Tuesday, November 27, 2012

So totally screwed. Why $16 Trillion Only Hints at the True U.S. Debt

The actual liabilities of the federal government—including Social Security, Medicare, and federal employees' future retirement benefits—already exceed $86.8 trillion, or 550% of GDP. For the year ending Dec. 31, 2011, the annual accrued expense of Medicare and Social Security was $7 trillion. Nothing like that figure is used in calculating the deficit. In reality, the reported budget deficit is less than one-fifth of the more accurate figure.


Anonymous said...

The good ole shell game is alive and well and as long as the 'merican public plays the patsy..those snake oil con artists in DC will win every time. Ya know...it's been public knowledge since Reagan how the game works. The Grace Commission figured it out in 84'.
In that Parallel Universe known as Congress, they've known all along that 100% of collected yearly income tax goes to pay the interest on what these depraved cockroaches have borrowed. That means there is NOTHING left to pay for today. That's the first shell.
Since they haven't got anything to pay for today...they borrow more which raises the National debt. Hence PERPETUAL growing debt. That's the second shell.

And then we have the third shell. The 16th Amendment. As long as 'Merica believes paying their income tax is the "right thing to do"...well, maybe you get my drift.

Bottom line. Until 'merica pulls the collective head outta their ass, and see the game for what it is..their great grandchildren's great grandchildren will still be playing..that is..if they're not in a Fema camp.

But here is that thing they don't want you to find under any of the shells.

FACT. Given that the Obush Cartel has now usurped the Constitution by claiming they have the authority, via Eric the schmuck Holders "secret memo", to murder any American citizen they deem fit, and or PERMANENTLY detain with NO access to REAL "due process", this also means..the 16th Amendment is no longer valid either. And there my friend is the truth. If you are no longer protected under the Constitution, you are no longer obligated to it either. When 'merica wakes up to this fact..that's the day all hell will break loose. Have a good day.

Levon Spradlin said...

Want to lose some real sleep over the deficit? Become a regular listener to Andrew Gause's Real World of Money show. There's no fluff or filler there, no BS, just good in-depth analysis of economic policy. He's a monetary historian with more political understanding than most politicians.


Levon Spradlin said...

I'm just thrilled to see more and more average folks waking up to see the inherently violent system for what it is. I'm still waiting on that hundredth monkey, but we've got to be close. The only reason that we have despots to complaint about is because the populace consents to their actions, either explicitly through the vote or implicitly through lack of opposition to tyranny. Either way, I think we are making headway toward a voluntary society. We've tried every other type so far, and every single time we allow a select few to rise to a ruling class we are left with destruction and despair in their wake. It's time for something truly different.

Anonymous said...

Try this one at home:

"Honey, I've decided to move the house payment off-budget."

Remember those Clinton budget surpluses? In fact, in all but two of the years since 1980 we have added to the national debt. That means regardless of what foolishness they pulled with the federal "budget", the country ran a deficit. Once was under Reagan and the other under Clinton.

Anonymous said...

Remember the quote from Patton that starts: "There is only one tactical principle which is not subject to change...."? Well there is a financial principle sumarized by Dickens that is also not subject to change.

"Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery." -- Charles Dickens, David Copperfield, 1849