that the SS program can be stabilized without significant and prompt
action to address the underlying imbalances. Failure to deal with the
problem in a timely way will result in a systemic problem for the US
economy in less than ten years.
While there are a number of proposals to address the imbalances, there
really are only two possible out comes. Either the 60-70% of the baby
boomer population who are highly dependent of SS are going to have the
benefits cuts, or younger workers are going to have to dig into their
pocket to pay for the Boomers for the next 30 years.
Bottom line; either a significant portion of seniors are going to be eating cat food, or the next few generations are going to be paying (unfairly) through the nose.
I have not written one of these critical pieces without getting a bunch
of complaints from the big guns who support SS (as it is) and maintain
that what I am saying is just bunk. They are wrong, I’ve been right all along.
Charles Blahous, the Public Trustee for the SS Trust Fund gave testimony (Link) to the House Ways and Means Committee on Friday. I think he laid it on the line rather nicely.
The 2011 Trustees’ report is the first in which Public Trustees have ever participated to have concluded that an era of permanent annual deficits has been reached.
This is important. It’s all you need to know. SS has turned a corner. It
is headed south. It will continue to head south as far as the broader
economy is concerned for the next 75 years (actually SS is in perpetual deficit).
Social
Security expenditures exceeded the program’s non-interest income in 2010
for the first time since 1983. This deficit stood at $49 billion last
year and is projected to be $46 billion in 2011.
These are not small numbers. The $100b shortfall in 2010-11 is a fairly
big burden given that the rest of the government’s finances are in such a
hole. Blahous said something that may have been a “tell” as to what we are looking at in the future with these deficits:
This deficit is expected to shrink to about $20 billion for years 2012-2014 as the economy strengthens. After 2014, cash deficits are expected to grow rapidly as the number of beneficiaries continues to grow at a substantially faster rate than the number of covered workers.
Blahous is not following the SS “script” with this comment. These are the projected deficits based on the SSTF annual report:
Note that the “projected” annual deficits remain fairly small all the
way out to 2018. So what is Blahous referring to regarding big deficits
post 2014? SS provides an alternate forecast that they call the
“High-Cost” analysis. This chart looks at the two forecasts together.
For Blahous to suggest to Congress that the deficits will be “growing rapidly”
post 2014 represents (to me) that the real thinking inside of SS is
that the actual results will be closer to the worst case scenario.
Should that be the result, the cumulative deficit at SS from 2011
through 2020 will be a very lumpy $900 billion.
My own review of the numbers says that we have little chance of achieving even the results of the high cost analysis. It is likely to be much worse than that.
The problem is that the economy is simply not producing enough jobs.
There are fewer workers contributing to the system. The SSTF is
anticipating “a strengthening economy”, I see no evidence of this today
and have no expectation for a turnaround in the jobs picture any time
over (at least) the next five years. The following graph says it all on
payrolls in America. The recession killed us. As of today the number of
workers contributing to SS is less than it was in 2000. Look at this at
you will understand the problem.
I think that Blahous made some important comments. One’s that will shut up the defenders of SS. The argument that those defenders repeatedly use is that SS does not impact the current deficit. That is flat out wrong:
Social
Security operations are currently adding to the unified federal deficit
and will add substantially more in the years to come.
The facts folks. SS is adding to the annual budget deficit ($116b in
2011). It is adding to our funding deficit (the amount we need to borrow
from the Public). That number was a manageable $49b in 2010 but it will
grow every year from now on. In less than a decade it will become
unmanageable.
Blahous spoke about the “Assets” of the SSTF. The believers in SS constantly point to the huge $2.6T surplus at SS and say: “There is plenty of money in the piggy bank. There is no need to mess with SS today”. That is not the case at all.
If we look at the bonds from the perspective of the Trust Funds, they are assets. If we look at them from the perspective of the unified federal budget, they are a net wash, as are the interest payments that they receive.
Folks, there are no Assets in the Trust Fund. There are pieces of paper
to be sure. But they are just pieces of paper. The merely represent
claims on future taxpayers.
The following words are, I think, critical to the debate on SS:
The costs that will be borne by younger generations will grow significantly each year that a new cohort of baby boomers joins the benefit rolls.
