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“Only a crisis - actual or perceived - produces real change." - Milton Friedman Age 45 and up comprises the smallest number of HN readers, the largest number o
by rrggrr 9y ago
“Only a crisis - actual or perceived - produces real change."
- Milton Friedman
Age 45 and up comprises the smallest number of HN readers, the largest number of Americans, the largest quantity of American voters, and the greatest concentration of wealth in America. This, majority demographic will support real change when there is no other option, but not before then. Most refuse to admit their generations enacted public policies that have left most cites States and the Federal Government irreversibly in debt.
Milton Friedman also said, "When that crisis occurs, the actions that are taken depend on the ideas that are lying around." Its critical that today's emerging leaders are well educated on what makes for sustainable economic and social policy, and what is required to dig ourselves out from the hole dug for us.
- danjayh 9y agoMuch of the problem lies with future unfunded obligations in Social Security. When Social Security was enacted, the average life expectancy was 61 and the full retirement age was 65 - the average person died before getting a dime. This is no longer the case, and it's why the program is going bankrupt. I, at 35 years of age, am not planning to ever receive social security & am saving at a rate that reflects that (slightly over Dave Ramsey's recommended 15%). I will vote ASAP to raise the full retirement age to 84, which is 4 years after the national average life expectancy of 79. Doing this will fill in a significant portion of the hole that prior generations have dug. I would also support raising the retirement age for women to a higher value than that for men, due to the difference in life expectancy. Equal opportunity to collect, and all (ducks head to dodge flying objects). OK, maybe I'm half kidding about that, but dead serious about everything else.
- rrggrr 9y agoUnderfunded State pensions are an even bigger problem. Insurmountable actually.
- deleted 9y ago[deleted]