Thursday, July 02, 2009

demographics matter

Deficits and debt mean government spending today will be paid for by future taxpayers, our children and grandchildren.

Mark Steyn makes a good point in his book America Alone. Among other things, he says fertility levels in the US, at 2.1 live births per woman, are at about population replacement levels. Canada's, at 1.5, and Europe's, at 1.3 are not, meaning the population is shrinking.

So, if you are expecting the government to pay you a generous pension based on future tax revenue, instead of funding your own retirement from your own investments, you might want to reconsider.

There may be few taxpayers in the future left to shaft.

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