A Message From Lucianne  







S-G1




























ST-GC


   
 
Home Page | Latest Posts | Links | Must Reads | Update Profile | RSS | Contribute | Register | Rules & FAQs
Privacy Policy | Search | Post | Contact | Logout | Forgot Password | Search Using Google


Brace For an Avalanche
of Unfunded Debt

US News and World Report, by Mortimer B. Zuckerman

Original Article

Posted By:galloglass, 12/31/2012 9:20:08 AM

All eyes have been on the clear and present danger of the fiscal cliff—understandably—but there´s a sound in the mountain range that´s even scarier than the cliff. It´s the sound made by an avalanche, the trillions of dollars of debt that´s heading our way, gathering speed and mass. For most people, it´s out of earshot now, and that´s the way our government prefers to play it in its financial statements. Liabilities are not set out there in accordance with the well-established norms of the private sector, where this overhang of liabilities would set off alarm bells in the markets, with
Link corrected by staff

Comments:
And Boehner and Reid are re-arranging deck chairs on the Titanic.

      


Post Reply  

Reply 1 - Posted by: Johnny Angle, 12/31/2012 9:32:00 AM     (No. 9091226)

And our big hero Ryan is mum too. They are all fakers. Go Tea Party!!

  Click Here if you Like this Comment

    4 persons like this.


Reply 2 - Posted by: stablemoney, 12/31/2012 9:36:37 AM     (No. 9091234)

This is the best article written explaining this fiasco. The USA issues a financial statement. The auditors will not give a clean opinion. Every citizen should receive one, just as a private company, because it tells you how the country is doing, something the politicians would like kept hidden. Type in Financial statements of the U.S. at search and take a look. The country will inflate these debts away. Every government in history has. In future, our incomes will go to pay debt and interest, there will be no income left to pay for us, so our standards of living are going to drop. The 21st century for the USA will be the first in history where standards of living fall. All brought on by living free until the bills are due.

  Click Here if you Like this Comment

    7 persons like this.


   

 

R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: lylacat, 12/31/2012 9:49:03 AM     (No. 9091254)

0bama has no understanding of economics; he just loves to spend. He is no leader, and his policies are killing this great country. The people who are getting all the "stuff" love it, and the others, well, they have to just keep working for less, and everything they buy costs more. The standard of living in this country will eventually fall for everyone, because eventually the workers will no longer be able to pay for the takers.

  Click Here if you Like this Comment

    4 persons like this.


Reply 4 - Posted by: J F Ackerman, 12/31/2012 9:51:43 AM     (No. 9091261)

Mort Zuckerman had been a huge and influential supporter of Obama and of all Democrats. He is a bona fide media mogul. He could have and should have seen this disaster coming and used his media influence to sound the alarm loud and long, publicly and privately, for these last many years. He didn´t. It´s because folks like Zuckerman simply won´t put America first (being a Democrat comes first) there can be no path forward. We are doomed.

  Click Here if you Like this Comment

    3 persons like this.


Reply 5 - Posted by: vesicant, 12/31/2012 9:59:08 AM     (No. 9091277)

This is news? Anybody with half a brain has known this for a long, long time. Buy your Weimar wheelbarrows now, because you´re going to need them.

  Click Here if you Like this Comment

    9 persons like this.


Reply 6 - Posted by: NorthernDog, 12/31/2012 10:00:44 AM     (No. 9091281)

Let´s remember how the mortgage debacle and the Enron meltdown unfolded. Few people took notice until it was way too late. A repeat is on the way, only on a more massive scale.

  Click Here if you Like this Comment

    8 persons like this.


Reply 7 - Posted by: terrywhite, 12/31/2012 10:13:41 AM     (No. 9091307)

Triple Amen # 4. I want to puke when fools like Mort Zuckerman come out now and try to tell me what´s whhat and what I need to think, feel, and do. I knew what O was when he ran in the primaries the first go around, but you and all the other elites knew better didn´t you and helped bring this Obamination to our doorstep so I really don´t need to hear or listen to a thing you have so say! I say, "eat it Mort!"

  Click Here if you Like this Comment

    6 persons like this.


   

 

  


 
Reply 8 - Posted by: Pros7767, 12/31/2012 10:16:29 AM     (No. 9091320)

This should be a Muet Read.

  Click Here if you Like this Comment

    6 persons like this.


Reply 9 - Posted by: PoliticalJunky, 12/31/2012 10:18:12 AM     (No. 9091327)

During a previous financial crisis, and within Obama´s term, the government paid upcoming expenses by using the 401K´s of federal workers.The IRS had their 401´s temporarily confiscated, which is how I know. . Of course, when the debt ceiling was raised, money came back into those 401´s. But what has happened once, can happen again. I think Obama has his eye on every 401 in the country and wants that money.

