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Politicians around the world are telling their constituents that the only way they can continue to provide retirement services is for people to work more years. The conversation is seldom about the inefficiencies that got the government in trouble.
Instead, they place the burden of debt and grief on the backs of citizens. Republicans were once concerned about fiscal matters and fought to limit government. Now republicans are calling for more years of work to cover for both sides’ fiscal irresponsibility.
Instead of shrinking the government and lowering the overhead costs, they are asking for the elderly to serve the government with several more years of service. The conversation is heating up globally. In France, President Macron is pushing forward with his plan to raise the pension age from 62 to 64.
While this sounds like a luxury of youthful years compared to the American plan to raise from 67 to 70, the reality is that the citizens are revolting. On Thursday, France saw 3.5 million take to the streets and begin demonstrating and calling for the resignation of Emmanuel Macron.
The city is burning, with bridges collapsing and Molotov cocktails being thrown at law enforcement. The violence seen could be spreading to the UK, as they are also now discussing a similar measure. This begs the question, why are all of these UN countries starting to discuss raising the retirement benefit age? The answer is complex, and I attempt to explain the many different factors to consider in today’s show.
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The money is not there in the pension g8nds- it is long gone.