The Motley Fool Discussion Boards
Retirement Discussions / Retired Fools
|Subject: Re: More Shutdown Fallout||Date: 10/17/2013 7:48 PM|
|Author: telegraph||Number: 18672 of 19655|
It's a sad day for retirees when every day of 'bond buying' is merely chopping the 'value' of your dollar. Devaluing it's purchasing power.
That's necessary since interest rates are at ZERO already, killing retirees living off interest from bonds and CDs.
A double whammy courtesy of Obama and his dysfunctional economic plan and of course, Obamakare - which has taken a point of economic growth with a lot more pain to come.
Not only did Obama get a blank check to ratchet up spending once again, he and his ilk rammed through a federal pay raise! including of course, all the congress men/women and their staff and the nearly 2 million other 'federal workers' ...most of whom we didn't even miss while they wre 'furloughed'.
Now, retirees face a bleak future with SS and Medicare on an unsustainable path, with 17 trillion in debt ($123,5000 for every worker in the country)......and...
not far off, interest rates will climb once again, and all the tax money will be going just to pay the interest on the 20 trillion that Obama will rack up before he leaves office.
Really really sad.
As to those still working....you're screwed. You'll have 80% tax rates, and your standard of living will be half of what it is today in 30 years. If our system lasts that long.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|