Posted on 10/24/2006 12:04:18 PM PDT by Sub-Driver
. [U.S. Census; Kaiser Family Foundation]= lying rat scumbags.
"..And by the way, the sky is actually green even though the evil George Bush insists it isn't...."
They probably included the SS surpluses in, and didn't calculate the SS payout..
You're so smart!!
The senate voted 56-42 to raise the minimum wage, with the democrats voting NO.
The median income drops as the unemployment rate moves downward, because new people moving into the job market make less money. Once the market stabilizes, median income then goes back up.
What you need to measure to be honest is the income of the MEDIAN person from 2000, rather than allowing the median to move.
In other words, a lot more people are above the median now than they were when unemployment was over 6%.
They NEVER existed. Not once, Never.
LOL. No comment.
I had "projected" I would win the $200 million+ last year, too, so I've suffered a $200 million loss, too, in that case....
Does the left even know HOW to tell the truth anymore? More Americans own stock that at any time in this nation's history.
And the Detroit Lions "projected" they would be in the Super Bowl this year.
Didn't Blowjob say that we would see deficits for the "unforseeable future" when he took office?
"No the claim on Median Income is just another Democrat lie.
Figure for 2005: $46,326
Figure for 2003: $43,318"
IF JOHNNY TELLS YOU CHRISTMAS IS TOMORROW... YOU HAD BETTER HANG UP YOUR STOCKING TONIGHT!!!
LLS
Every time elite libs holler about the stock market only benefiting rich Republicans, they probably cause a great number of Dems, of whom I know many, who have tons of money invested in the market to scratch their puzzled heads. Millions of Dems have become wealthy with great help from the market. I know two in my own family. And lets check the financial backgrounds of the class warfare mongers. I'll bet the great majority of them have money in the market. Dems shoot themselves in the foot on this issue.
And they think this will enhance their credibility how?
BS Repellant:
Private Sector, Public Sector – One America ~ Dick McDonald
If there ever was a need for fiscal understanding, it is now. Over 60% of Americans have bought into the notion that the economy is headed in the wrong direction; that Republicans and the Administration are incompetent. This notion is fed by late night talk show comics, academe, Democrat politicians, most newspapers and the electronic media. It got me to thinking are we really that bad off.
As an old accountant, I go to the source of all sources; the Constitution of the United States. The Preamble states:
We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.
I immediately go to the phrases “We the people” and discern that the private and public sectors of America are one. They are not two separate entities. The next phrase that instructs me is “promote the general welfare”. To me that means has the public and private sectors done a good job. And I come to a startling conclusion. “We the people” are doing such a fantastic job it is almost indescribable.
Accountants have this penchant for asking what assets do you own and what liabilities do you owe. When we subtract the second from the first we announce the result as the “net worth”. Therefore this morning I woke trying to determine what America’s net worth is; not that of the private sector or the public sector but the combination of both.
I first thought of the Federal Reserve’s estimate of the net worth of American Households and Non-Profits. In September, their report said that their combined net worth was $52 Trillion. There was only one problem. The $52 Trillion had been reduced by $10 Trillion of “consumer debt”. I thought to whom was that debt owed and realized that it was basically owed to Americans, not to foreign entities. Therefore on the Great American Balance Sheet (GABS) the $10 Trillion was both an asset and a liability; meaning they are a wash and mean nothing to America’s net worth.
Then I thought of the great concern of 2007 when President Bush wants to reform entitlements. In some estimates the unfunded entitlement liabilities will mushroom to $65 Trillion in the not too distant future. Then I realized that the entitlements are being paid to Americans not some foreign entity or group. If Americans have to pay for these entitlements and are entitled to receive these entitlements then the assets (amounts to be received) completely offset the liabilities (amounts to be paid) and there is no effect on America’s net worth.
I then thought about America’s “national debt” which stood at $8.5 trillion on 10/19/06. Of that amount $3.7 Trillion is “intragovermental debt”. Intragovernmental debt is nothing more than the debt one agency of the American government owes another agency of the American government. Therefore, the receivable of one agency completely offsets the payable of the other agency and has no effect on the GABS.
I turned my thoughts to the $4.8 Trillion of “external debt” remaining and asked the question how much of that debt is owed Americans. It turns out that $2.6 Trillion of that amount is owed to Americans so in the GABS we find that our sole liability is $2.2 trillion owed to Japan (31%), China (12%) and other foreigners. Let’s repeat that: American liabilities total only $2.2 Trillion not some fiction passed off as fact simply because politicians don’t have a clue how to run the public sector.
So the question I then asked is what are American assets worth. We know that the Household and Non-Profit analysis values those assets at $62 Trillion. That leaves the question of what is the value of all other assets in America. What is the worth of America’s military. What is its replacement cost? If any country could pay for it, what would it bring on the open market? What is the value of the infrastructure of America; the airports, the roads, the bridges, the parks, the ports, the government? What is the value of American business and know how? What are the costs to replace them? The real answer is they are irreplaceable but in terms of replacement costs, the costs would run to hundreds of trillions.
However, to be brutally conservative let’s just say that all things included American assets are worth only $120 Trillion. Now how much of those assets are owned by foreigners? Current account analysis says at least $6 Trillion. However, America is owed that much and more by foreigners and their countries so that is at a minimum a wash.
So how are we doing so far? The great concern of Americans seems tragically overblown by our own myopia, media ignorance (or device) and an academe more interested in teaching feelings than facts.
In conclusion, it appears we have an asset to debt ratio of 120 to 2 (60 to 1). As financial measurements go, that is spectacular. Every American should be proud. However, heading into the election of 2006 we can now conclude we have the least informed citizenry on the planet. I hope it stays that way. It starts our engine every morning and since it works, why fix it? On the other hand my dear reader; I hope you don’t fall for the negative nonsense trumpeted as fact and vote to retain the adults now running the country. http://www.dickmcdonald.blogspot.com
That is a great video. If anyone reading this post did not click on WHY VOTE REPUBLICAN,(post 38) do yourself a favor and watch the video clip. Funny,truthful and well done. I copied it and sent to many.....
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.