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Posts Tagged ‘Baby Boomers’

Can the United States of America afford a decades-long war with ISIS? Can the U.S. contain Russia should it annex its neighbors? Can we confront North Korea if its dictator teams up with a nuclear-armed Iran? Will Big Government have an incentive to secure our borders if we need new and future taxpayers — legal and otherwise — to service the interest on our debt?

There’s no doubt the United States has the best-equipped military in the world. But that may not add up to a whole lot of security if we don’t get a handle on the national debt — before it’s too late.

“I.O.U.S.A.” is as relevant today as it ever was when it debuted in 2008 on the heels of former Comptroller General David Walker’s two-year Fiscal Wake-Up Tour. The only difference? Instead of ~$9 trillion the U.S. is running a deficit today in excess of $18T. That works out to a staggering $3 million per minute — for a figure currently in excess of $56K per American!:

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The Price of Cheap: The Hidden Cost of E-Commerce

For years “energy independence” has been the catch-all solution promoted by politicians, talk radio hosts, newspaper columnists and others who point out that the U.S. is short on oil refining capacity. Nonetheless, petroleum production facilities are not only in the process of downsizing in response to a weak economy, but permanently so the Los Angeles Times reports in “Oil companies look at permanent refinery cutbacks” [March 11, 2010].

The oil industry, which as recently as 2007 broke so many profit records that allegations of collusion and price-gouging surfaced, is singing a different tune: Limiting supply to increase sagging profit margins is the solution, analysts say, for losses induced by everything from fuel efficient cars to retiring baby boomers who no longer commute to and from work.

And to think: Just a few years ago SUVs, with their paltry ~13 mpg, were the rage from Coast to Coast. Could it be that Cash for Clunkers, unintentionally so, was a little too effective — or are oil industry insiders selling Americans up the river when they can least afford it? Whatever the case may be, nothing says Green like fuel-efficient automobiles and the beginnings of an alternative energy infrastructure. Even so, the picture the LAT paints is far from complete. The Perfect Storm of tightening supply, increasing commodity prices, rising taxes and further job losses looms on the horizon.

Hang on to your hat! The price of life is going up.

(more…)

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It has been called the “dirty little secret” that everyone in Washington knows.

“We suffer from a ‘fiscal cancer’. It is growing within us. And if we do not treat it, it can have catastrophic consequences for our country.”

Assume those are the words of Congressman Ron Paul, M.D.?

Think again. Those are the words of David Walker, top accountant in the nation.

The U.S. Comptroller General of the Government Accountability Office hit the streets to warn Americans that the long-anticipated Economic Perfect Storm is not only brewing, it made landfall January 1, 2008. Walker began sounding an alarm last year “like an Old Testament prophet” according to CBS “60 Minutes”.

So is Congressman Paul an isolated alarmist — harping as he does on the precarious state of our “monetary system“? Or a modern-day Paul Revere? (more…)

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