BradSchaeffer0917

3x published author, columnist, trader. Find me on the pages of WSJ, NY Daily News, NY Post, Daily Wire, National Review, etc. Native of Chicago, living in NJ.

[BradSchaeffer0917 @BSchaeffer0917]

@chefhalden @jlpdav @Appeal_2heaven_ You understand I'm not just talking about GDP as a measure but Debt:GDP yes?

[BradSchaeffer0917 @BSchaeffer0917]

@chefhalden @jlpdav @Appeal_2heaven_ Yes

[BradSchaeffer0917 @BSchaeffer0917]

I care more about Medicare (1965). SS can be fixed on a cocktail napkin. And it's not just SS and Medicare but past generations also enacted the Entire Great Society infrastructure--there are over 90 federal assistance programs--as well as COLA adjustments (1972) etc.

You may not have seen a previous post (and if I could edit the original I would) wherein I concede that really I should have not mention this or that "generation" but more those who both enacted and expanded these programs--and those who would rather see their grandkids with crushing debt that will never be repaid than give up their entitlements. Or even pare them back. So your point re "Boomers" is well-taken.

[BradSchaeffer0917 @BSchaeffer0917]

@chefhalden @jlpdav @Appeal_2heaven_ So to be clear. You don't think the Debt:GDP ratio is something that should be considered? What do you mean you "get nothing of value" out of it?

Do you realize that the largest portion of Federal outlays (paid from our taxes) is now DEBT SERVICE? Not defense?

[BradSchaeffer0917 @BSchaeffer0917]

@Keb3579 @MattWalshBlog You think giving yourself benefits without raising your taxes enough to cover them and instead sticking the kids and grandkids and great grandkids all the way down with the bill is what? Altruistic?

[BradSchaeffer0917 @BSchaeffer0917]

@Marshal21112725 @Gobirds385 @MattWalshBlog Yes. I actually shouldn't make it so simple as X or Y generation. The broader point (that I see you get) is that those who came before us were very selfish. Some were GG, some SG and some Boomers. I just hate in insult WW2 and Korea vets!

[BradSchaeffer0917 @BSchaeffer0917]

So you think my kids today--paying $3,500 for a one bedroom apartment, paying $30,000 for a basic car, paying $7 for a beer at the local pub--while their wages have hardly kept up with even inflation, and many saddled with student debt for colleges that cost us $5,000/year and now $60,000/year, and being replaced right and left by AI--have it better than I who was able to live with a roommate in a 2br 2bath highrise with doorman and pool on roof overlooking Lake Michigan while I was making as CME clerk $15,000/year? (And we had money to go out too!)

Our kids have it better off in terms of creature comforts and medical care because of tech advances. But not financially.

[BradSchaeffer0917 @BSchaeffer0917]

@varneybe @chefhalden @Appeal_2heaven_ But...but I thought it was like a "savings account". A lockbox. So if I open up the SS vault I will see IOUs from a government $40T in debt. LOL.

(Why are you so anxious to bankrupt your children?)

[BradSchaeffer0917 @BSchaeffer0917]

@varneybe @chefhalden @Appeal_2heaven_ Ah. Just keep raising taxes? How will that change what SS and Medicare rely on the most--a growing batch of payors into the system. Have you seen our birth rate? Compare it to the 1930s or even 1960s.

[BradSchaeffer0917 @BSchaeffer0917]

@varneybe @chefhalden @Appeal_2heaven_ I agree with that. But the very idea of social security and medicare paid for by debt makes it a Ponzi scheme.

[BradSchaeffer0917 @BSchaeffer0917]

Inflation is as measured by the CPI. You do know that food and energy are not part of that metric yes? You think they matter when it comes to affordability?

Do you think we should be coerced into putting money into a Ponzi scheme?

You sound like a pissy little girl. Stick to the facts.

[BradSchaeffer0917 @BSchaeffer0917]

Yes. Ponzi schemes always rely on another set of payors. But what happens when there are less of them? Ask Madoff. The pyramid becomes top-heavy with payees. Do you understand the concept of negative birth rates, longer lifespans, and people entering the workforce later?

You know. Math is not a very difficult thing.

[BradSchaeffer0917 @BSchaeffer0917]

@jlpdav @chefhalden @Appeal_2heaven_ As what percent of GDP?

[BradSchaeffer0917 @BSchaeffer0917]

So you believe they should be saddled with insurmountable debt--and all the inflation and skyrocketing costs of living that accompanies it--that will only collapse anyway so you don't have to pay higher medical bills. Got it.

I suppose you order the surf and turf and then leave them enough money to pay for the appetizers while skipping out on the rest of the bill too? You DO understand that the math will eventually end this anyway yes?

Do you at least believe they should have a CHOICE as to whether to participate in this imposed Ponzi scheme?

[BradSchaeffer0917 @BSchaeffer0917]

@MattWalshBlog It has only been recently that generations are forced to pay for the ACCUMULATED DEBT of those before them. The people paying into SS/Medicare now did not vote for it. And worse, THEY CANNOT OPT OUT. This is taxation without representation.

[BradSchaeffer0917 @BSchaeffer0917]

No. It has only been recently that every generation has had to pay for the ACCUMULATED DEBT of those before them. The people paying into SS and Medicare now had no choice in the matter. They did not vote for it. And worse, they cannot opt out. This is taxation without representation.

[BradSchaeffer0917 @BSchaeffer0917]

@varneybe @chefhalden @Appeal_2heaven_ Do you have children?

[BradSchaeffer0917 @BSchaeffer0917]

@Gobirds385 @MattWalshBlog Actually that would be the Imperial Japanese Army/Navy and Wehrmacht, but that's neither here nor there. The worst year of the Depression was, in fact, 1938.

[BradSchaeffer0917 @BSchaeffer0917]

@Gobirds385 @MattWalshBlog Not one Republican will ever say "We need to cut Medicare, Social Security, and other services" if they want to keep their jobs. Dems set it up. But the GOP is now a prisoner of it.

[BradSchaeffer0917 @BSchaeffer0917]

@troode10 @MattWalshBlog Oh yes. It's not a partisan issue. They both do it. No one would ever get re-elected if they actually tried to cut elderly entitlements.