I am screaming at the top of my lungs, “How can we let this happen?”
To me, it is absolutely insane to think that the Baby Boomers (I’m one) can put the burden of SS on younger workers. This simply will not work.
The result of a policy approach that sticks everyone under 50 with the
cost of the Boomers is going to result in deep social divides. We have
enough problems in our society today. We don’t need/want Age Warfare to be added to the list. But if the plan to “fix” SS is one that sticks the bill onto young people we WILL have age warfare, it’s inevitable. The social consequences would be greater than the economic costs. Why does no one see this?
Addressing the imbalances at SS will be painful, and no one likes pain.
So the result has been that our political leaders just kick this can
down the road. I don’t think that there will be any fixes at SS until
after 2012. While an extra two years will not result in a crisis, it
will result in a higher cost of the necessary fixes. I hope all the
defenders of SS read what Blahous has said on this:
Elected officials will best serve the interests of the public if financial corrections are enacted at the earliest practicable time.
Earlier action will also afford elected officials with a greater
opportunity to minimize adverse impacts on vulnerable populations, including lower- income workers and those who are already substantially dependent on program benefits.
The big defenders of SS call themselves Liberals. Paul Krugman and Dean Baker are on top of the list. But there is nothing liberal about their position. Who is going to be most hurt by what is coming (absent changes)? The answer is clear. Older people who are 100% dependent on SS and younger workers who are on the bottom of the income scale.
The Liberals have to come to understand their dilemma. The more they put
their foot down and demand no changes to SS, the worse off will be
those that they are actually trying to help. The liberals are shooting their own constituency.
Note: On these matters I consider myself a liberal. But I
come to a completely different conclusions than those who actually call
themselves Liberals.
My position on this complicated issue:
-We can’t cut benefits across the board. Too many people would be eating cat food. That’s not American.
-We can’t put the burden of the Boomers on younger workers. It’s simply not fair. That’s not the American way either.
-The solution(s) have to be born (largely) by the Baby Boomers
themselves. Post the Boomers, SS can be a PayGo concept. But the
transition is not PayGo. It is a huge inter-generational transfer of wealth. This means that well off Boomers (there are many, including myself)
are going to have to dig into their pockets to support those in their
age group who did not fair so well. That, in my opinion, is the only
viable solution. That would be more representative of the American way. Fairness.
Hello Colonel! Watch the cartoon, the american dream, on this page
http://usawatchdog.com/memorial-day-and-the-last-nail-speech/#more-
Best explanation I have seen so far on how we have been destroyed by the bankstas
I really was born a couple of hundred years too late. Thanks, Hulk.
Painkillers during dental procedures makes it worth the wait!
I've never had a dental procedure, but I've had some post-accident related surgeries, so I give you a +1 on the pain killers.
My mom never let us have sugar when we were kids. (except holidays) All carob and honey, goats milk and cheese, homemade hot cereals, obnoxious cold cereals from the co-op.... Other than orthodonture, I haven't been to the dentist in twenty plus years. I've never had a cavity or a toothache. God my mom's a bitch.
Son ofa bitch! figured it was possible to get through life without a cavity. Did you have well water?(minerals) I've broken close to a dozen bones and the worst friggin pain I have ever been in was an infected socket after a molar was pulled.(which I now don't think was necessary)
In a fiat based economy the entire concept of social security becoming defunded or its financing becoming a burden on youth, only shows one's true lack of economic understanding.
If all value is but a number wished into existence by the Federal Reserve, then with the merest of keystrokes so too the social security deficit can be erased and changed to a surplus. All debts are merely an illusion in a society that believes paper is wealth.
The magic machine is used to inflate Wall Street and its fake securities and bets and counterbets, all merely inflating illusion and adding nothing to creating real companies and real products. Such a machine can surely be used to create real companies with real products and real jobs.
We are beyond conventional economics, why must Social Security obey archaic laws that have been abandoned by those doing God's own work in creating the new financial structures for the new century?
