If you want to know the true result of big government’s insatiable appetite for spending and the effects on our personal finances and lives please read this entire article. Warning: if you’re not already doing so, be sure to sit down first. This is a shocker!
By Daniel R. Amerman, CFA Posted Thursday, 20 October 2011
There is a common but mistaken belief that the children and grandchildren of older Americans will be the ones who will be paying for today’s massive government deficits. In this article we will look at six different layers of the deficit and unfunded government promises and put them into personal, per household terms in order to get to the truth of the matter. This truth is that the deficits are far too large to be repaid by taxpayers decades from now, but will be instead effectively repaid through the destruction of retiree savings and retirement investment portfolios in the coming years.
The value of your checking account, the value of your IRA or Keogh, and the value of all your investments are - and will be - the true source of payment for deficits. The end result could be a 95% reduction in value for all of our savings, retirement and otherwise, as we will illustrate step by step herein.
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source http://kianorshahmohammadi.com/post/148116307215
source http://dentaleconomicsus.blogspot.com/2016/07/six-layers-of-deficits-mean-retirement.html
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