heart surgeries and can't earn enough to even cover his food? Perhaps the 8th grade dropout with medical problems that make it impossible to complete a work day. My middle son is working, but still digging himself out of the 2008 real estate crash. He's the only one of 3 that has the capacity to survive independently.
53 posted on 04/16/2012 8:32:01 PM PDT by Myrddin
[ Post Reply | Private Reply | To 49 | View Replies]

To: NormsRevenge

I’m Gen X and am more libertarian than ever. I hate the ponzi scam the boomers, the “greatest generation” et sl have forced on us.


54 posted on 04/16/2012 8:37:53 PM PDT by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NormsRevenge; sickoflibs; stephenjohnbanker; NFHale
from my first paycheck, i knew that i'd have to work til i died...

thankfully, bambam and the rest of the DC gang came along and saved me from that nightmare...

if the jobs dont exist, i dont have to work...right ???

55 posted on 04/16/2012 8:55:38 PM PDT by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
[ Post Reply | Private Reply | To 1 | View Replies]

To: GenXteacher

“With inflation the way it is, and interest rates down to zero, saving money isn’t exactly worthwhile. I figured I’d just spend it all on guns and ammo now and wait for the country to collapse.”

Bingo. When nobody important thinks continuing to pile on the debt’s going to be a problem, it certainly is, and hell to pay to those who think hard currency or stacked 401ks are somehow going to avoid the crunch. There is no point to having a million marks in your wheelbarrow.


56 posted on 04/16/2012 9:02:31 PM PDT by LibertarianInExile (If Newt is a conservative, then a dingleberry is a diamond.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: freedumb2003
an example....my son in his mid 30's is working a call center job for small pay,while attending night school to earn his computer programming masters....my dil graduated with with a BA,had a baby, then went back to get her masters in library science...then another kid...

suffice to say, they bought at the top of the housing market, have had to replace deck, furnace, roof,fridge plus other stuff....

they don't have two sticks to rub together let alone retirement savings...

I've urged one of them to go into govt work just for the health insurance and retirement....

57 posted on 04/16/2012 9:03:51 PM PDT by cherry
[ Post Reply | Private Reply | To 2 | View Replies]

To: Gilbo_3; stephenjohnbanker; NormsRevenge; NFHale
RE :”if the jobs dont exist, i dont have to work...right ???

If you don't have money to retire then the gubment will just take it from fat cats like stephen so you can buy some Mac-and Cheese and hot dogs. That is called ‘fairness’ and 'paying your fair share'.

58 posted on 04/16/2012 9:04:50 PM PDT by sickoflibs (Obama : "I will just make insurance companies give you health care for 'free, What Mandates??' ")
[ Post Reply | Private Reply | To 55 | View Replies]

To: Gilbo_3

right..


59 posted on 04/16/2012 9:05:24 PM PDT by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
[ Post Reply | Private Reply | To 55 | View Replies]

To: sickoflibs; stephenjohnbanker
If you don't have money to retire then the gubment will just take it from fat cats like stephen so you can buy some Mac-and Cheese and hot dogs. That is called ‘fairness’ and 'paying your fair share'.

SJB, how bout just goin ahead and payin my allowance, and cuttin out uncle bambam ??? fatcats like you dont *need* all that cash anyhow...bwahhaahaha

60 posted on 04/16/2012 9:22:33 PM PDT by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
[ Post Reply | Private Reply | To 58 | View Replies]

To: Tzimisce
First step to fixing a problem is admitting you have one and Gen X is in serious denial.

I saw some polling a while back that showed people in their 30s (born in the 1970s) and their teens were more conservative than people in their 20s and 40s. I started wondering if which party was in the presidency during your formative years influences where your political leanings go. It's probably hard to hate the president when you're that age, since you don't understand the issues or the attacks against them, and the president just seems like a father figure that you bond with. So people growing up in the '70s and '90s favor Democrats, while those growing up in the '80s and 2000s favor Republicans. Not by a wide margin or anything, but it seems to be a factor.

