Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: LS

Ah but that’s the smallest part of our problem Our unfunded liabilities are 5X the debt.


39 posted on 10/07/2012 10:06:33 AM PDT by DManA
[ Post Reply | Private Reply | To 38 | View Replies ]


To: DManA
Of course, unfunded liabilities like SS, Medicare/Medicaid are the biggie. Boomers now 55+ will eventually pass through the system. Means testing will become a necessity and though unfair will be accepted by the likes of myself and others.

Multifaceted solutions come into play, but I'm feeling very fortunate we have a problem solver like Mitt at this time in the country's history. It's becoming starkly clear; Obie is not the One. He is the last thing we need. The very last.

41 posted on 10/07/2012 10:37:06 AM PDT by chiller (First check the poll's Dem/Rep/Ind sampling numbers, then re-think.)
[ Post Reply | Private Reply | To 39 | View Replies ]

To: DManA
Yep. But there are always "unfunded liabilities"---often, we just don't know about them. Like, the Louisiana Purchase added millions to our "assets" but in the short term added millions more to the "unfunded liabilities" of forts that had to be built, roads that had to be built, and so on. Not exactly the same as the welfare state, but nevertheless, one of the things no one is talking about is that we are NOT assessing our national assets correctly.

For ex, gubment is the largest land holder in the U.S. That land is valued at pretty much what the gubment paid for it, or worth nothing at all because gubment just took it. What's it's REAL value? Hundreds of billions of dollars on the open market. Well, our early gubment paid its debts down by . . . selling lots of land!

Likewise---and only to make the point---the gold at Ft. Knox and in Fed Reserve vaults is valued at whatever the gubment paid for it, not what it could be sold for on the open market. A fair assessment of American asset wealth in a freer market would radically upset the ratios of debt to GDP. Not saying we don't have to get medieval on the debt and on all unfunded obligations, but I am saying we need to also have a firmer grasp of the REAL assets of the U.S. and begin using them.

46 posted on 10/07/2012 4:26:52 PM PDT by LS ("Castles Made of Sand, Fall in the Sea . . . Eventually (Hendrix))
[ Post Reply | Private Reply | To 39 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson