Lots of greedy people out there, guess I'm surprised! Our Great great grand childern will be paying for this for the rest of their lives! let just borrow the money from China! Sleep well and don't look in the mirror!
I used to say the same thing. Now, I've come to realized that our currency...and the currency of the world...is just paper. Our great grand children will not be paying for this debt. The Feds will just print more. After all, a Federal Reserve Note...is just paper. Unlike Gold or Silver, it has no real value. When Nixon got us of the Silver Certificate, our government knew that the Federal Reserve Note had a "fictional value." That value would dissipate in 40 years. Meaning, if you put a $1 in savings in 1972, it would not buy a $1 worth of goods and services in 2012.
The old way of thinking...Save for a Rainy Day...is no longer valid. What does one earn on one's saving.... a half of 1%? Money is a depreciating asset. You need hard assets like land, or properties - rental properties that pay for themselves if at all possible. A rental property that has been paid for by your tenants is more valuable to you than your home or retirement.
When you retire, what will you do to generate a large cash? Will you sell your home? Where will you live? But...you could sell your rental property...or let it pay you a monthly retirement check.
This is all a game of smoke and mirrors. We are in the game and our great great great grand children will be in it too.