This Could be the US within Years

This Could be the US within Years


Let’s see… Greece is having trouble with unfunded liabilities, runaway debt and constituents that demand they live off the public largess while much of the world recognizes that the current situation as unsustainable. I don’t see how the US is much different. While there are rosy projections that we’ll eventually be decreasing our deficit over the next few years if all goes well, what’s clear even in the most optimistic government models is that in 2030 and beyond we have a runaway situation. We’re seeing states and municipalities struggling to control debt and most of it stems from the overly generous pension and healthcare obligations they’ve made to generations of public-sector workers that is unsustainable. While the private sector has cut jobs, real wages and forced increased employee contributions to benefits for a decade, public workers have pretty much maintained the status quo as if they live in a vacuum. I can’t blame the workers for doing they best they can for their families, but politicians and fiscal oversight decision makers have some tough choices ahead of them. Cut the lavish spending now or face default later due to the generational debt we’ve burdened future generations with. When the time of reckoning comes for the US – we may very well see public workers, school teachers and city employees rioting in Washington.
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