We are already at the point where the entitlements are in serious jeopardy. Remember that FDR cut pensions to the veterans when he came into office. Something has to give soon, what is it going to be? We OWE 9 TRILLION DOLLARS! No one wants to talk about where in the hell this money is going to come from.
They have to be doing this with the intention of destroying public education, all entitlements, the VA, SS, it's toast I fear. I see a bleak immediate future while the books are balanced, the all powerful IMF will demand it. Remember what happened to Argentina!
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A “Technical Memorandum of Understanding,” dated September 5, 2000, was signed by Argentine Central Bank President Pedro Pou for transmission to Horst Köhler, managing director of the International Monetary Fund.
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The “understanding” required Argentina to cut the government budget deficit from $5.3 billion in 2000 to $4.1 billion in 2001. Think about that. Eighteen months ago, when the document was drafted, Argentina was already on the cliff-edge of a depression. One in six workers were unemployed. Even the half-baked economists at the IMF should have known that holding back government spending in a contracting economy would be like turning off the engines of an airplane in stall.
The IMF is never wrong without being cruel as well. Under the boldface heading, “Improving the Conditions of the Poor,” the agency directed Argentina to cut 20 percent from $200 monthly salaries paid under an emergency employment program. The “understanding” also promised a 12 to 15 percent cut in civil servant salaries and a pension “rationalization” (IMF-speak for a 13 percent cut in payments to the elderly)
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I recommend reading this little gem from Palast, it is an eye opener on how this works. It isn't pretty, freezing & siezing personal saving accounts and using them to pay foreign creditors, using tax receipts intended for education & social programs for debt repayment, you can see the handwriting on the wall quite clearly.
http://www.americas.org/item_172