For the Millennials, The Social Security Chickens have Come Home to Roost
1965 was a momentous year for the US. LBJ, the newly elected President, was in a bind. He had objectives that required spending, which would generate a fiscal deficit —and, in turn, more government debt. But coming out of WWII, fiscal deficits were considered to be taboo by both political parties because they would further add to wartime debt accumulation. The game plan, which should again be considered today, was: Don’t add more debt. Instead, grow the economy without additional government fiscal deficits. The plan implied having a balanced federal budget, while still growing income to service the debt load. … Continue reading—>
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Source: http://thespellmanreport.com/2016/12/09/millennials-social-security-chickens-come-home-roost/
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