@hawkeye10,
hawk, Good article; it's about the governments that try to do too much in social benefits that cannot be sustained - as economies goes through its up and down cycles, tax revenues shrink as unemployment increases, the retired population continues to grow in relationship to its revenues, and the cost for social programs continue to take over more of the countries revenues.
It's an impossible situation, because the same governments fail to correct the problems with adjustments for longer life and not enough collection in revenues.
On top of all this is the imbalance of pay structures where the CEOs wages and benefits take over most of the companies profits (23% increase last year) while the middle class wages remain stagnant, and they are required by the same companies to pay more of their health benefits.
This trend has been going on for too long for any corrective action that will solve this irreversible problem. It's too late in the game; unemployment continues to grow, and people are living longer.
We have a government in this country that still refuses to tax the richest amongst us - even though that same government continued to approve greater social benefits and the support of wars not even in our back yard.
We live in foolish times - with foolish voters and governments who refuse to make the necessary steps to help slow down this madness.
Samuelson is spot on!
