Austerity is on the horizon. How low will it go? That remains to be seen, and is relative to the government’s austerity outreach program.
Is big government ready and willing to downsize, or is it planning a sneak attack through the back door with new sources of revenue by implementing new revenue sources on:
- Public transportation, airports, bus and train stations
- Churches, and the list goes on to include non-profit organizations, etc.
Austerity has rocked nations starting with Greece and Ireland, and the next wave is likely Portugal and Spain — eventually spreading to all European nations.
It’s a tough call, but it seems the appropriate steps are underway to downsize government, stabilize the economy and grow the private sectors. It is expected that European nations will:
What got us into this problem?
- Lay off hundreds of thousands of government employees
- Sell off government assets
- Freeze military spending
- Slash government health care programs
- Reduce pension income and/or increase retirement age
Growing government, socialism, and welfare.
“Government is not the solution, government is the problem.”
–President Ronald Reagan
So, what can Americans expect?
Annuity austerity safe haven
- Reduced Medicare and Social Security benefits and possibly new taxation
- Cuts in federal support for local services — police, fire, trash collection
- Sales of U.S. government assets could include gold
- More cuts in defense spending
- Cuts in higher education loan programs for Sallie Mae
- Reduction in pension plans
Annuity holders enjoy more income and more growth with less tax. Financial universities and economists around the globe conclude that income annuities can provide an income for life at a cost as much as 40 percent less than a traditional stock, bond and cash mix. Clearly, 40 percent of our retirement plan can continue to grow tax-favored to provide income increases throughout retirement.
America is where the people — not the government — make impossible dreams come true .