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This is partly a problem of societal shift that has happened during the past decades. Some of the programs, like the retirement fund here in Germany were concei
by skriticos2 13y ago
This is partly a problem of societal shift that has happened during the past decades. Some of the programs, like the retirement fund here in Germany were conceived with some measure of sustainable calculation.
After the war (WWII) there were few old people and life expectancy was generally much lower than now. So the social programs created back then (mostly talking about retirement funds) did make some economic sense, as most people did not reach that age. More people were paying than draining the fund. Now with time the number of old people became greater with prolonged peacetime and medical advances and the social programs left the funds empty and the shifted the burden on state budget.
Sadly there is no easy and morally acceptable solution for this, so we are just staying on track towards the inevitable wall.
- digitalengineer 13y agoOne could always delete debt against debt. All those debts are connected. Germany owes France, France owes The Netherlands, The Netherlands owes Germany and this a thousand times over worldwide.