  Click Here if you Like this Comment

    5 persons like this.


Reply 10 - Posted by: bogeegolf, 12/31/2012 10:53:56 AM     (No. 9091399)

I echo an above post that says this is not news. Why do you think I´ve been so crabby for the last twenty years? Oh, and thanks Mort for voting for the biggest spender and most anti- Amercan president to ever sit in the white house.

  Click Here if you Like this Comment

    4 persons like this.


Reply 11 - Posted by: bighambone, 12/31/2012 11:51:08 AM     (No. 9091527)

Unfortunately the November election showed that there are enough people now in the country who will always vote for the politicians who they believe will give them the most in government benefits and services to ensure that the government will simply go on taxing and spending until the bitter end.

  Click Here if you Like this Comment

    6 persons like this.


Reply 12 - Posted by: 6079 Smith, W, 12/31/2012 11:58:49 AM     (No. 9091549)

Yeah, but it is our children and grandchildren who will get the bill and since they can´t vote now, let´s live for today! I do so hate politicians.

  Click Here if you Like this Comment

    4 persons like this.


   

 

B-G1


 
Reply 13 - Posted by: Sfacheem, 12/31/2012 12:23:03 PM     (No. 9091595)

If "the people" didn´t care when they were funding the debt, why would they care now that they´re not?

  Click Here if you Like this Comment

    8 persons like this.


Reply 14 - Posted by: Heil Liberals, 12/31/2012 1:47:53 PM     (No. 9091734)

We have become a nation defined by its wants rather than its needs. The Fedzilla merely reflects its citizens. By the next election in 2014, the number of citizens on the government teat will be 49%. By 2016 it will be more than 50%. That is when the joy ride to oblivion will begin. Unless we can convince the new majority that it is in their best interest to change their tune. But I doubt it.

  Click Here if you Like this Comment

    5 persons like this.


Reply 15 - Posted by: crimea river, 12/31/2012 2:32:14 PM     (No. 9091799)

Mort´s dilemma...
We can´t inflate our way out, for inflation doesn´t solve our Social Security and Medicare challenges.

No, Mort. That is exactly what "we" will do. Your Social Security check may buy a few loaves of bread and some canned tuna. Your Medicare doctor will be from Burkina Faso.


  Click Here if you Like this Comment

    8 persons like this.



Post Reply   Close thread 717221




Below, you will find ...

Most Recent Articles posted by "galloglass"

and

Most Active Articles (last 48 hours)




Most Recent Articles posted by "galloglass"



Connecticut woman nabbed
during family´s Disney vacation
for 22-year-old shoplifting warrant
New York Daily News, by Erik Ortiz    Original Article
Posted By: galloglass- 1/22/2013 3:00:41 PM     Post Reply
A Connecticut woman’s Disney Dream cruise dissolved into a nightmare when she was thrown in jail on a shoplifting warrant — from 22 years ago. Robin Hall, 41, was nabbed Thursday when the Disney cruise ship docked in Port Canaveral, Fla., at the tail end of her vacation with her husband and two children, reported NBC affiliate WESH in Orlando. There, authorities were waiting for Hall. Her youthful indiscretion caught up with her when the ship conducted a check of all passengers looking for names on a terrorism watch list. “I was pulled to the side and told I had

   

 

R_DBL_B
  


 
Brace For an Avalanche
of Unfunded Debt
US News and World Report, by Mortimer B. Zuckerman    Original Article
Posted By: galloglass- 12/31/2012 9:20:08 AM     Post Reply
All eyes have been on the clear and present danger of the fiscal cliff—understandably—but there´s a sound in the mountain range that´s even scarier than the cliff. It´s the sound made by an avalanche, the trillions of dollars of debt that´s heading our way, gathering speed and mass. For most people, it´s out of earshot now, and that´s the way our government prefers to play it in its financial statements. Liabilities are not set out there in accordance with the well-established norms of the private sector, where this overhang of liabilities would set off alarm bells in the markets, with
Link corrected by staff

Five Royal Marines are charged
with MURDER after 'video emerges
showing patrol discussing if
injured Taliban insurgent should
be given aid'
Daily Mail (UK), by Ian Drury    Original Article
Posted By: galloglass- 10/14/2012 5:07:15 PM     Post Reply
Five Royal Marines have been charged with murder over the alleged slaying of an injured Taliban fighter. Another four have been released without charge, pending further inquiries over the incident in Afghanistan in 2011. The five men charged remain in custody. The next stage of the process is likely to be trial by Court Martial. The Royal Military arrested the troops after video footage on a Marine’s laptop allegedly showed members of 3 Commando Brigade discussing what to do with a wounded gunman inside a compound in Helmand more than a year ago.