Realizing that it is all a lie, an illusion, a ponzi, and I'm not being specific to Social Security but rather the entire economic system, why then can't the political machine use the tools it has created to foster the illusion of surplus and wealth for all? What is the political usefulness of this current crisis? Why is it only now being trumpeted by the corporate press? What is really going on that we should be concentrating on rather than this false contraption meant to capture our interest and hold our gaze?
What is the purpose of our current crisis? Who will gain what, from whom? That is the question to really ask yourselves.
Disbelieve all arguments couched in terms like liberal and conservative, they are merely pejorative meant to manipulate your logical thinking process by controlling and using your emotions. There are no liberals and conservatives, merely corporate tools bent on doing their masters works. Open your eyes and see the real world, think with your brain not your reflexes.
"liberal and conservative, they are merely pejorative meant to manipulate your logical thinking process by controlling and using your emotions."
here here brother. dead on.
"Realizing that it is all a lie, an illusion, a ponzi, and I'm not being specific to Social Security but rather the entire economic system, why then can't the political machine use the tools it has created to foster the illusion of surplus and wealth for all?"
Because like in the Wizard of Oz, the system eventually cannot deliver on it's illusions, it's promises, and the curtain gets pulled when the recipients have no other options.
So the story goes like this:
1) 1930s ... Depression
2) Create social safety net, tax rich at >60%, strengthen middle class ---> Economy does great
3) Improved wages, improved quality of life, improved economy
then
4) Deregulate, kill unions, depress wages, lower tax on the top 10%, allow casino style banking and investment
5) Enter the series of economic bubbles at increased rate and depth (a.k.a. look at how much we can haul away from the middle class!)
6) Economy sucks
7) Proposed remedy: lower wages for middle class, tax cuts for the top 10%
8) Economy sucks more!
9) Proposed remedy: cut benefits, do away with social safety net, repeat 7) hoping for different results
NOTE: Through the pain of 4) through 9) the top 10% has increased their wealth and income exponentially!!
SOLUTION:
Can anybody see what did work in this timeline?!
............................................................................................
Did I hurt your feelings?! .... Junk away and kiss my a$$
You forgot free trade, open borders, increased military spending, loose credit, the repeal of sarbanes-oxely and the formation of the Fed.
Those SS dollars would be going further if the Fed had not devalued the dollar.
tax increases reduce economic growth and job creation. your a tool.
get an education.
Yep... since we have been in Reaganomics mode for the past 30 years ... we can see the economic growth and job creation happening all over the nation ....
save us! SAVE us! SAVE US!!! Pleaaaase! ---> http://www.youtube.com/watch?v=QcI3aAMnwPk
do it now! DO IT NOW!!! Pleaaaaase! ---> http://www.youtube.com/watch?v=jVQyLOhhVO8
Got plenty of education here .... it just hurt to see people suffer because of morons like you!
increasing productivity while at the same time reducing taxes and spending is the only proven way to grow an economy.
its just that your mouth is too tight around obama's junk to breath, you can only swallow his drool.
get back to work at your soros' funded job
You are really ignorant!!!
You moron .... once again .... if that is the case, why is the economy in this state .... you idiot!!
The wealthy are paying less that ever and productivity is at the highest ever ....
YOU fucking moron!!!!
you make the retarded look gifted, dumb ass
the top 25% earners are paying a higher percentage of taxes year to year for the past decade.
now get back to your socialist jerk circle where you belong
Bond ... did you say something?
pull your head from your ass ... I can't hear you, like that!
intellectually pathetic
http://goo.gl/FnxBZ Treasury Direct $14 Trillion Debt
http://goo.gl/TMl74 $15 Trillion in Loans
http://goo.gl/EXzal ='s $29T
http://research.stlouisfed.org/fred2/series/BASE 3 Years 300% More Dollars Printed Out of Thin Air!
what does this have to do with the idiots idea to strip mine the assets of the top 25% of wage earners to pay down (laughable) the national debt?
on Sun, 06/05/2011 - 11:26
#1341156
what does this have to do with the idiots idea to strip mine the assets of the top 25% of wage earners to pay down (laughable) the national debt?
***********************************************************
the top 10% earns how much of the total?
verse the negative multiple paid in Taxes..
for the same amount of monies earned, taxed.. use a round number like a Billion..
