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National Debt Will Reduce Next Generation’s Income by 10-30 Percent

Posted By Daniel Greenfield On November 3, 2012 @ 9:13 pm In The Point | 1 Comment


There are two ways to run a country. On real economics and on imaginary economics. The numbers are still the same, but using imaginary economics leaves two sets of books. One real and one unreal, but the only one that really counts is the ledger with the real numbers [2] because no matter how many fake numbers are put out there by a fake media in defense of a fake economy, the real numbers always catch up [3] with you in the end.

A new study by Stanford economist Michael Boskin estimates that the debt, if left unchecked, will have “severe negative consequences” for family incomes over time. The debt will reduce the average family income by 10 percent in 2030, by 17 percent in 2040 and by 30 percent by 2050. So if the average family could be expected to be earning, say, $80,000 a year by 2030, their actual pay would be $72,000, and $8,000 of income would be wiped out by the debt.

Considering the economic consequences of the national debt to the value of the dollar, one could speculate as to just how little that 72,000 dollars would actually buy.

All those kids being used in Dem videos, they’re the ones who are actually going to have to struggle with that 2030 economy, complete with 35 trillion debt and tens of millions of graduates with no jobs. They are the future. And the Democrats are building that future on sand by the beaches being hit by Hurricane Sandy.

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URLs in this post:

[1] Image: http://frontpagemag.com/2012/dgreenfield/national-debt-will-reduce-next-generations-income-by-10-30-percent/obamabill3/

[2] the ledger with the real numbers: http://professional.wsj.com/article/SB10001424052970203707604578090942650610694.html?mod=WSJ_Opinion_LEFTSecond&mg=reno64-wsj

[3] the real numbers always catch up: http://endingspending.com/

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