Business

Ferris Geithner's Day Off

By Gary North / LewRockwell.com:
In my previous report, "Why Should Your Children Pay for My Retirement?" I went through the logic and economics of Social Security and Medicare. I made the point that, at some point, the bill-payers are going to resist the payments that previous generations have legislated. What one generation can legislate, a subsequent generation can repeal. The main political question is this: In which form will this repeal manifest itself? The statistical facts of Social Security and Medicare make it clear that the funding of both programs has hit a brick wall.
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Posted by Editor at March 20, 2010 02:36 AM