Collect a Billion from the bottom 90% with a tax rate COLLECTED. you do understand collected verse scheduled, right?
now a billion from the top 10%.. what is the rate collected?
but to KISS.. the reality of what is collected verse what is earned.. in the two groups is.. well you will see.
a balanced budget, reduced spending at the federal and state levels, american productivity and ingenuity, and tax cuts for all, will get us where we need to be.
more Republican Tax Cuts!! YAY!
fucking kill yourself!
50,000 jobs a month since the year 2000.. have been moved off shore and to china more specifically..
but you want to talk about technicalities? really? tax breaks for Corporations Moving Jobs to China to the tune of 50,000 American Jobs a Month and you seriously, really and truly want to hide behind what?
And you say I am a what? A sheep? 50,000 American Jobs per Month since 2000 have been shipped to China and the Corporations who shipped those 50,000 jobs a Month to China got a fucking Tax Break for doing so!
How about you shoot everything you have spawned and then turn the gun on yourself and do this Country a Fucking Favor! You and Your Treasonous Kind will have your day and they way the FED keeps going it will be sooner than later!
***** “Over the last ten years, China has mounted the biggest challenge to the U.S. manufacturing sector ever seen, threatening producers of steel, chemicals, glass, paper, drugs and any number of other items with prices they cannot match. Not coincidentally, the United States has lost an average of 50,000 manufacturing jobs every month during the same period.” *****
http://blogs.forbes.com/beltway/2011/02/14/intelligence-community-fears-u-s-manufacturing-decline/
Top 10 corporations which paid no taxesHere is Sen. Sanders’ list of the 10 worst corporate income tax avoiders:
1) Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings. (Source: Exxon Mobil’s 2009 shareholder report filed with the SEC here.)
2) Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion. (Source: Forbes.com here, ProPublica here and Treasury here.)
3) General Electric made $26 billion in profits in the United States over the past five years and, thanks to clever use of loopholes, paid no taxes.(Source: Citizens for Tax Justice here and The New York Times here. Note: despite rumors to the contrary, the Times has stood by its story.)
4) Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009. (Source: See 2009 Chevron annual report here. Note 15 on page FS-46 of this report shows a U.S. federal income tax liability of $128 million, but that it was able to defer $147 million for a U.S. federal income tax liability of negative $19 million.)
5) Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year. (Source: Paul Buchheit, professor, DePaul University, here and Citizens for Tax Justice here.)
6) Valero Energy, the 25th largest company in America with $68 billion in sales last year, received a $157 million tax refund check from the IRS and, over the past three years, received a $134 million tax break from the oil and gas manufacturing tax deduction. (Source: the company’s 2009 annual report, pg. 112, here.)
7) Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department. (Source: Bloomberg News here, ProPublica here, Treasury Department here.)
8) Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury. (Source: Paul Buchheit, professor, DePaul University, here, ProPublica here, Treasury Department here.)
9) ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2006 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction. (Sources: Profits can be found here. The deduction can be found on the company’s 2010 SEC 10-K report to shareholders on 2009 finances, pg. 127, here.)
10) Carnival Cruise Lines made more than $11 billion in profits over the past five years, but its federal income tax rate during those years was just 1.1 percent. (Source: The New York Times here.)
http://www.greenpartywatch.org/2011/04/30/top-10-corporations-who-paid-no-taxes/
and...
‘Dutch Sandwich’ saves Google billions in taxes Internet giant uses complex structure to keep its overseas tax rate at 2.4%http://www.msnbc.msn.com/id/39784907/ns/business-us_business/t/dutch-sandwich-saves-google-billions-taxes/
and..
Microsoft’s purchase of Skype for $8.5 billion provides a perfect illustration of why adopting a true worldwide corporate income tax system is critical to our economic future.
According to the Wall Street Journal, the cash for Microsoft’s purchase of Skype (a Luxembourg-based company) will come out of its $42 billion in liquid assets held in foreign subsidiaries.
Because it is purchasing a foreign company with its overseas assets, Microsoft can avoid paying any U.S. tax that would be due if it had repatriated foreign earnings in order to purchase a US company for the same amount. Based on the company's effective foreign income tax rate disclosed in their most recent SEC filings, a repatriation of $8.5 billion dollars would cost Microsoft somewhere in the neighborhood of $1.1 billion in U.S. tax.