61 posted on 04/16/2012 9:36:50 PM PDT by JediJones (From the makers of Romney, Bloomberg/Schwarzenegger 2016. Because the GOP can never go too far left.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: JediJones

Not a big enough factor it seems.


62 posted on 04/16/2012 9:42:10 PM PDT by Tzimisce (THIS SUCKS)
[ Post Reply | Private Reply | To 61 | View Replies]

To: Abigail Adams; old and tired
“They both agreed they needed at least a million and that assumes their homes are paid off.”

Hate to break it to you...

http://www.amazon.com/Million-Is-Not-Enough-Retire/dp/0446582239


63 posted on 04/16/2012 9:48:27 PM PDT by JediJones (From the makers of Romney, Bloomberg/Schwarzenegger 2016. Because the GOP can never go too far left.)
[ Post Reply | Private Reply | To 42 | View Replies]

To: GlockThe Vote

I’m 35 and big-time libertarian on economics. I could listen to Stossel talk about the economy, capitalism and failed government boondoggles all day. Not libertarian though on the military or on social/cultural issues. The notion that sound economic policy can exist without a strong sense of morality is ludicrous. There’s a reason that communism depends on a godless society. It’s the unprincipled, immoral culture of selfishness and hedonism that creates citizens who don’t want to work and think they’re entitled to suck off the public teat. Vices come naturally. Virtues must be taught. But they’re not covered by the three “R”s, reading, writing and arithmetic. To learn those you need the fourth “R”, religion.

As Newt and Santorum said, when our rights are said to be based on what the state provides rather than God-given, then the state can take them away anytime they want. The separation of church and state is freedom. The separation of God and state is tyranny.

As for military matters, I don’t there are any easy answers or platitudes on how you deal with foreign powers, some who are vulnerable and need our help and others who threaten us and other states. Military matters need to be the most pragmatic decisions we make. Applying any sort of strongly defined philosophy or dogma to them is unproductive if not counterproductive.


64 posted on 04/16/2012 10:06:13 PM PDT by JediJones (From the makers of Romney, Bloomberg/Schwarzenegger 2016. Because the GOP can never go too far left.)
[ Post Reply | Private Reply | To 54 | View Replies]

To: cherry

>>an example....my son in his mid 30’s is working a call center job for small pay,while attending night school to earn his computer programming masters....my dil graduated with with a BA,had a baby, then went back to get her masters in library science...then another kid...
suffice to say, they bought at the top of the housing market, have had to replace deck, furnace, roof,fridge plus other stuff....<<

Could these perhaps be a series of extremely bad life decisions? I have been DESPERATELY looking for 30-somethings who can think for themselves and make at least decent decisions in uncertain predicaments — or to at least see they are in a predicament and call for help. The cutoff seems about 40 YO. Younger than that they can’t seem to see the desert for the sand. If I could find them, I would hire them in a second.

I started doing this kind of analysis when I was in my young 20’s — I learned and moved on and learned some more. For some reason, today’s 30s seem to think their crap indoctrination/education has heft. Thus, I keep them updating spreadsheets and project plan target dates in the hopes they might someday understand why what they are doing is important and how it fits in the larger scheme of things.

These X Gen kids (and don’t get me started on the Millenials) seem to confuse that when they are given a hammer and a nail that it somehow actually builds a structure.

I try to help them along as a mentor but frequently I can see the “helicopter parent” happening — the complete inability to think and actually do something without any safety nets.

I would say the current crop of 30 YOs is the same as 20 YOs a few decades ago. The Y-Gens seem to have a better grasp on reality, despite squandering their best learning years.

>>they don’t have two sticks to rub together let alone retirement savings...<<

of course they don’t. They expect OTHERS to take care of them. This is what we have produced. I have a nephew who insists we the taxpayers pay for his college loans. I told him he can have it after they retroactively pay for mine. It sort of shuts him up.

>>I’ve urged one of them to go into govt work just for the health insurance and retirement....<<

Are you on the right board? DU is 2 clicks to the left, KOS, 3 clicks, Huffpo, 5 clicks.


