I Want Everyone to Read This

[tabs]

I decided on a new Thread because I didn't want these numbers to be lost in my "When America Went Wrong" Thread. I intended that Thread to be about Fiscal Policy and not about Politics persay.

To recap in as few words as possible it was under the Johnson Administration that America entered into a "Guns and Butter" fiscal policy. That the funds Social Security took in were a seperate account, a Savings Account as it were, and that Johnson started using them in the Genral Fund and placing IOUs in the account.

Well today the the OMB says that Social Security is UNDERFUNDED by .......$15 TRILLION.....$15,000,000,000,000.00

Today the OMB says Medicare is UNDERFUNDED by...... $71 TRILLION... $71,000,000,000,000.00

Thats $86,000,000,000,000.00..... $86 TRILLION in UNFUNDED Obligations that the US Government has towards its citizens in the coming decades.

As a point of comparison this years Budget is slated at $2.9 Trillion or.....$2,900,000,000,000.00


That is what your Government has done for U.

BTW: My source for these figures is Robert Porter head of the Office of Management & Budget...

[adrian jaye]

I love you tabs your my hero

[slakjaw]

I read it TABS.

[Andras Nagy]

Is this a Porsche site or a Political Ranting site?

[slakjaw]

OT is every which way but loose.

[TerryH]

Originally posted by Andras Nagy
Is this a Porsche site or a Political Ranting site?

This is Off Topic, hence any mention of Porsche does not belong here. Therefore, your post is irrelevant.... and so is this one.

[on-ramp]

so what's your point?

[hardflex]

The point is the US is 'UPSIDE DOWN'. We owe more than the country is worth.....

[David]

I went to the US treasury site and got the data to update my national debt graph. Here's the latest:

[Jeff Higgins]

I would be happy to have just a very small percentage of that.

[RallyJon]

No matter how many zeros you put down as an "obligation," it doesn't change the reality that there will likely only be enough money to pay out a small fraction of that. And when that happens? When the retirement age goes up and the benefits come down? You can either fire up your motorized wheelchair and drive at 1.5mph to Washington to protest, or you can enjoy the comfortable life YOU've built for YOURSELF.

So don't wring your hands and say, "what will the country do?" Instead wring your hands and remind yourself that you'd better get prepared, assuming that you never get one dime of SS or Medicare.

The money you pay into SS and Medicare is just tax for the government to spend. Looking at it any other way is naive.

[NICKG]

Originally posted by hardflex
The point is the US is 'UPSIDE DOWN'. We owe more than the country is worth.....

damn! how are the muslims gonna get good trade in for us then? no bank will want to finance them

[Porsche-O-Phile]

It's okay. Just resort to the typical neocon tactic of screaming loudly and wailing about how much we love our children and how we need to do everything that's in the best interest of the next generation.

Then send them the bill. It's their problem.

[artplumber]

Urrr I thought Medicare and Social Security were Democratic Party creations? The "NEW DEAL"? You know tax the current workers for the current beneficiaries and hope that the number of workers exceed the number of beneficiaries.

If anything, the shortsightedness was to provide medical care. That choice leads to more beneficiaries and is the reason for being upside down financially

[BGCarrera32]

Interesting that shortly after Nixon took us off the gold standard, the funny money debt just exploded upward...

[Joeaksa]

Originally posted by Andras Nagy
Is this a Porsche site or a Political Ranting site?

What this is, is an "eye opener" and those of you who did not know this are doomed, as are the rest of us, to pay out the nose for what our Govt has done to us in the last 40 years.

This has to stop and be turned around but the people in power the last two admin's do not have a clue.

[Joeaksa]

Originally posted by Porsche-O-Phile
It's okay. Just resort to the typical neocon tactic of screaming loudly and wailing about how much we love our children and how we need to do everything that's in the best interest of the next generation.

Then send them the bill. It's their problem.

You need to open your eyes wake up. If you live in America, its YOUR problem.

BTW, this was started by the Democrats, not conservatives. You can point fingers all you want to or you can buckle under and fix this problem. Getting rid of every one of our elected officials and instituting a term limit is a good start.

[hatpix]

You guys are actually counting on getting something back from the government? Money & healthcare when you retire? Give it up, the money is gone, taxing everyone now will not replace the money, you will always be upside down. Plan now, fend for yourselves, there's no deus ex machina coming.

[CRH911S]

So is funding a war supportive of our troops or not?
Clinton

[Dottore]

One hard fact that you CAN extrapolate from those numbers is that the US dollar has nowhere to go but down.