As a Forbes commentator opines, the Microsoft-Skype deal demonstrates the harmful incentive created in our current system that encourages companies to invest in overseas companies rather than domestic ones. The fear is that this deal may just be “a harbinger of things to come.”
http://www.ctj.org/taxjusticedigest/archive/federal_tax_issues/tax_avoidance_tax_evasion_and/offshore_abuses/
Republicans to roll out new tax-cut proposal: WSJ
25 May 2011, by Michael Kitchen - Los Angeles (MarketWatch)
http://www.marketwatch.com/story/republicans-to-roll-out-new-tax-cut-proposal-wsj-2011-05-25
Republicans in the U.S. House of Representatives are set to unveil a new economic proposal Thursday that will cut taxes for multinational corporations and lower other tax rates.
Interesting.
Since we've seen nothing but tax CUTS over the past 10 years, then obviously, if the top earners are currently paying MORE in taxes, maybe we should try the opposite approach.
Kinda like the Laffer curve, right? INCREASE the tax rates on the top 25% of earners and they should end up paying LESS.
(derp derp derp)
i think it's important to keep this birds eye view of events leading to where we are today. it cuts through the clutter of the minutae. i can't understand how the right (no fan of the left here, either) sells their tax cuts / deregulation / union-killing agenda given what should be crystal clear to everyone. how do they do it? that's a rhetorical question. i know the answer. but it is a wonder to behold.
LOTS of hard-working folks have been finding life increasingly difficult over the past 20 years, and the easiest way to cope with this is to blame someone else. If you work hard and things aren't going well for you, you end up with a lot of cognitives dissonance if you've absorbed our economic mythologies.
The common enemies are: "liberals," welfare recipients, and illegal immigrants.
Less common ones, but still good standbys, are: Jews, intellectuals, and socialists.
Guess it's just one of those things that happens every 50 years or so.
+infinity.
Good luck finding it--never works. Work, capital, and income go underground. Government will print oceans of dirty wads of Bernanke Pesos to pay for these "benefits" and the living standards of many "seniors" will approach third-world levels. Inflation is the lie which will dupe them all.
BRAVO!! The ones with the money are gonna have to be the ones that pay.
http://goo.gl/FnxBZ Treasury Direct $14 Trillion Debt
http://goo.gl/TMl74 $15 Trillion in Loans
http://goo.gl/EXzal ='s $29T
http://research.stlouisfed.org/fred2/series/BASE 3 Years 300% More Dollars Printed Out of Thin Air!
OK... Thanks for the 17th posting of those facts/links. I almost overlooked them.
trying to get people to stop talking about what the 24 hours a day news channels have had on full blast lately!
trying to get them to see the $29 Trillion that is most certainly well beyond that number then let alone now, given all the other streams I ignored when throwing some numbers together.
so while people discuss a few hundred billion so that old people can afford to eat.. trillions upon trillions are liberated from those same stupid people.
get it turkey?
Don't make the Racoon angry.You wouldn't like it when he's angry...
Rocky read one of my last posts first up top and got thrown out the gate.. no harm no foul! so Rocky has been spanking me the whole way down.. I think Rocky has made it to page 2 by now and knows why it reads the way it does!
The middle class here ... the middle class there are growing leaps and bounds. Capital owes no allegiance other than profit. A worker who does the same job cheaper in an Emerging Market is simply better than an American worker that costs too much. Capital is blind to any nuance, its all numbers. The exponential growth of the upper crust is not due to theft from the American worker and middle class, but theft from the global labor pool. Only the Americans really notice at this point since they are getting squeezed... everyone else seems quite happy with the arrangement. Only if America's corporate titans are threatened by civil unrest will the situation be broached. By that time, they'll probably be living next to Jim Rogers in Singapore or some other paradise and will not give one hoot about Mad Max on the Hudson.
Wrong. The answer is not to make the US conform to the world, but to make the world conform to the US.
Which is convieniently small enough to take out with a small amount of conventional or nuclear weaponry. They'll get to enjoy a gamma-ray flash followed by the last few seconds of their tax haven's existence.
