Our floundering economy
June 15, 2005
Michael Schwalm, last Tuesday and April 26 offer some simple, fool-proof remedies for Social Security. They obviously will work, if the economy can be kept working, but Bush has done at least two major things in his dreadfully misguided five years that will probably cause even these to fail.
1. Basic to Social Security successful operation, there has to be a working economy. i.e., young workers have to have a job, so they can pay into the Social Security system, so that there will be money that can be paid out to retired workers. Bush and company have sent most of these jobs offshore to China and elsewhere (Japan, South America, etc.).
2. To cover his unsound economic policies and wars, he has borrowed heavily from China, Japan, et al., but just wait ’til oil producers recognize how inflated our paper is, and how much better the Chinese equivalent is and gas goes up to $5 per gallon, where it belongs. And there goes our economy, and our military will be grounded, too, because it is powered by that black stuff that comes out of the ground.
Prime Minister Putin recently acknowledged that Russia made a mistake.
Syd M. Hall
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