Does anyone seriously doubt that the United States will recede back into the ranks of other large counties (e.g., BRICs) by the end of this century? I do not place blame for this eventuality on any particular political party or philosophy, but rather on the end of a unique chain of circumstances which culminated in the American Century of the 1900's. Among these were a unique form of government, capitalism and two world wars which left us as the unscarred industrial engine for the rest of the world.
The spoiled children of this inheritance (aka Baby Boomers) have been happily whittling it away for the past 50 years, and it will soon be time to pay the piper his due. Greed, which was once a beneficial driving force of capitalism, has now become permanently ensconced in the public and publicly regulated sectors of our economy. For example, the average "regular" (published) pay for law enforcement in a suburban California County is $80,000 per year. However the actual average pay is $112,000, which is 40% more than what the public is told. This is a microcosm of what is happening throughout our country.
At this point, our financial situation is so terrifying that it can't be rationally discussed, let alone addressed. Even the most optimistic growth projections for economy won't bring us anywhere near to being able to meet our obligations. We are now in the stage of maxing out our last credit card, whose limit has been raised by creditors who have no other customers at present. The remaining longevity of our house of cards will not be measured in centuries, but in decades.
The spoiled children of this inheritance (aka Baby Boomers) have been happily whittling it away for the past 50 years, and it will soon be time to pay the piper his due. Greed, which was once a beneficial driving force of capitalism, has now become permanently ensconced in the public and publicly regulated sectors of our economy. For example, the average "regular" (published) pay for law enforcement in a suburban California County is $80,000 per year. However the actual average pay is $112,000, which is 40% more than what the public is told. This is a microcosm of what is happening throughout our country.
At this point, our financial situation is so terrifying that it can't be rationally discussed, let alone addressed. Even the most optimistic growth projections for economy won't bring us anywhere near to being able to meet our obligations. We are now in the stage of maxing out our last credit card, whose limit has been raised by creditors who have no other customers at present. The remaining longevity of our house of cards will not be measured in centuries, but in decades.
Last edited: