Monday, February 13, 2017

The system can't continue past 2037

This isn't recent news but noteworthy nonetheless.  This is a quote from Paul Ryan on April 6, 2011.

We’re on a debt crisis path. We are on a path where the government goes from 20 percent of GDP, to 40 percent then 60 percent of GDP. We’re on a path where our debt goes from about 68 percent of GDP to 800 percent of GDP over the three-generation window,” Ryan said.
“I asked CBO to run the model going out and they told me that their computer simulation crashes in 2037 because CBO can’t conceive of any way in which the economy can continue past the year 2037 because of debt burdens,” said Ryan.
So, this quote is almost 6 years old, and I think the long-term outlook has improved since then.  Still, there is a Y2K38 bug that will occur on January 19, 2038, which seems like a "bad omen".

I'm trying to be proactive and positive here.  How can the system continue as is after 2037?

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