Posted on 10/18/2012 9:13:21 AM PDT by george76
Because of an accounting gimmick where governments pretend future liabilities don’t exist and, therefore, don’t account for them, most Americans don’t know how big the problem really is. The amount typically reported, nearly $16 trillion, is actually only the surface of our debt...
America’s total debt — when accounting for unfunded future liabilities in Medicaid, Medicare and Social Security and state and local bond debt — exceeds $130 trillion.
Take a moment for that to sink in: $130 trillion.
Today, more than 40 percent of our annual state budget comes from an obviously broke federal government, yet some opinion leaders in Oklahoma want the band to play on. Indeed, a fatalistic worldview is common among elites. “Nothing to see here, folks; full steam ahead with the status quo and everything will be fine,” they say, much like the experts who thought the Titanic was unsinkable. After all, “the federal checkbook has never shut down.”
...
So what happens when that funding is cut off? Anyone who looks at the budgets can see that happening. Anyone who says otherwise is being intellectually disingenuous...
Real leadership isn’t striking up the band while the ship is sinking; real leadership is being aware of oncoming obstacles, taking a proactive approach to confront them...
(Excerpt) Read more at okgazette.com ...
now you made an accusation you tell me what programs republicans made and how many trillions of that 132 they created. now name and detail these programs, quantifying them now. funny I remember Newt's congress balancing the budget and the Republicans never had a super majority so they cannot be blamed as that is needed as the democrat had a super majority to turn 1/5 of the economy over to the government (obamacare).
In the decades leading up to obama's election, the Republicans were also guilty. To a degree, everyone who has ever gone to congress has sold us out, either actively voting for spending which has taken us to the edge of oblivion, or by not screaming to high heaven to get it stopped.
If he or she had to, he or she should have gone so far as to immolated him- or herself in the well of the senate to draw attention to the problem, hyperbolically speaking, of course.
The Death Panels will fix a LOT of this. Cut 10 yrs off the life expectancy and the Medicare and SS numbers improve dramatically.
It’s the unspoken “fix” no politician will dare discuss.
P.S. And he's very nice looking too.
It's not part of their template.
My disgust grows daily..for the MSM.
In fact...I think the MSM is THE most dangerous entity to the U.S.A. and it's citizens.
You can certainly make that argument about the 16.2 trillion we already owe as acknowledged debt. I don't think you can make that argument about the (alleged) 130 trillion we will need to pay going forward for Medicare, Medicaid, Social Security, pensions for government workers, etc., and for which we have made no provision whatsoever, and for which we will have nothing to show after we pay it (assuming we can pay it, which we can't).
I think you can. The money in the trust funds was loaned to the Federal government which spent it on a variety of stuff. It’s impossible to separate what was wasted, and what was invested in infrastructure.
Either way, it’s not a debt that’s impossible to pay down. But the key is getting our economy going full blast again, and to do that we need to raise import tariffs and put our own people back to work.
Obama’s claim that he only wants high paying jobs is stupid when 25% are unemployed. Plus the high paying jobs tend to follow the low paying jobs. When we all have high paying jobs, we can re-outsource the low paying ones.
The sad thing is, once the printing presses stop, we are all going to be in deep trouble.
Our economy has been a game of lets pretend for decades.
It wasn’t just the democrats. W spent like a drunken sailor. I never understood why liberals hated him so much. He spent more than Clinton. And before you defend him by saying he had a war to fight, he could have cut in other areas. He had a republican congress.
So, they’re all guilty.
Democrats created medicare and social security : the unfunded liabilities for these 2 government programs is 132 trillion $ .Yes I know you and liberals and the media say “Bush's fault” when democrats created these 2 programs and now Romney wants to privatize medicare.
Ball in your court now . you detail how much each program That Republicans created cost. I know I know medicare part d you will scream but that is ALL you have that has any spending at all and it is a small % of medicare. Yeah Bush's fault. Bush didn't have anything to do with medicare or ssi, welfare , medicaid and thousands of other programs created by democrats and you know full well Bush couldn't wave his hand and stop funding for medicare etc.
Say whaaaaaat? I think you posted to the wrong person.
No, you know what you said(scroll) up and back it up . You parroted the liberal media lie that “Bush and Republicans spent like drunken sailors” so detail the NEW government programs Republicans created and the percentage of budget etc.
Republicans never had a super majority in congress so how can you blame them.
Democrats created medicare and social security : the unfunded liabilities for these 2 government programs is 132 trillion $ .Yes I know you and liberals and the media say “Bush’s fault” when democrats created these 2 programs and now Romney wants to privatize medicare.
Ball in your court now . you detail how much each program That Republicans created cost. I know I know medicare part d you will scream but that is ALL you have that has any spending at all and it is a small % of medicare. Yeah Bush’s fault. Bush didn’t have anything to do with medicare or ssi, welfare , medicaid and thousands of other programs created by democrats and you know full well Bush couldn’t wave his hand and stop funding for medicare etc.
I’ll stand by the statement “Bush spent like a drunken sailor.” It’s a fact. He let the democrats have anything they wanted. No republican super majority? Neither did the democrats. So, how ‘bout a veto every now and then George? Maybe he couldn’t spell the word.
name the programs and % of budget that Bush or Republicans created.Medicare? NO social security ? NO those are democrat created programs and you know full well Bush had NO POWER at all to defund those programs. Are you blaming Bush for those and other democrat programs?You think Bush can just come into power in defund thousands of pages of laws, and hundreds of thousands of pages of government regulations that democrats created in 100 years? Yes you buy the liberal media spin they created to take away the big government and big spending advantage Republicans had in the public eye. Yes you and many others buy that and that’s why the media got Obama and a super majority democrat congress elected and so again we have 13,000 new pages of government regulations from Obamacare as a result imposed on us of Which NOT A SINGLE REPUBLICAN voted for Obamacare. tell what I say that is not true.
name the programs and % of budget that Bush or Republicans created.Medicare? NO social security ? NO those are democrat created programs and you know full well Bush had NO POWER at all to defund those programs. Are you blaming Bush for those and other democrat programs?You think Bush can just come into power wave his hand and repeal or defund thousands of pages of laws(that mandate spending like for social security), and repeal hundreds of thousands of pages of government regulations that democrats created in 100 years? Yes you buy the liberal media spin they created to take away the big government and big spending advantage Republicans had in the public eye. Yes you and many others buy that and that’s why the media got Obama and a super majority democrat congress elected and so again we have 13,000 new pages of government regulations from Obamacare as a result imposed on us of Which NOT A SINGLE REPUBLICAN voted for Obamacare. tell what I say that is not true.
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