65 posted on 04/16/2012 10:29:18 PM PDT by freedumb2003 ('RETRO' Abortions = performed on 84th trimester individuals who think killing babies is a "right.")
[ Post Reply | Private Reply | To 57 | View Replies]

To: tbw2

>>No one had given her the advice to pick a job she liked and was good at, instead of studying what she “loved” and expecting to get paid well for it.<<

It is no joke that if you work at what you love you will never work a day in your life.

I just am finishing some, well let us say under-likeable things I need to do. But the creative juices flow, the idea that people will be working from what I have done, the idea I have placed my imprimatur on what I have done is enough to overcome what is, at 1 AM, pretty much exhaustion.

But tomorrow I CODE!!!!! (I hope)


66 posted on 04/16/2012 10:40:14 PM PDT by freedumb2003 ('RETRO' Abortions = performed on 84th trimester individuals who think killing babies is a "right.")
[ Post Reply | Private Reply | To 37 | View Replies]

To: Poundstone

You’re welcome.


67 posted on 04/16/2012 10:42:21 PM PDT by 21twelve
[ Post Reply | Private Reply | To 15 | View Replies]

To: Myrddin

>>I was born in 1956. My “kids” are still at home<<

You do them no kindness by infantilizing them. Did your parents keep you sucking their teats until you were a grown person — wearing diapers?

God, if I was in my mommy and daddy’s home after I was 18 I would have shot myself in the head from sheer embarrassment alone.

Buy a set of diapers, give it to your kids, and tell them to live their own lives.


68 posted on 04/16/2012 10:45:12 PM PDT by freedumb2003 ('RETRO' Abortions = performed on 84th trimester individuals who think killing babies is a "right.")
[ Post Reply | Private Reply | To 29 | View Replies]

To: Poundstone

>>Thank God for my federal pension.<<

Until the Conservative Revolution.

Then, you may have to fend for yourself like real people do.

I have a Cal State pension — all I ask from it is to give me my contributions back for those 15 years, with a reasonable ROI (say, 6%). We all walk away happy — no eternal burden to the taxpayers, I get my stolen money back, and I work those dollars with the risk profile I deem best.


69 posted on 04/16/2012 10:49:31 PM PDT by freedumb2003 ('RETRO' Abortions = performed on 84th trimester individuals who think killing babies is a "right.")
[ Post Reply | Private Reply | To 15 | View Replies]

To: DaxtonBrown
What are you talking about Gen X? Some of us Boomers are not retiring either.

That's true. Problem is some of us boomers are lumped in with the OLDER boomers who were flower children or Vietnam war protesters. We don't fit in with those boomers born between 1946-1953.

We are Generation JONES. Most of us are at least 10 years, minimum, from retirement.

70 posted on 04/17/2012 3:33:03 AM PDT by Florida native
[ Post Reply | Private Reply | To 16 | View Replies]

To: goseminoles

And that kind of abuse is limited / unique to Gen Y? What color is the sky in your world?


71 posted on 04/17/2012 3:35:48 AM PDT by KantianBurke (Where was the Tea Party when Dubya was spending like a drunken sailor?)
[ Post Reply | Private Reply | To 34 | View Replies]

To: desertfreedom765

Well, there are few penalties for not being responsible. The government ensures everyone has enough to get by - not much, but then most irresponsible people have very low expectations anyway. OTOH all you get from being responsible is an IRS agent taking more of it away.


72 posted on 04/17/2012 4:09:05 AM PDT by Vanders9
[ Post Reply | Private Reply | To 35 | View Replies]

To: freedumb2003

When the passions are obscure liberal arts, music and philosophy, getting a degree in those areas is a deep load of dumb debt.


73 posted on 04/17/2012 4:53:59 AM PDT by tbw2
[ Post Reply | Private Reply | To 66 | View Replies]

To: old and tired

Your barber is right - a million & no mortgage debt to retire (we aren’t there yet, but that is the goal).

For us, it made sense to refinance to a 10 yr mortgage (it’s not that much more a month, but the house will be paid off alot quicker).