Most Active Articles (last 48 hours)



Has Rush Limbaugh Finally
Reached the End Of The Road?

43 replie(s)
Forbes Magazine, by Rick Ungar    Original Article
Posted By: EveningStar- 4/16/2014 7:24:05 PM     Post Reply
Like him or hate him, there is no disputing that Rush Limbaugh’s very special brand of mixing right-wing politics with his flare for entertainment has produced one of the most successful radio programs in the medium’s long history. Whatever the burning political question of the day, millions of Americans have relished the opportunity to tune into Rush’s program, knowing that he would quickly take that hot potato, throw a few gallons of verbal kerosene into the mix and elevate the matter into a five alarm fire with a just a few well-chosen words spoken in the style only Rush Limbaugh could

Biden Tells Boston Bombing
Survivors, ´It Was Worth It´ (Video)

41 replie(s)
Breitbart´s Instablog, by Debra Heine    Original Article
Posted By: KarenJ1- 4/15/2014 9:28:18 PM     Post Reply
Less than a minute into his speech at the Boston marathon bombing memorial on Tuesday, Vice President Joe Biden went tragically off script and told the crowd of Boston bombing survivors that "it was worth it." After expressing how impressed he was with the tribute, he said somberly, "let me say to those ´quote survivors,´ my God, you have survived and you have soared. It was worth it. I mean this sincerely - just to hear each of you speak. You´re truly, truly inspiring." The audience sat in stunned silence until Biden declared, "I´ve never heard anything so beautiful than

Casual marijuana use linked with
brain abnormalities, study finds

40 replie(s)
Fox News, by Loren Grush    Original Article
Posted By: KarenJ1- 4/15/2014 6:12:53 PM     Post Reply
Casual marijuana use may come with some not-so-casual side effects. For the first time ever, researchers at Northwestern University have analyzed the relationship between casual use of marijuana and brain changes – and found that young adults who used cannabis just once or twice a week showed significant abnormalities in two important brain structures. The study’s findings, to be published Wednesday in the Journal of Neuroscience, are similar to those of past research linking chronic, long-term marijuana use with mental illness and changes in brain development. Dr. Hans Breiter, co-senior study author, said he was inspired to look at the effects of casual

   

 



 
Which Actor Portrays The
Best James Bond?

38 replie(s)
American Spectator, by Jonah Goldberg and Taki Theodoracopulos    Original Article
Posted By: Drive- 4/16/2014 11:20:22 AM     Post Reply
Look, everyone loves Sean Connery, particularly Sean Connery. That’s why he plays Sean Connery in every movie he’s in. People love that Scottish brogue so much, they don’t mind that he has it when he plays Juan Sánchez Villa-Lobos Ramírez, an immortal Spaniard in Highlander. The guy even won an Oscar for playing an Irish cop with a Scottish accent. Talk about sexist double standards: Meryl Streep has to master foreign dialects to get her golden statuettes. Connery just has to show up on time. In economics you devalue a currency by printing too much of it. In film you

Michelle Obama Riverdances
Through Dublin to the Tune
of $7,921,638

35 replie(s)
Breitbart Big Peace, by Tom Fitton    Original Article
Posted By: JoniTx- 4/17/2014 6:45:16 AM     Post Reply
When it comes to tracking the cost of Obama family vacations, there are two primary challenges. First, the Obamas are prolific jet-setters, so there are many details to track. Second, the Obama administration, clearly embarrassed by these lavish and frequent family vacations, stonewalls the release of records at every turn. But we have been relentless in pursuit of this information. Our attorneys file the lawsuits and make our case, and our investigators pour through pages of records and crunch the numbers. And the information we’ve uncovered – information that would otherwise remain under lock and key – shows that the

White babies just 15 months old show racial
bias when picking playmates, study found

34 replie(s)
Daily Mail (U.K.), by Staff    Original Article
Posted By: Desert Fox- 4/15/2014 10:23:35 PM     Post Reply
Toddlers show racial bias when picking playmates, a study reveals. They also take account of how fairly others behave. Researchers tested the reaction of white 15-month-olds as toys were distributed. Two white adults divided the toys, one equally and the other unequally. Seventy per cent of the toddlers chose to play with the researcher who distributed the toys fairly. But in a second test, when one researcher favoured a white recipient over an Asian one, they picked the ‘fair’ researcher less often, the journal Frontiers in Psychology reports. And the babies are more likely to help those who share the same ethnicity, which is known as

