Social Security Is Bankrupt! — Are You Surprised?

SEE HERE The facts of economic reality are coming down upon us fast. $45 billion dollar deficits with nowhere to go but down, down, down to a sunless sea of debt and failed expectations. Who will the hapless politicians blame? Will it be the businesses that they've regulated, taxed, and manipulated into insolvency? Will it be greedy Wall Street which tried to remain solvent and anticipate the effects of all the machinations, sometimes successfully and sometimes not. The one group we know they will not blame and that is themselves.

The problem with liberals is that they think good intentions trump reality. Thomas Sowell points out over and over in his book Basic Economics how the only thing that counts is the incentives and they often have totally unforeseen consequences. J. R. Dunn in his book Death By Liberalism — The Fatal Outcome Of Well-Meaning Liberal Policies documents the millions who have died due to the good intentions of liberals pursuing their frenzied agendas. The game is going to be over soon, but in all likelihood the consequence are going to be horrendous. It's hard to decide what to do to protect yourself. It also depends on if some sanity prevails in the coming decade to pull back from the brink. But if we continue pell-mell irresponsibly towards economic collapse we are sure to get there.