I came in to this thread upset by the incredible partisanship and bickering that's making any real reform impossible, and it's really not hard to find examples of that.
This is not a partisan issue - it's math. The data are just the current financials, and population data assuming that people will age and their health will deteriorate.
The most unsettling part is that this is just becoming an issue now, when it's something we've known was coming for decades.
Welcome to politics on LPSG!:biggrin1: It gets more like the Crips Vs the Bloods everyday!:smile:
Unfortunately, neither the bankers who earn interest on money drawn from thin air (fiat currency) & our happy state of perpetual debt, nor the politicians they finance, nor even the people who elect them care about these things, until it's too late.
On the student fees thread, I've just underlined how politicians use deferment of expense as a tool. Avoid paying now - & pile all the crap on future generations. That way you can do grandiose schemes that you couldn't otherwise afford.
Voters like this - they can't see that it's going to cost 3,4,5 or 6 times more when the bill comes in - because it'll be in 20/30 years time! Hooray!
Final salary pension schemes were a Ponzi scheme. You have to have an ever widening base of the pyramid. Add the fact that people are living longer means that the Baby Boomers are getting benefits that they haven't even contributed 40% to.
It's always another generation's issue, because they ain't voting today! look what us suckers will be paying in interest payments alone in the years to come.
The young will be literally working to pay off the debts of the old. That's why death duty increases are a bloody good idea right now.
In the past Nero put a death duty rate of 100%, but he couldn't wait for them to die, so he invited rich people to kill themselves or be killed horribly.
That's why in times of economic darkness, a new light has historically been delivered in the shape of a very bloodthirsty war, or a famine. Yikes.