Elizabeth Warren whines about coverage
of her fraudulent Indian claim

32 replie(s)
Daily Caller, by Patrick Howley    Original Article
Posted By: KarenJ1- 4/16/2014 9:54:52 PM     Post Reply
Democratic Massachusetts Sen. Elizabeth Warren wrote in her forthcoming book that she was “hurt” and “angry” by 2012 reporting on her fraudulent claim to Native American heritage. “What really threw me, though, were the constant attacks from the other side,” Warren wrote in her book “A Fighting Chance.” “I would almost persuade myself that I was starting to get the hang of full-throttle campaigning and then — bam! Out of left field, the state Republican Party, or the Brown campaign, or some blogger, would launch a rocket at me,” Warren wrote, adding, ”I was stunned by the attacks.” This reporter (blogger?) reported extensively

Atlanta Braves flooded with Hank
Aaron hate mail: He’s a ‘s*****g’

31 replie(s)
Washington Times (D.C.), by Cheryl K. Chumley    Original Article
Posted By: JoniTx- 4/15/2014 3:23:19 PM     Post Reply
Hank Aaron’s recent comments about the need for America to realize that racism is still very much alive and thriving — only now due to those who wear “neckties and starched shirts” rather than KKK hoods — has sparked an angry backlash and many fans are turning the tables, calling the baseball legend himself a racist. “Hank Aaron is a s*****g piece of [expletive] [racial slur],” one man said in an email to the Atlanta Braves’ front office, one of the teams Mr. Aaron used to play for, CBS News reported. “My old man instilled in my mind from a

White is not right: Campus admins ask
for help weeding out white people

31 replie(s)
Daily Caller, by Robby Soave    Original Article
Posted By: KarenJ1- 4/15/2014 7:47:18 PM     Post Reply
Western Washington University sent a questionnaire to students asking them for advice on how the administration could succeed at making sure that in future years, “we are not as white as we are today.” The question notes that WWU’s racial make up does not perfectly reflect the nation at large, and asks students to consider strategies that other universities have used to focus on skin color as the paramount indicator of a student-applicant’s worth. The president of WWU has stated that his explicit goal is to reduce the white population on campus, according to Campus Reform. “I’ve said before and I’ll say it

Former US president joins
opposition to Keystone XL

31 replie(s)
Houston Chronicle, by Jennifer A. Dlouhy    Original Article
Posted By: JoniTx- 4/16/2014 10:32:12 PM     Post Reply
WASHINGTON — Former President Jimmy Carter joined fellow Nobel laureates Wednesday in opposing Keystone XL, insisting that approving the pipeline would trigger “more climate upheaval” around the globe. In an open letter to President Barack Obama and Secretary of State John Kerry, Carter and the nine other Nobel Peace Prize winners bluntly warned the leaders: “Your decision on the Keystone XL tar sands pipeline will define your climate legacy.” The missive, published as an advertisement in Politico, represents the first time Carter has taken a position on the $5.4 billion project and makes him the first former president to come

Progressive Insurance
30 replie(s)
National Review Online, by Victor Davis Hanson    Original Article
Posted By: KarenJ1- 4/15/2014 10:08:10 PM     Post Reply
How do you ensure that you won’t be ostracized, denounced, or fired if you are a media celebrity, captain of industry, or high public official? For some, sexist banter is certainly no problem. Stand-up comedian Bill Maher called Sarah Palin a c–t and a tw-t, but suffered no ill consequences. David Letterman joked on air that Sarah Palin’s 14-year-old daughter had had sex with Alex Rodriguez during a New York Yankees game. There was no downside to that either. President Obama tosses around “sweetie” as he wishes. No problem with that. No one believes Barack could be condescending to women.

Why is US Senator Harry
Reid so concerned with
a local Nevada rancher?

30 replie(s)
Fox News, by Wayne Allyn Root    Original Article
Posted By: KarenJ1- 4/16/2014 9:37:12 PM     Post Reply
I live in Las Vegas. I live and breath Nevada politics. Something is very wrong. Something smells rotten in the Nevada desert. And Senator Harry Reid’s fingerprints are all over it. I am of course referring to the Bundy Ranch siege. This was a dispute between a Nevada ranching family with rights to the land in question for 140 years and the BLM (Bureayu of Land Management). The government claims they haven’t paid grazing fees for 20 years. The result was a government assault on the ranch- including snipers with assault rifles, SUV’s, helicopters, airplanes and over 200 heavily armed troops. No

   

Post Reply   Close thread 717221





Home Page | Latest Posts | Links | Must Reads | Update Profile | RSS | Contribute | Register | Rules & FAQs
Privacy Policy | Search | Post | Contact | Logout | Forgot Password | Search Using Google



© 2014 Lucianne.com Media Inc.

NQ