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KEY POINT:

We most often hear about the alarming $15.96 trillion national debt (more than 100% of GDP), and the 2012 budget deficit of $1.1 trillion (6.97% of GDP). As dangerous as those numbers are, they do not begin to tell the story of the federal government's true liabilities.

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.

TO MAKE A LONG STORY SHORT --- WE'RE ACTUALLY BANKRUPT. WE JUST WON'T FACE THE FACT.

1 posted on 11/27/2012 7:09:06 AM PST by SeekAndFind
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To: SeekAndFind

Bring back US jobs to America.

Now.


2 posted on 11/27/2012 7:11:03 AM PST by Cringing Negativism Network
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To: SeekAndFind

3 posted on 11/27/2012 7:11:27 AM PST by KeyLargo
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To: SeekAndFind

It is truly a shame that the Republicans had all three branches of government and did not address these problems. I know that President Bush did address Social Secuirty reform but I don’t believe that was during the time we had all three part of government. Plus Bush backed off because a few democrats said “boo”.


5 posted on 11/27/2012 7:14:59 AM PST by napscoordinator (GOP Candidate 2020 - "Bloomberg 2020 - We vote for whatever crap the GOP puts in front of us.")
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To: SeekAndFind

Federal Financial Stewardship File.


7 posted on 11/27/2012 7:19:24 AM PST by Graewoulf ((Traitor John Roberts' Obama"care" violates Sherman Anti-Trust Law, AND the U.S. Constitution.))
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To: SeekAndFind

Don’t you understand? Big numbers just confuse the Stoooopid American voter. Recently, custody of an Argentinian warship was transferred to a debtor when it came into a foreign port. That happening to us would suit the Dems just fine as long as “entitlement” payments went out as usual.


14 posted on 11/27/2012 7:40:41 AM PST by Pecos (Double tap: the only acceptable gun control)
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To: SeekAndFind

15 posted on 11/27/2012 7:40:41 AM PST by Zakeet (Calling the Obozo/Bernack economy sluggish is an insult to slugs)
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To: SeekAndFind
I've posted Richard Fisher's 2008 speech (president of the Dallas Fed) called “Storms on the Horizon”. In 2008, before the mass increase of disability recipients, there was a $98 trillion shortfall in funding for SS, Medicare, and Medicaid. The numbers quoted here are significantly under estimated
18 posted on 11/27/2012 7:55:47 AM PST by uncommonsense (Conservatives believe what they see; Liberals see what they believe.)
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To: SeekAndFind

The “key point” is that there is no point in We the People are expecting DC to do anything about this mess...

The bigger the mess...the more power DC accrues....


22 posted on 11/27/2012 8:05:08 AM PST by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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To: SeekAndFind

SS and Medicare are not contractual debts.

They are political promises.

Made by a couple of generations of politicians who ignored the Enumerated Powers, stole the money, and spent it on their own political self-aggrandizement. Every red cent.


48 posted on 11/27/2012 4:35:51 PM PST by EternalVigilance (America's creed: Our rights come from God, not men. Governments exist to secure those rights.)
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To: SeekAndFind
Are you using an actuarily sound figure or is that a number derived from doing present value analysis?

You do know PV works well only to compare and contrast the outcomes from two different proposals ~ e.g. to build a new building or to fix the old one.

It ties in well with the math used to determine a Return on investment (ROI).

However, the numbers themselves are a fiction.

That dollar on deposit at Barclays really won't be worth $6 trillion in 5,000 years when you pop out of your time machine ~ failure to 'churn' (there are lots of names for it) is usually punishable through termination of your account.

64 posted on 11/28/2012 11:19:05 AM PST by muawiyah
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