74 posted on 04/17/2012 5:10:57 AM PDT by LadyBuck (In the immortal words of Jean Paul Sartre, 'Au revoir, gopher')
[ Post Reply | Private Reply | To 10 | View Replies]

To: old and tired

No matter the plans made or what is set aside retirement is only possible if there are enough young people working to produce enough goods and services to meet basic necessities of life for those who are retired, if you think about it you will realize this is not opinion, it is mathematical certainty. Imagine yourself the only person on Earth, you would own everything by default but you could not get a ham sandwich without producing it yourself. What we have is a lower and lower ratio of young people of working age to retirees coupled with an ever larger percentage of young people who are leaches rather than producers. The situation is mathematically impossible. I am about to turn 68 and I work two part time jobs right now. I try to learn all I can about how to stay physically able, once I lose my physical competence the best I can hope for is a swift death. The idea of being a nursing home patient makes me want to jump off a cliff.


75 posted on 04/17/2012 5:47:38 AM PDT by RipSawyer
[ Post Reply | Private Reply | To 10 | View Replies]

To: Repeat Offender

Yeah, buddy.


76 posted on 04/17/2012 6:00:34 AM PDT by Tijeras_Slim
[ Post Reply | Private Reply | To 46 | View Replies]

To: Hoosier Catholic Momma; CottonBall; TenthAmendmentChampion; Chickensoup; JDoutrider; ...

Not for those that chose to “live like no one else.”

Keep up the pace my fellow DR FRiends. It will be worth it!

Dave Ramsey Fan Ping List.

If you would like to be added to the “Live like no one else, so that you can LIVE like no one else” list, feel free to Freepmail me.


77 posted on 04/17/2012 7:14:13 AM PDT by CSM (Keeper of the Dave Ramsey Ping list. FReepmail me if you want your beeber stuned.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hoosier Catholic Momma; CottonBall; TenthAmendmentChampion; Chickensoup; JDoutrider; ...

Not for those that chose to “live like no one else.”

Keep up the pace my fellow DR FRiends. It will be worth it!

Dave Ramsey Fan Ping List.

If you would like to be added to the “Live like no one else, so that you can LIVE like no one else” list, feel free to Freepmail me.


78 posted on 04/17/2012 7:15:08 AM PDT by CSM (Keeper of the Dave Ramsey Ping list. FReepmail me if you want your beeber stuned.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: CSM

I’d like to be on the list.


79 posted on 04/17/2012 7:20:57 AM PDT by Bitsy
[ Post Reply | Private Reply | To 78 | View Replies]

To: Vanders9

If we keep going down this road it will be the death of the economy.

People will come to the conclusion that its time to move or stop producing.

This thought never occurs to the Liberal brain. They think the money tree will never run out.


80 posted on 04/17/2012 7:43:10 AM PDT by desertfreedom765
[ Post Reply | Private Reply | To 72 | View Replies]

To: CSM; Big Giant Head

This Gen-Xer will have no more mortgage in a year’s time. My husband and I are so close to paying it off, we can taste it!


81 posted on 04/17/2012 8:33:12 AM PDT by Marie Antoinette (Newt Gingrich 2012 - The Man With a Plan)
[ Post Reply | Private Reply | To 77 | View Replies]

To: desertfreedom765

You know, I have a theory that the reason they do that is that they confuse money with wealth. Money isn’t wealth. It just represents wealth. The maximum amount that government spending can justifiably be increased by is the growth rate plus the inflation rate. Anything more is either an expansion of the public sector, an increase in unaffordable debt, or an increase in inflation (or all three).


82 posted on 04/17/2012 8:38:53 AM PDT by Vanders9
[ Post Reply | Private Reply | To 80 | View Replies]

To: Marie Antoinette
We paid ours off about 3-4 years back (I was born in 1961, so back end of boomer/start gen x). It was a great feeling.

Of course, the wife then insisted on doing a masters degree and now we're back in debt again. Shucks.

83 posted on 04/17/2012 8:53:15 AM PDT by Vanders9
[ Post Reply | Private Reply | To 81 | View Replies]

To: desertfreedom765
People will come to the conclusion that its time to move or stop producing.

