2012-06-19

Doom and gloom, American apocalypse

The public feels doom is imminent because they have negative mood.
'MODERN-DAY NOSTRADAMUS' WARNS U.S. OF DOOM
“My concern is we are experiencing an epic failure of leadership at almost every level of American society right now,” Rosenberg told WND. “Something has gone terribly wrong with the American experiment. Our families are imploding, our national debt is exploding, experts on the left and right are warning us that we need to change our direction because we’re on an unsustainable trajectory economically, socially and culturally.

“Unfortunately, too many leaders in our country are stuck in business as usual mode and Americans are getting anxious that the ice is cracking under our feet.”
There's certainly some reality behind the feeling of dread. The present value of all future U.S. liabilities, based on current Medicare and Social Security law and including all other debt and obligations, is $100 trillion, well beyond the ability of the American people to pay. However, it is mostly fueled by negative mood. In another time, the inevitable cuts would be ignored (1982 to 2008) or even seen as great reform about to unleash a new era of economic growth.

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