They'll just print more.
Posted on 02/29/2008 12:25:15 PM PST by AngelesCrestHighway
When the U.S. government's official 2007 financial report was released last December, the response could hardly have been worse. Not only were its ratios worrisome enough to make corporate shareholders blanche, but its results were so full of "serious material weaknesses" that the Government Accountability Office could not even audit it.
In the absence of an audit, the Treasury Department and the Office of Management and Budget heeded the GAO's advice and released a more informal report titled "The Federal Government's Financial Health: A Citizens Guide to the 2007 Financial Report of the United States Government."
Some of the language in the eight-page summary document — boiled down from a dense 186 pages — is scalding, and the projections border on the terrifying. The first such guide, it was produced in hopes of helping the public understand America's long-term financial predicament. But what it is that's to be understood is distinctly scary.
"Unless action is taken to bring program cost in line with available resources, the coming surge of entitlement spending will end in a fiscal train wreck that will have an adverse effect on the U.S. economy and on virtually every American," the report says......
I thought that, as the Dems counseled me in 2004, “there is no crisis”.
The CFO(s) need to be jailed.
Even the money for the stimulus package is borrowed.
They have huge retirement gold mines.
I know. Buy gold.
bookmark
"Do the star struck idiots backing Barrack Hussein Obama realize he would speed up this train wreck?"
Since when have Democrat's or RHINO's ever given a rat's butt about fiscal responsibility?
Lock&load
Oh, and by the way ...
ΜΟΛΩΝ ΛΑΒE
Doomed again?
ΜΟΛΩΝ ΛΑΒE
Not to worry. The Dims will just raise the tax rates on the rich. Works every time !
From what i have been able to pick up, the situation has been this way for about a decade
I am afraid it is accelerating anyway...
You know the Dem Yada Yada Blah Blah Blah is getting old, and seems to me, is factually incorrect.
What was the federal debt when Shrub got in?
What is it now?
Get my meaning yet?
ouch!
http://www.skymachines.com/US_National_Debt_Per_Capita_Percent_of_GDP_and_by_President_1976-2005.htm
I see fuel at $4.00+ very soon
Prices for goods & services climbing to the sky
Geezers & soon to be geezers yelling give me more
A traitorous Congress that will not even attempt to act responsibly ... and you believe this can go on for how long?
Better dig deeper, deep pockets.
ΜΟΛΩΝ ΛΑΒE
Have no fear. The government holds the power to tax the living crap out of us all. For our own good of course.
Well, at least let’s be fair about it.
The “geezers” have been paying in their whole life.
My dad died at 51 and never got a nickel.
My mom died at 64 and also never got a nickel.
I imagine at least some of the money they paid in went to single moms of the boomer and X gen.
What I’m saying is this: People can come on here all they want and spout about how it would be so, so, so much better if the pubbies... blah blah...
Like we’re the most fiscally responsible, solid as a rock!
But it’s a freakin dream. It’s patting ourselves on the back for something that is demonstrably false. It somehow makes some folks be able to have a good night’s sleep or something. Like how the Dems get a good night’s sleep when they pass a law saying you have to spay or neuter your pet or they pass some program for midnight basketball or whatever is the current delusion.
My bet is the “good night’s sleep” days are gonna get alot more few and far between. Cause it’s gonna hit the fan in some way. It cannot be fixed by doing more of the same old.
To really get out of this mess, we are going to need to cut spending and (gasp) back off entitlement programs. The LAST thing I would touch is Social Security.
If they do the necessary things, we will have seniors and other groups screaming bloody murder, they didn't get their free scooter or Katrina check.
Of course, the Dems want to INCREASE entitlement programs and make healthcare universal. Crap, I can see a 70% tax bracket in the future.
Possibly. We may be fully blown wards of the state by the time it gets to that. There won’t be a need for money. We will simply get to each our own, according to our need.
I agree 100%
FWIW ... I am an old geezer, and worked (now retired) for everything I have. Of course I'm a white geezer, born in the USA, and that was expected of me.
Just don't like the idea of having to come back from the grocery store one day soon, and have to tell the old girl they are closed and there is no food, and then having to go hunting.
How do you cook a crooked politician anyway?
ΜΟΛΩΝ ΛΑΒE
And from each, according to our richness.
They're so addle brained; they don't even know they're ON a train.
Repost for emphasis.
There must be a lot of people who feel that way!
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Wow....
My suggestion for a start: the first five percent of your non-housing assets each year is your Medicare deductible. If a senior has a million dollars (and many do) they can certainly afford to pay the first 50K of medical cost themselves—or more likely, find an insurer who will cover the costs.
We could put in a lifetime maximum on out-of-pocket costs so seniors don’t go bankrupt from paying five percent per year.
If we put in these very high deductibles, the medical market will suddenly be a lot more competitive. Medicare would be there for those who are uninsurable or have catastrophic expenses.
Of course, Medicare is unconstitutional in the first place, but if we got rid of it tomorrow, we’d have these hard-luck stories of people who save their whole lives and then went into bankruptcy because of a hip replacement. It would not be a viable move.
I would suggest proposing the high-deductible approach and letting the Democrats argue why we need to bankrupt the country so wealthy seniors can get medical coverage from the first dollar of costs.
Everyone thinks that their 401Ks and their IRAs are beyond the reach of the goobermint thieves.
Congress can do ANYTHING they want to with that "protected" money...
This is not all by incompetence. Quite to the contrary, it is by design a plan to fool the incompetent in to being subjugated without firing a shot.
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