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And on the breaking news out of Washington Richardson looks pretty difficult time getting the -- -- the chief.
Investment officer Cumberland advisors -- the rich is right you will see the the same political arguments that we always see after a report like this comes out but.
Just to recap just stand and in the Social Security stays the same as it has been but two years better than we had been in these projections about Medicare which side of the argument do you fall.
-- -- I'm on your side Connell I get my morning coffee so when -- -- -- recently so that's that's pretty got -- back that's the good news of the day.
Luke yeah well they had -- -- answers -- just it put it into perspective -- ever anti Social Security do we can fix this.
-- just use this analogy and it took us to get together and we could figure out Social Security if we had to.
-- Medicare is a much larger problem and so what we're how do you look at it and and and how what perspective would you put to these numbers we just got.
Well -- you're always there have these long projections are always gonna show that we're gonna run out of money ten or fifteen or twenty years and we always have to.
Argue about how to fix it.
When the crunch time comes.
In America we wait for the crunch time that's just our way.
And then we fix it how we fix it we extend retirement age is -- altered the benefits someone who must pay because in the end to end to have to add up to four.
These -- the newest projections the best way for the United States is -- have economic.
More robust growth more younger people working.
Do that and these programs -- run for the entire century.
That's the impediment growth is the lack of growth is the problem.
So that almost sounds like you're coming down not necessarily on the prescription.
That they might have thought of what as -- said but some.
To left to center role largely politically that -- just treat these things a little bit and and let's move on let's not have a complete overhaul is that true or.
Well a little.
I -- my answer is a practical one Connell the fact is we don't change this system we won't do what the politics in the United States won't permitted.
What our adversarial political system is stymied and throws it.
And that's what we have so we're not gonna change we're gonna debated argue it -- finger point in the end we're gonna key what we -- ending extending.
Even get the simplest things done as you know up politically in Washington but you know something like raising the retirement nation in these things that have been flooded out there for some time -- mean.
It seems to be sensible -- -- just look at the projections we did we do especially again just focus for second on Medicare -- security out of that just for the purpose of this discussion mean.
Seems to be sensible to at least get something like that done now.
Well it's sensible you and I could sit -- room in thirty minutes and solve this problem so could most of the -- in the country but in our political environment these things don't happen.
If that is true how you just real quick before I let you -- how do you feel about things anyway just generally speaking the economy.
You think things are getting better in the market looks pretty -- -- -- Yeah all of the -- them of the stock market's been wonderful of course is concerned about Japan I think Japan solves -- issue goes higher in the US stock market stock.
Has an upward bias we are dealing with these very very low interest rates we've talked -- -- several times over the course of the year.
And they are in place gonna stay in place for awhile when you're up against lower interest rates -- sets have an upward bias in price stocks real estate.
That collectibles that you name it there's an upward bias in price again the breaking news Richardson brought -- to us at this -- Social Security projections based at the same as last year Medicare.
Two years better than we were David -- Todd thanks a lot.
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