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I freely admit that I am no expert on the economy…or entitlements…or anything related to this stuff at all…
That being said, what in god’s name is this guy talking about?
OK, I guess running up big deficits COULD in THEORY bring the problem into light such that the federal government realizes that it needs to stop spending money like it grows on trees (and/or can be freely printed without adverse effects)…
…but “…Social Security has been in pretty good shape since then…”
What!?!? Don’t even the most conservative estimates have Social Security adding several trillion dollars to the national debt over the next decade or so?
If anyone can make any sense of this for me, it would be greatly appreciated.
Rick, great comment. The reason I put this video on here is because it is just plain crazy! And more thank likely, not even David Wessel can make any sense of it!
Mac
Thanks for the sanity check, Mac.
After watching the video, there was a brief moment during which I questioned everything I thought I even remotely understood about the economy…as well as my mental state in general.
I’ve added your page to my daily “current economic conditions” reading list.
Thank you for posting this stuff, and please keep it up.
-Rick