Ranting to /dev/null

No free lunch, part 3

So San Diego, as a city, is about to go under. It's $1.4 billion behind on its pension payments.

I've always thought that depending on a third party for your retirement security is a foolish idea. Your retirement will only be as safe as the institution in question is secure. Sure, your company may be in good shape for now, but what's it going to be like in 40 or 50 years? Heck, even gigantic companies like GM and Ford are in big trouble - though with their crippling UAW contracts that's no surprise.

Depending on the kindness of strangers is a nicely romantic idea, but in the economic real world that we all live it, it's utterly inexcusable. America has been doing that for decades now: we've been depending on the willingness of foreign governments to buy our bonds to finance half a century of deficit spending. It's time to pay the piper.

Thanks Boomers. Thanks a lot. I'm all in favor of dismantling Social Security in its entirety as punishment on a generation for arrogantly assuming that they can borrow from future generations with impunity. You know that implied social contract? That they take care of us when we're young so we can take care of them when they're old? After being screwed both relationally (a 50% divorce rate is just criminal) and now financially (none of them are going to leave us one red cent, thanks to a combination of nursing care and death taxes), the deal is freaking off.