Wednesday, June 24, 2015

6/24/15 Now for the really bad news regarding the formula: (addition of population + productivity) = economy

You really can have a reduction of population because the per capita economy remains the same and standards of living remain the same.

The problem is the entitlements.  I got tired of trying to convince people that the budget deficit each year is false because it is accounting on a cash basis.  When using accrual accounting like businesses are required to use, the budget deficit is $5 trillion dollars each year.  That isn’t my number-I don’t have the capacity to figure that out.  It comes from the Social Security Administration.

Those of us 65 years old now will keep getting our entitlements for a long time.  And we may hang in there long enough to see the disaster we created.  I am hoping our children have the nerve to default on the nation debt when the time comes.

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