[ExI] Zuckerberg just bought 26 days of world peace?

[spike]

...bounces at lists.extropy.org] On Behalf Of BillK


>...I doubt if this is correct for the US and other countries that operate
on deficit financing.
They already spend money they haven't got every month and just add it on to
the national debt.

>...Some people wonder how long this system can continue...BillK
_______________________________________________


BillK, by current extrapolations, our national retirement system will become
insolvent in 2035.  People who are not concerned by this fail to realize the
depth of the crisis faced by those who are counting on it for survival.
Perhaps they imagine we can just raise taxes to cover the cost.  They fail
to deal with the possibility that the generation of voters in 2035 will be
unwilling to pay that, and will elect tax cutters instead. 

The reasoning would be sound: the older generation spent its own money and
borrowed against the younger generation, so why should they vote to keep
doubling down?

Many of those reading this may live to experience what happens when a nation
lives on borrowed money for a long time.  Eventually the bills come due.  I
fear the outcome will range somewhere between extremely unpleasant to
horrifying.

spike