The answer is not to make the US conform to the world, but to make the world conform to the US.
Yeah that's working like a charm lately.
http://goo.gl/FnxBZ Treasury Direct $14 Trillion Debt
http://goo.gl/TMl74 $15 Trillion in Loans
http://goo.gl/EXzal / ='s $29T
http://research.stlouisfed.org/fred2/series/BASE 3 Years 300% More Dollars Printed Out of Thin Air!
Capital here ... Capital there ....
It's never just about business, it's always about people.
And when an entire nation is under attack by a Blindly Corrupted form of Capitalism, it has a right to defend itself!
Get it?!
To come out of the 1930s depression, it took a President with the balls to take head on the banksters ....
anybody up for the job?
Certainly not the Progressive fascist residing the White House.
Thank goodness you finally got here and posted a comment. I've always said that ZH is a perfect cross section of the population. Until now the utterly stupid has not chimed in. You have now rounded out the profile.
World War II with its subsequent rebuilding of the world had nothing to do with it....
It's an interesting version of history you read. You borrow that book from Krugman?
We're in three wars .... economy boom right there!!!
Idiot!
You either miss, or refuse to address the point. It was the post war years that dug us out of the hole. Comparing that to fighting in the Middle East is ridiculous, and you know it.
on Sat, 06/04/2011 - 15:37
#1339725
You either miss, or refuse to address the point. It was the post war years that dug us out of the hole. Comparing that to fighting in the Middle East is ridiculous, and you know it.
*************************************************************
But the Wars are NOT digging this hole.. and they wars by themselves never dug the hole!
by ColonelCooperon Sat, 06/04/2011 - 15:37
#1339725
You either miss, or refuse to address the point. It was the post war years that dug us out of the hole. Comparing that to fighting in the Middle East is ridiculous, and you know it.
The Bankers Dug the hole.. the 6% interest that the FED Share Holders Earn on every dollar created..
6%.. see the FED web site for the exact language. is the problem, it has always been the problem and it will always be the problem as long as everyone spends their days and nites discussing whatever CNBC / CNN / Faux News have on full blast 24 hours a day!
everyone is still looking where the money is NOT! just like they want you too! just like they have programed everyone too do!
Dude, I'm talking to dipshit, who thinks that FDR, the new deal, and Keynesism pulled us out of the great depression.
He wants to compare our warmongering today with WWII. If tomorrow, we blow up 3/4th of Europe and get paid to rebuild it I might agree.
That fucker is a troll of the first order, and is dodging the point of my argument. He thinks I'm diametrically opposed to his way of thinking, (and claims to denounce right/left - isms) but is so blinded by his ideals he can't hold a decent conversation. If he would take a deep breath and actually listen, he might find we have some common ground (as do you and I even though if labels were to be attached, we are polar opposites) instead he flames out, and argues points that were never made.
He is either a troll, or as his name implies, an idiot. I think perhaps it is RNR's latest incarnation.
my bad.. skimming! sorry Colonel!
Not a problem, my good man. You and I are on the same page, even if we disagree on semantics and method. I'm willing to bet however, that you and I could probably make headway at a table..... Tell the truth as you see it, never sell out your principals, and be able to recognize uncommon similarities.
You mean like doubling the the Pentagon budget since 2001 ... and fighting three wars, and spending $Billions abroad ...
yep... reaping fucking benefits right here ....
We'll need a revolution..The Dems will hand over everything to the Republicans to carve up..They are the same party...The corporate party and YOU ain't in it!
The biggest problem is lack of TAX receipts. One of largest reasons for less tax coming in are fewer jobs and NAFTA is the problem. The point man for Clinton ramrodding NAFTA thru was one Rahm Emanuel who was in the Whitehouse for 8 years. When Obama appointed RAHM as Chief-of-Staff on day one I knew the democrats didn't care about jobs. Lyndon Johnson and his Congress wanted "guns and butter" in the late 60's and proceeded to steal the SS trust fund. This is mostly a democratic betrayal of the American worker. Add the illegal alien problem which neither party will fix and we are done....buy bullets....yer gonna need em!