by reader coberly
From a front page above the fold article in the Portland Oregonian, by Glenn Kessler of Washington Post, “explaining” the financial crisis, what to expect, and giving advice to readers:
“The increased debt load of the U.S. government will make it more difficult to finance the Social Security deficits that will emerge as more baby boomers retire in the coming decade. This may require the government to cut benefits or raise the retirement age.”
Angry Bears are invited to explain what is wrong with this statement. For extra credit, tell us what can we do about it.
It appears to me that the financial crisis will be used as one more opportunity to loot the American people in the particularly cruel way of forcing them to work into deep old age by cutting their Social Security benefits below survival level.
The people who got the 700 Billion dollar bailout want it ALL. And they see a pretty good chance of getting it.