Dr. Lacey Hunt sits down for an interview and shares his insight on the problems pushed under the rug in America.
We are going to experience something we never have seen before. The birth rate is declining. Our demographics is deteriorating people are coming to the county in less numbers. We are an unsustainable destructive path. If we gage the employment levels we loss jobs in every age group except for the baby boomers.
The baby boomers are not retiring leaving staggering unemployment for young people. If we decrease benefits for Social Security we will also increase unemployment for young people. We need to stop pushing huge problems forward we need austerity in America.
Inflation does not solve the problem in the United States. Interest, Social Security. and Medicare, will be the biggest components of the budget by the end of this decade. If inflation takes off wages and GDP will not rise proportionately to offset the rise in prices.
The only way to fix the problem is to reform Social Security, Medicare, some modest consumption tax, and eliminate tax loop holes. It is not that we do not know what to do but will we do it.
Unfortunately the political will have to be there to do the things to sustain the United States. If the baby boomers do not retire there will be an overall increase in unemployment overall. The bang point is coming and eventually we will be far gone from salvaging this great country.