I didn't really plan this out, but I've essentially “gone Galt”. If things keep going the way they are going, I'll have plenty to retire on by the time I'm eligible to access the money (anther 10 years or so). In the mean time, I'm working less than half time teaching at the community college and doing a lot of nothing.

And that $20,000 + in taxes that I used to send to the government every year? Well, nobody calls me an evil capitalist who doesn't pay their fair share any more.

Back on this topic, I “lived like noone else”, so I don't have all the stuff that folks with my kind of net worth generally have, but I built that net worth up on a relativley small income.

And every bit of it came from good parenting. I don't have kids of my own, but those of you who have these Gen X children, you have to model good behaviour to them. You can't depend on the government to do it for you.

84 posted on 04/17/2012 10:50:57 AM PDT by Stegall Tx (Living off your tax dollars can be kinda fun, but not terribly profitable.)
[ Post Reply | Private Reply | To 80 | View Replies]

To: Marie Antoinette

Is your hubby a Gen-Xer or a Baby Boomer?

I was born in 1960; my current “hubby” was born in 1968 and all he can do is “bad mouth” baby boomers.

I think the difference is the way government has gradually taken over parenting. Gov’t has infiltrated the family basically outlawing traditional values, parenting, discipline and self-control/self-respect.

Replacing it with:

Encouraging single moms (replace dad with welfare checks or tax free for mom alimony aka child support checks via the divorce industry)

“Diagnosing” normal child behavior that just needs to be nipped in the bud by parental authority and instead encouraging mind bending, health endangering meds for said children (ADHD, autism, aspergers, ODD, anxiety) instead of good old fashioned discipline

Encouraging the “entitlement” mentality (in close association with ambulance chaser attorneys)

Discouraging child labor; chores are “abusive”

Sponsoring the phoney “self esteem” movement and “equal playing field” instead of encouraging excellence for each child.


85 posted on 04/17/2012 11:36:25 AM PDT by AbolishCSEU (Percentage of Income in CS is inversely proportionate to Mother's parenting of children)
[ Post Reply | Private Reply | To 81 | View Replies]

To: LadyBuck
For us, it made sense to refinance to a 10 yr mortgage

Same here - we recently got 2.87% through our credit union for a 10 year. Payments are actually lower, but we're continuing to pay at the old rate to get out of debt sooner.

86 posted on 04/17/2012 11:54:11 AM PDT by knittnmom (Save the earth! It's the only planet with chocolate!)
[ Post Reply | Private Reply | To 74 | View Replies]

To: the invisib1e hand

Many of us didn’t even make it to the cradle.

Roe v. Wade. 1973.


87 posted on 04/17/2012 2:08:45 PM PDT by Claud
[ Post Reply | Private Reply | To 9 | View Replies]

To: yefragetuwrabrumuy
I have a strong feeling that the generation X’ers have seen this coming from so far away that they adapt to changing circumstances.

BINGO. I have NEVER EVER expected Social Security since I was a little kid...I grew up in the 80s with all the debt talk. We KNEW we weren't getting anything.

Meanwhile, the generation X’ers will be quietly building up their own, *non-monetary* semi-retirement.

Double bingo. Marketable skills. Survival skills. Side businesses. Seeds. Land. Fruit trees. Plenty of kids.

If you're not Gen X yourself, my hat is off to you. You've really nailed what is going on.

88 posted on 04/17/2012 2:23:50 PM PDT by Claud
[ Post Reply | Private Reply | To 23 | View Replies]

To: Vanders9

Yes, spot on...


89 posted on 04/17/2012 2:27:50 PM PDT by desertfreedom765
[ Post Reply | Private Reply | To 82 | View Replies]

To: AbolishCSEU

My hubby is between the two, he was born in ‘58. I was born in ‘67.

My parents are boomers who recently retired. I have nothing bad to say about any particular generation. There are good and bad of every age, and plenty of folks who rise above their circumstances.

Some of us opted out of the government system you described. We are home schooling our kids. I can’t wait to see what their generation does.


