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$80 Trillion In Unfunded Liabilities
The True Noose Around Our Necks
Canada Free Press, by Robert Rohlfing
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Original Article
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Posted By:LittleHoodedMonk, 12/1/2012 5:08:46 PM
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| We hear all about the $16 Trillion dollars in debt that our country is in, but the much larger problem and the one that our politicians and citizens do not want to talk about honestly is the $80 Trillion Dollars in Unfunded Liabilities at the federal level. We all know about how the states and local governments are being swamped by these obligations, but we cannot even have an honest discussion about the true nature of the long term problems that we face because for one reason or another it always turns into a Left - vs -Right you-are-wrong-and-stupid argument.
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Comments:
Something to read when you are relaxing over that one new $7 coffee from Starbucks you won´t ever afford again. This is extremely well written and points out that, more or less, we can shorten the fall off the "fiscal cliff" if we act now decisively and quit expecting to ignore for another time. The recent shocking falling US BIRTH rate in this country would wake up any economist to realize that Taxarmegedon is upon US now.
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Reply 1 - Posted by:
dcomd, 12/1/2012 5:21:13 PM (No. 9043445)
Let it all collapse; every last bit!
The Phoenix WILL rise again and this time WE will dictate the terms.
Stay locked and loaded my brethren - it´s NOT going to be peaceful.
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Reply 2 - Posted by:
bkt23, 12/1/2012 5:34:35 PM (No. 9043459)
The WSJ article talking about $80+ trillion misses the mark. The number is far larger - well over $200 trillion - because there are federal, state and municipal pensions, Veterans´ Affairs and other programs that must carry those eligible for them (everyone 18 years old and older in the work force) for the duration of their lives.
This isn´t something we can fix. The government and those running big banks and central banks have literally broken the world´s currencies. We need and we will get a reset.
In order to avoid a new Dark Ages, we must educate people why their dollars won´t work in the future and who did this to them. If we don´t, the phoenix will be one ugly, evil creature indeed.
No, this won´t be peaceful. There will be widespread violence by desperate people. Either you will fall to them or you will defend yourself against them. Prepare accordingly.
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Reply 3 - Posted by:
noddy, 12/1/2012 6:27:23 PM (No. 9043521)
Good article. Thanks OP. You´ve been posting some interesting stuff for us to read.
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Reply 4 - Posted by:
Tanker76, 12/1/2012 7:21:16 PM (No. 9043578)
Go to www.usdebtclock.org and take a look at the numbers displayed - truly shocking
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Reply 5 - Posted by:
curious1, 12/1/2012 7:38:25 PM (No. 9043593)
#4, Thanks. You folks might notice the debt interest exceeds the tax revenue.
And #2 has it right, as of a year ago when I was given the current numbers the total debt exceeded 202 trillion - that´s trillion with a "T", and was continuing to increase.
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Reply 6 - Posted by:
ROLFnader, 12/2/2012 9:16:45 AM (No. 9044245)
Those wacky Canuckians! As if 80 million,million dollars is a big deal.
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Reply 7 - Posted by:
LaVallette, 12/3/2012 6:25:04 AM (No. 9045345)
The Brave New World where the State "looks after" your well being from from conception (abortion), birth (post birth "abortion" by not feeding you) to when you get sick and start costing it money regardless of your age, but the older you are the easier it becomes for it to make the economic decision.
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Below, you will find ...
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North Korea appears to be preparing a fourth underground nuclear weapons test at Punggye-ri, the site of its previous test, a South Korean government source says. Pyongyang appeared to be making preparations for the test, according to a South Korean government source speaking to the country’s Joong Ang Daily newpaper. This comes on the heels of the South’s defence ministry reports that Pyongyang could perform a mid-range missile test-launch by Wednesday – also the deadline it has given to foreign diplomats to evacuate, as their safety would reportedly no longer be guaranteed
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Posted By: LittleHoodedMonk- 4/7/2013 9:55:59 PM
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Caracas - Hundreds of thousands of Venezuelan opposition supporters rallied in a staunchly pro-government part of the capital on Sunday, answering a call by their candidate Henrique Capriles and showing strength a week before the presidential election. "Today the streets of Caracas are full of happiness and hope, confirming what will happen next Sunday," Capriles, the 40-year-old governor of Miranda state, told the crowd. Capriles faces acting President Nicolas Maduro, who has vowed to continue the hard-line socialism of his late boss, Hugo Chavez, if he wins the April 14 election.
