I agree with Greenspan just b/c of simple laws of math. It's not complicated. Every year debt as a % of GDP goes up. Every year the costs of entitlements goes up, particularly health care costs, as the country ages and more people take entitlements (mostly Medicare). This pulls out investment dollars (dollar for dollar), just like various taxes.
https://www.cnbc.com/2019/04/12/ala...because-of-growing-us-entitlement-burden.html
The problem is wondering when The Big Fade happens?
Would particularly like comments from Orb and Owls and Horns (Is owls and horns the right name?), among others. Greenspan had several glitches as Fed Chairman, no doubt, but in the article he's just basing it on simple math and current realities. If he's right, the next recession is going to be very harsh, and likely very long. When is Fed budget and current debt going down from current levels? How is that going to happen short of recession?
I hope posters keep politics out of this, as debt continues to mount regardless of party. Nobody in DC is doing anything about entitlements or debt.
https://www.cnbc.com/2019/04/12/ala...because-of-growing-us-entitlement-burden.html
The problem is wondering when The Big Fade happens?
Would particularly like comments from Orb and Owls and Horns (Is owls and horns the right name?), among others. Greenspan had several glitches as Fed Chairman, no doubt, but in the article he's just basing it on simple math and current realities. If he's right, the next recession is going to be very harsh, and likely very long. When is Fed budget and current debt going down from current levels? How is that going to happen short of recession?
I hope posters keep politics out of this, as debt continues to mount regardless of party. Nobody in DC is doing anything about entitlements or debt.