90 posted on 04/17/2012 2:31:51 PM PDT by Marie Antoinette (Newt Gingrich 2012 - The Man With a Plan)
[ Post Reply | Private Reply | To 85 | View Replies]

To: Stegall Tx

“And every bit of it came from good parenting. I don’t have kids of my own, but those of you who have these Gen X children, you have to model good behaviour to them. You can’t depend on the government to do it for you.”

Their is an old saying. Poor folks have poor ways. Our goal as a society should be to teach children good life strategies, including knowledge about money and good morals.

Bad morals is costing the Government hundreds of billions of dollars a year.

I have also see highly educated people (at least on paper), be very ignorant about money.


91 posted on 04/17/2012 2:33:20 PM PDT by desertfreedom765
[ Post Reply | Private Reply | To 84 | View Replies]

To: tbw2

>>When the passions are obscure liberal arts, music and philosophy, getting a degree in those areas is a deep load of dumb debt.<<

I thought I implied that if you love what you do AS A JOB, you won’t work a day in your life.

I had a slew of meetings today — sadly, I had to work.. :(

TONIGHT I CODE!!!!


92 posted on 04/17/2012 3:13:39 PM PDT by freedumb2003 ('RETRO' Abortions = performed on 84th trimester individuals who think killing babies is a "right.")
[ Post Reply | Private Reply | To 73 | View Replies]

To: LadyBuck

>>For us, it made sense to refinance to a 10 yr mortgage (it’s not that much more a month, but the house will be paid off alot quicker).<<

We paid off our mortgage in California about a year ago (15 year mortgage paid off in 7), but then decided to move to Texas. I could have paid cash for the new place, but with mortgages at 3% it is almost free money. We’ll pay off the 15 year mortgage in 6 years.


93 posted on 04/17/2012 3:19:56 PM PDT by freedumb2003 ('RETRO' Abortions = performed on 84th trimester individuals who think killing babies is a "right.")
[ Post Reply | Private Reply | To 74 | View Replies]

To: Myrddin

I’ve been doing that since June 2004.


94 posted on 04/17/2012 3:43:55 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 31 | View Replies]

To: Poundstone

Contemplate this - When the government spends a trillion-and-a-half dollars per year more than it takes in, eventually it’s going to run out of money.

Then what?


95 posted on 04/17/2012 3:52:59 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 15 | View Replies]

To: DuncanWaring

False claim ... when you spend more than you take in, you are already OUT OF MONEY. This nation is far beyond just broke, and that by Cloward and Piven design don’tchaknow. Our 747 is out of fuel and the plane is nose down already. Would you say we’re still flying? I doubt it


96 posted on 04/17/2012 4:01:28 PM PDT by MHGinTN (Being deceived can be cured.)
[ Post Reply | Private Reply | To 95 | View Replies]

To: MHGinTN
When I say "run out of money", I mean it will no longer have anything of value which it can present to satisfy obligations.

The Weimar Republic didn't run out of money, either.

Or did they?


97 posted on 04/17/2012 4:16:03 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 96 | View Replies]

To: MHGinTN; Poundstone
In the Carboniferous Epoch we were promised abundance for all,
By robbing selected Peter to pay for collective Paul;
But, though we had plenty of money, there was nothing our money could buy,
And the Gods of the Copybook Headings said: "If you don't work you die."
98 posted on 04/17/2012 4:20:10 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 96 | View Replies]

To: Poundstone

By the way, how many current workers does it take to pay enough in Federal income taxes to cover your pension?


99 posted on 04/17/2012 4:22:40 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 15 | View Replies]

To: Claud

The cusp between the Boomers and the X’ers is called “Generation Jones”. They were told that all the good stuff the Boomers got was waiting for them, “but when they got there, the cupboard was bare”, and so the poor Jones’ got none.

By the time the X’ers came along, the illusions were all gone, so they grew up expecting little or nothing. Which has turned out to be exactly the case.


100 posted on 04/17/2012 4:23:04 PM PDT by yefragetuwrabrumuy ("It is already like a government job," he said, "but with goats." -- Iranian goat smuggler)
[ Post Reply | Private Reply | To 88 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-5051-100101-106 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson