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Republicans propose harsh cuts to entitlement programs.
They meet somewhere in the middle and its done.
First, only 1/3 of the Senate is up for re-election at any one time, so results from Senate elections are nowhere near Presidential and House elections for gauging where the country is as a whole. Second, Democrats won four Senate seats in states that went heavily for Romney (Missouri, Indiana, North Dakota, and Montana), through varying combinations of Republican candidates self-destructing in spectacular fashion and Democratic candidates distancing themselves from Obama and his agenda. It really should be 50/50 or something close to it. Let the Dems have 55 if they need to be able to declare victory.
We tried to tell you, but thanks for not paying attention!! :
A Warm Thank You
To the Editor:
This 50-something, white, conservative Republican wishes to thank America’s youth for sacrificing their financial futures and standard of living so that boomers, such as my wife and I, can look forward to a long and comfy retirement, which we could easily have afforded on our own. Now we have the youth as our guarantors and providers of a little something extra.
As reported by the national exit poll conducted by Edison Research, Americans aged 18 to 29 voted 60% to 36% for Barack Obama. Prior to Obama’s re-election, I believed that it was morally wrong for my generation to pass a crushing national debt on to the next one.
The debt will top $20 trillion before Obama moves out of the White House, and it will include spiraling retirement-related costs that the administration has shown zero interest in bringing under control, largely driven by baby boomers piling into the Social Security and Medicare systems.
With the president’s electoral crushing of Mitt Romney, my overriding sense of morality and guilt have vanished. Thank you, kids!
Edwin D. Schindler
Young people are absolute morons for voting for Obama. 99% of them don't even understand any of the consequences. Their decision making process ends somewhere around "Obama hangs out with Jay-Z, I'll vote for him."
We might get to screw some of you by messing things up so badly that even previously "safe" retirement vehicles like bonds start failing. But, yeah, you guys got us good.
Bonds are toast. Everyone in target date retirement funds that are heavily weighted in bonds is going to be in for a rude awakening.
Majority of people in Generation Y have positive feelings about the term "socialism"
Pretty much says it all.
Go away, KA!
In our defense (and I hate nearly everyone from my generation) we were raised to be utterly dependent. The boomers share a lot of the blame.
It's a good thing our interest rates are being kept at 0 so that I can put money away for retirement!
I heard in passing radio last week that a bill proposing 401K buyouts was under way. Anything of this?
Gold and silver are a few of the only things that have a chance of keeping pace with inflation. Would have been a steal 4 years ago, probably still the safest bet for quite some time.
but.. but.. you also tried to tell everyone that Romney would win
"Anyone who talks about Jordan Williams leaving knows nothing about basketball. Absolutely nothing" - Hogie 02/27/2011
Oh. Shit. It's that easy?
"It's just so hard," Greivis said. "It's my heart, my love. Maryland made me who I am."
This post was edited by RaiseHigh 19 months ago
My generation (I'm in my 20s) is a bunch of goddamned idiots. No doubt. But boomers don't get off the hook, either. Their working, productive years saw unprecedented economic prosperity, and yet they managed to completely squander it. America is like the NFL player who made it big and then found themselves broke after pissing it all away 5 years out of the league. We all shake our heads and wonder how someone could burn a winning lottery ticket like that, but we shouldn't. That's who we are as a society.
The boomers blew it at home, by spending beyond their means on homes, cars, etc. They blew it in government by demanding ever-increasing, unsustainable entitlements and pensions and being unwilling to pay for it. And then they blew it by raising my generation to be just as selfish and clueless about the math as the parents -- if not moreso. Looking at the student loan situation will give you all the proof of that you need.
You plant peas, you get peas.
I'm super pumped that I get to live out my life and raise future children during the American death throes. I will probably go through my career with an unprecedented level of taxation in exchange for little to no security provided by the entitlement programs of 2050 and beyond. I'll have to do this in a diminished economy with diminished infrastructure in what is ultimately a diminished America.
Mark Steyn writes on NRO: Previously on The Perils of Pauline:Last year, our plucky heroine, the wholesome apple-cheeked American republic, was trapped in an express elevator hurtling out of control toward the debt ceiling. Would she crash into it? Or would she make some miraculous escape?Yes! At the very last minute of her white-knuckle thrill . . .
Pleased to meet you; hope you guess my name.
I'm just trying to give back to my future benefactors.
I could go on and on about how I was right vis a vis the benefits of Romney vs Obama, but nobody (including me) wants that.
Mark Steyn is ALWAYS great reading, and I frankly think he's pretty much always right about both demographics and the plainly obvious results of our current ridiculous economic policy, but he's dark, dark, dark.
MD Terp //
Son, is that you? Dad miss you so much. We haven't seen or heard from you after that one bad day back in the Fall of 2012. I play that day in my mind, over and over, every waking hour.
You were an 'idiot' for choosing Applebees, but I was a bigger "IDIOT" for posting our adventures. I squandered my life with you just like the baby boomers squandered everything. Son, I have only one thing left to say. Remember life and investing is not a sprint, but it is a MARATHON. And now I'm off to lunch; guess where? Applebees, F no, you 'goddamned idiot' (your words). MARATHON!!!!!!!!!!!!!!! //Terp 84
This post was edited by BS19 19 months ago
Meh, you guys are projecting that's its worse than it really is because you're upset with who is in charge. Not saying we don't have real problems, we certainly do. But the news of our demise is greatly exaggerated. The fundamentals of the international economy still favor us, and any economic analysis which ignores that political reality is flawed.
It looks like the Republicans' best strategy might be to propose Bowles - Simpson in response to Obama's ridiculous opening gambit.
What do board Dems say to that?
Krugman koolaid has been drunk. People are really clueless.
I say America is still the greatest country in the world and that I'm confident in our resiliency to meeting the challenges of today and you guys say I'm drinking koolaid. It's sad to see conservatives in a state like this.
Sounds good to me. I think some Republicans might be surprised if they actually read Bowles-Simpson.
Just watched Geithner say on all of the Sunday talk shows that the tax rates should go up to the Clinton levels because that was a time of economic prosperity. He also refused to say "spending cuts," instead called them "spending savings."
Sign me up. But there would have to be 100+ R votes in the House to pass it there. I doubt there would be.
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