Hodl McGoo ⚡ on Nostr: Seems fair. The older generations gave their kids and grandkids the gift of crushing ...
Seems fair.
The older generations gave their kids and grandkids the gift of crushing debt to pay for a failed Social Security ponzi, a failed Medicare ponzi, and a failed Warfare State. Now that tradition has carried through to today, when each and every baby born in the US is saddled with $95k of debt by the federal government, owed for services already consumed by their parents and grandparents.
It gets better though. Not only do those babies each owe $95k for the consumption of their parents and grandparents, but they ALSO owe about $740k for the future ponzi handouts promised by those programs their parents and grandparents supported.
But wait, there's more! All of this ASSUMES that no NEW spending will be penned into law.
https://www.theglobeandmail.com/investing/personal-finance/young-money/article-nine-in-10-parents-are-helping-their-adult-kids-financially-heres-how/
The older generations gave their kids and grandkids the gift of crushing debt to pay for a failed Social Security ponzi, a failed Medicare ponzi, and a failed Warfare State. Now that tradition has carried through to today, when each and every baby born in the US is saddled with $95k of debt by the federal government, owed for services already consumed by their parents and grandparents.
It gets better though. Not only do those babies each owe $95k for the consumption of their parents and grandparents, but they ALSO owe about $740k for the future ponzi handouts promised by those programs their parents and grandparents supported.
But wait, there's more! All of this ASSUMES that no NEW spending will be penned into law.
https://www.theglobeandmail.com/investing/personal-finance/young-money/article-nine-in-10-parents-are-helping-their-adult-kids-financially-heres-how/