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Posted By: LittleHoodedMonk- 4/4/2013 10:38:11 PM
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President Obama´s biggest gaffe yesterday when speaking of California Attorney General Kamala Harris was not in flirtatiously complimenting her as "the best-looking attorney general," but in introducing an observation from the system of beauty into a forum that was about the system of power.What´s that, you say? Irin Carmon does a great job in Salon in laying out the bounds of propriety for when it´s appropriate to talk about a woman´s looks as a general matter. But I´ve long felt we lack a solid theoretical underpinning for easily discussing these issues, and why precisely it is that
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Original Article
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Posted By: Ribicon- 4/7/2013 2:43:40 PM
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Los Angeles — Some people have had it with TV. They´ve had enough of the 100-plus channel universe. They don´t like timing their lives around network show schedules. They´re tired of $100-plus monthly bills. A growing number of them have stopped paying for cable and satellite TV service, and don´t even use an antenna to get free signals over the air. (Snip) Last month, the Nielsen Co. started labeling people in this group "Zero TV" households, because they fall outside the traditional definition of a TV home. There are 5 million of these residences in the U.S., up from
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Posted By: STLstudent- 4/7/2013 5:13:55 PM
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Recent research indicates that the number of people who do not consider themselves a part of an organized religion is steadily on the rise. Interestingly enough, though the number of those religiously unaffiliated is increasing, there is little to no trend in the number of those who express atheist or agnostic beliefs. People aren’t saying they don’t believe in God. They’re saying they don’t believe in religion. They are not rejecting Christ. They are rejecting the church. This begs the question, “Why are we losing our religion?”
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Posted By: StormCnter- 4/7/2013 5:00:16 AM
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On Friday, Sean Hannity brought Pat Smith, mother of the late Sean Smith, on his radio program. The 34-year-old information management officer was one of four Americans murdered in the Benghazi embassy attack on September 11, 2012. In the chilling interview, a distraught Ms. Smith, in tears, pleaded for answers and spoke of the efforts to silence her. Ms. Smith first relayed how her son, prior to the attack, requested additional security in advance and warned the State Department: He did tell them, ahead of time, he typed it into his little typewriter over there,
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Hillary Clinton Would Not
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New Republic, by Tod Lindberg
Original Article
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Posted By: StormCnter- 4/6/2013 5:22:36 AM
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No one is more preoccupied these days with Hillary Clinton´s 2016 plans than the Beltway political class—not even the former presidential candidate herself. To hear some tell it, her decision will be dispositive for all other Democrats thinking of entering the race. And pundits and reporters aren´t the only ones positing the "The Hillary Factor": No less than the House Democratic whip, Steny Hoyer, told BuzzFeed, “I don´t know that anybody would run against Hillary…. If she runs, she clears the field.” It´s an understandable conclusion, given Clinton´s stature in the Democratic Party and her 70 percent
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Obama critic apologizes for
his ´poorly chosen words´
on gay marriage
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The Hill [Washington DC], by Alexandra Jaffe
Original Article
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Posted By: JoniTx- 4/6/2013 12:18:19 PM
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Neurosurgeon Ben Carson, considered by some to be a potential Republican contender for president, apologized to Johns Hopkins University for the "poorly chosen words" he used in expressing his opposition to gay marriage last month.“I am sorry for any embarrassment this has caused,” Carson said in the letter, reported in New York Magazine.(Snip) "Although I do believe marriage is between a man and a woman, there are much less offensive ways to make that point. I hope all will look at a lifetime of service over some poorly chosen words.” Carson will remain as commencement speaker at Johns Hopkins,
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Vanishing workforce
weighs on growth
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Washington Post, by Jim Tankersley
Original Article
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Posted By: Dreadnought- 4/6/2013 11:28:59 PM
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Put out an all-points bulletin: Millions of Americans have gone missing from the workforce. Every month that those would-be workers are gone raises the odds that they might never come back, dimming the prospects for future economic growth. The vanishing trend is more than a decade old, but it accelerated during the Great Recession. Throughout 2012, economists held out hope that it had stopped. But then came Friday’s jobs report, and hopes were dashed. The Labor Department reported that the U.S. labor force — everyone who has a job or is looking for one — shrank
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The Secrets of Princeton
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New York Times, by Ross Douthat
Original Article
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Posted By: Oblio- 4/7/2013 8:08:09 AM
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Susan Patton, the Princeton alumna who became famous for her letter urging Ivy League women to use their college years to find a mate, has been denounced as a traitor to feminism, to coeducation, to the university ideal. But really she’s something much more interesting: a traitor to her class. Her betrayal consists of being gauche enough to acknowledge publicly a truth that everyone who’s come up through Ivy League culture knows intuitively —
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Beyonce, Jay-Z celebrate 5th
anniversary in Havana, Cuba
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Los Angeles Times, by Nardine Saad
Original Article
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Posted By: Fiesta del sol- 4/6/2013 8:20:04 AM
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Beyonce and Jay-Z celebrated their fifth wedding anniversary in Cuba this week. The couple, who married on April 4, 2008, took in the sights of Old Havana, visited a school, dined on a rooftop terrace and strolled the fan-filled streets in their island best.(snip).The power couple declined to answer journalists´ questions about their visit to the island nation, but some outlets are reporting that the moguls are there as tourists, though that would be illegal because of the half-century embargo the U.S. has on the Communist country. However, the Miami Herald said Washington has issued special licenses for
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