Posted on 04/14/2005 1:46:32 PM PDT by babylontoday
By GAO (Government Accounting Office) estimates the "prescription drug benefit" program INCREASED BY 26% IN 2004, all historically accumulated, future spending obligations and committments of the U.S., including SS, Medicare, vet benefits, etc., accumulated throughout U.S. history, since before Roosvelt.
http://www.babylontoday.com/#gao_financial
The prescription drug benefit is the 8.1 trillion dollar portion, of the 13 trillion dollar increase, to a total 43 trillion, of current U.S. future spending obligation. But don't worry, according to the GAO, that only represents a $350,000 obligation per full-time worker in the U.S., SO FAR!
But sadly the following demonstrates that the spending will be much greater than that.
http://www.babylontoday.com/#cbo_drug
This according to the GAO Financial Statement 2004 GAAP (Generally Accepted Accounting Practices) "Fiscal Year 2004 Government Financial Statement". Here is a link with a graph of the CBO's own figures (which, if you don't think they do everything they can to be low, you have a screw loose) for the first 10 years of the prescription drug benefit using Excel Trend Projection to project the numbers forward conservatively into the future.
http://www.babylontoday.com/#cbo_drug
Do you really believe that this is the kind of spending we need in light of our exponentially mounting national debt?
http://www.babylontoday.com/#debt_chart
How long before our generous international creditors (kindness of strangers) decide that they are going to have to be paid higher interest rates in order to be convinced that they should risk extending us credit considering the obvious risk of U.S. default? What would this do to adjustable rate mortgages?
The following Treasury link
http://www.publicdebt.treas.gov/opd/opdpdodt.htm
demonstrates that foreigners are presently holding 3 trill 185 bill of the current 7 trill 800 bill of our outstanding debt. Today the U.S. requires 1.5 billion dollars worth of foreign capital every single working day, to finance our enormous deficits. When will foreigners get worn out by the spendthrift habits of our politicians and the increasingly obvious inability of the U.S. to ever pay back the loans? When will they tire of being hosed by holding U.S. dollar denominated assets in a rapidly collapsing dollar?
http://tfc-charts.w2d.com/chart/US/M
Look at the chart of U.S. income compared to debt. It is obvious that we cannot service exponential debt with linear income. What if this applied to YOUR household? I'll tell you what. You would be scrambling to take out home, so-called "equity", loans in the fast lane.
http://www.babylontoday.com/#debt_to_income
You have a fear of the facts as I demonstrated, and you confirmed, through your own GREED. Please visit the links detailed in the post above, and I would LOVE to be proven wrong. I want nothing more. As I am sure Excel software would love to correct their trend software. Meanwhile your ignorance and lack of willingness to accept common sense will condemn you to a future of what you have already obviously suffered. I feel sorry for you.
An excellent point, but frankly I don't think the Big Government Republican Party has the balls to fight for taxpayers. They're now too busy getting fat off taxpayers.
Sad but true. But historically, Republicans are responsible for passing the most socialist legislation simply because the democrats wanted to, but couldn't have gotten away with it.
What the f*** does Nasdaq returns show anything? Stock markets go up and down, with or without terrorism. 9/11 only caused a temporary blip in the stock market. Write down a model and back up with data what you are trying to show, which I am still not sure of.
Of course not. The Republicans want to generate some Laffer curve effects to pay for their big govt spending. They don't want to cut govt, they want to trim it here and there to make it a little more efficient but without eliminating the scope of the govt. There is only one political party in this country - the pro govt party. It is in no one's interest to cut the size and scope of the govt.
I must have struck a nerve. And yes as I indicated the chart of the Nas does not even recognize Bin Ladin. The market is the product of social mood. The difference according to the reasoned approach by Robert Prechter is "The Financial/Economic Dichotomy' on the Stark difference between the Law of Supply and Demand, which causes equilibrium in prices for utilitarian goods and services, and the Law of Patterned Herding, which causes dynamism in prices for financial instruments. In economics higher prices deter buying, in finance, higher prices seem to attract buying." So the Nasdaq indicates social mood. It improved after 9-11 because folks could attach a reason to their already felt misery.
Further, the links to my home page merely project trends that have been in place for decades, into the future. If you believe that these trends could not continue at present rates, I would agree, and sadly, that will be our undoing.
I must have struck a nerve. And yes as I indicated the chart of the Nas does not even recognize Bin Ladin. The market is the product of social mood. The difference according to the reasoned approach by Robert Prechter is "The Financial/Economic Dichotomy' on the Stark difference between the Law of Supply and Demand, which causes equilibrium in prices for utilitarian goods and services, and the Law of Patterned Herding, which causes dynamism in prices for financial instruments. In economics higher prices deter buying, in finance, higher prices seem to attract buying." So the Nasdaq indicates social mood. It improved after 9-11 because folks could attach a reason to their already felt misery.
Further, the links to my home page merely project trends that have been in place for decades, into the future. If you believe that these trends could not continue at present rates, I would agree, and sadly, that will be our undoing.
In what ways are you disagreeing with me?
"I have no time for stupidity."
This was your response to the facts I presented. And mass social mood has absolutely nothing do do with Bin Ladin, as the work "Exraordinary Popular Delusions and the madness of Crowds", written in 1852 will attest. There is nothing new under the sun. Full text of book here:
http://www.bibliomania.com/2/1/73/2451/28545/1/frameset.html
And Free Reep would have labeled Paul Revere Vane and self-promoting.
I didn't call your post anything except misspelled. Hello?
*snort*... Well, ONE of us is a nitwit, but I jest don't think it's me or the mod....
History. Every government program ever inacted ends up costing many many many times more than projected when inacted.
Take medicare/medicaid for example. Original projections for the yearly cost of the program were around $20 billion. Today it is many times that.
Everyone would benefit from a pro-liberty society.
Everyone but career politicians and those who would rather live off of govt patronage - and that is about 70% of our society.
The reason I use my website to demonstrate the CBO projections in graph form is because I cannot find any others.
http://www.babylontoday.com/#cbo_drug
Nor can I find anyone who has done a projection using Microsoft Excel. Is that how you define vanity?
http://www.babylontoday.com/#prescription_drug_projection
Nor have I found anyone using snippets from the U.S. Financial Statement.
http://www.babylontoday.com/#prescription_drug_benefit
My prediction is that when the government starts paying for drugs, it will put a cap on what it will pay, like it does with Medicare. If I owned drug stock, I'd dump it.
And the reason I cite my website is because I cannot find any other site that graphed the CBO projected spending
http://www.babylontoday.com/#cbo_drug
Or used Microsoft Excel to project it forward
http://www.babylontoday.com/#prescription_drug_projection
Or took snippets of the U.S. financial statement related to it.
http://www.babylontoday.com/#debt_burden
eeekk. Sorry Hi Heels. I'm not used to forums where space is spent correcting spelling unless it changes the meaning of a word. I think you can perhaps understand how I misunderstood your post when all you wrote was "Staggering. Please?"
Again Sorry
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