It’s true! At least to the same extent Mr. Bush is to blame for the current financial mess, and speaking as someone who is terrified by both of the extremes in American politics, he does deserve some of the blame.
For those of us in our early 30’s, there is little cause to be concern for ourselves (even at this advanced stage of economic sickness in the country). We must continue to work hard (or start for some), and hope for the best over the long-term. Honestly, the only thing that troubles me about the current mess is that it has a high probability of affecting my parent’s ability to retire at a reasonable age. This is the case for anyone over 50. As much as this is troubling on a personal level, it likely means a stay of execution for social security.
All the dooms day predictions of social security’s demise were based on all the boomers being able to leave the workforce in the very near term. Now, that those timelines will be extended for many unfortunate folks it probably means that another poorly constructed government program will have a much longer lifespan than anticipated only a few short months ago…
I do not believe anyone can predict what will happen in our economy in the next 6-12 months. I think the only certainty at this point is that all of our old assumptions will have to be re-evaluated once we get our collective heads above water.
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