Summary:   Here are some ugly numbers for August from the Chief Actuary of the Social Security system. This is a follow-up to Beginning of the end of the Republic’s solvency. Soon come the first steps to a reformed regime – or a new regime. (14 August 2009). Contents Monthly cash flow in 2009 for the US Social Security Administration …
Update on our government’s deteriorating solvency Read More »
Summary: Home truths about America’s health care system. It cannot long continue in its present form, and no substantial reforms appear likely until a crisis. At the end are links to other posts about this issue. . From a joint statement by the Social Security and Medicare Boards of Trustees, March 2009 The drawdown of …
Summary: Whatever happens during this recession, one thing is almost certain: the US government’s balance sheet will be trashed. Wrecked, perhaps beyond repair. This post discusses what we should do to mitigate the damage, and why such extreme spending is necessary. As described in “The most important story in this week’s newspapers” (22 May 2008), the …
A certain casualty of the recession: the US Government’s solvency Read More »
Summary: we have a bad case of debt deflation. Although well-described by economists since the 1930’s, this malady was not taken seriously by the mainstream of the profession. Now we have it. This post describes this macroeconomic illness (which will help you better understand events), and possible cures. The diagnosis is simple; the cures less so. …
