Posted on 01/06/2013 1:26:02 PM PST by Libloather
Wanna scare somebody about America's debt on the eve of the Fiscal Cliff? I mean, really scare somebody? Here's a trick. Don't talk about the debt. Talk about "unfunded liabilities."
The U.S. national debt comes out to about $16 trillion today. That's something. But it's nothing compared to the extra $87 trillion in unfunded liabilities to Social Security, Medicare, and federal pensions. Here's how that works. If you add up all of the U.S. government's promises to pay retirement and health care benefits for the next 75 years and subtract the projected tax revenue dedicated to those programs over the next 75 years, there is a gap. A $87 trillion gap -- in addition to a $16 billion hole.
"Why haven't Americans heard about the titanic $86.8 trillion liability from these programs?" Chris Box and Bill Archer ask in the Wall Street Journal. The authors blame the U.S. government for using shoddy accounting and for misleading the American public on their finances. In fact, the most misleading thing about that $87 trillion is the way the figure is often used in the media.
(Excerpt) Read more at theatlantic.com ...
Check it out, how much is invested in each carrier group? That's an asset. We have most of the world's carrier groups, and everybody knows they can be taken out by nukes BUT most of the nations we encounter in an adversarial roll don't have nukes.
We have other forces buried in the ground to deal with the other nuclear powers. At some point we will have incredible robotic machines that will deal sternly with all enemies and while we sleep soundly in our homes they will exterminate nations who threaten us.
It’s $222 Trillion:
“He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance.”- John Hancock ,Declaration of Independence.
The recent insanity (and, by some, serious consideration) of the ‘Trillion Dollar Coin’ is proof positive that a good number of people will believe anything, no matter how absurd.
No legislative body may be bound by a previous legislative body, We have ZERO DEBT and ZERO OBLIGATIONS, it can be changed at the whim of Congress, they just keep going along with the same scam every year.
Filthy Communist parasites!
Why do liberals always say that Iraq and Afghanistan are unfunded? We paid for those already haven’t we?
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