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1 posted on 03/31/2011 6:42:27 AM PDT by dennisw
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To: dennisw

More and more people are going public with what has been obvious for a very long time.


2 posted on 03/31/2011 6:45:45 AM PDT by Timocrat (Ingnorantia non excusat)
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To: dennisw

Unfortunately, he’s grossly misunderestimating the size of the problem. Unfunded liabilities for Social Security are $18.7T, not $7.9T; the liabilities for Medicare are $59.2T, not $22.8T etc. I assume the Medicaid figures are similarly flawed. Together with state and local debts, unfunded liabilities for pensions/health and all the interest we’ll have to pay on funds borrowed to keep these entitlements going, the total tab exceeds $200T.
http://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.html

Obama’s attitude seems to be “Well, we’re bankrupt anyway, why not have a big bash before they turn the lights out?” Proposing a budget that adds many trillions more to what we owe is obscene.


4 posted on 03/31/2011 6:55:29 AM PDT by DrC
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To: AngieGal

ping


5 posted on 03/31/2011 6:57:09 AM PDT by PetroniusMaximus
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To: dennisw

I’m no fan of this camera-whore on a German payroll, but he makes his point in a compelling way.


6 posted on 03/31/2011 7:07:18 AM PDT by the invisib1e hand (You is what you am.)
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To: dennisw
Bill Gross: Without A Gigantic Reform Of Entitlements, America Will Default
7 posted on 03/31/2011 7:14:15 AM PDT by blam
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To: dennisw

Big difference here is when Greece went under, there were other countries left standing to prop them up.
If we go under, it will be every country for themselves.
The other countries of the world can’t bail us out. We are the big dog on the porch but we have heartworms.
Still amazing to watch supposed intelligent people who think that economic laws don’t apply once the scale gets big enough. None of these pinheads are spending more than they make in their personal lives, so how can it work in the trillions?


8 posted on 03/31/2011 7:20:27 AM PDT by Texas resident (Hunkered Down)
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


9 posted on 03/31/2011 8:57:50 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: TigerLikesRooster; rabscuttle385

ping


10 posted on 03/31/2011 7:23:01 PM PDT by TenthAmendmentChampion (Darwinism is to Genesis as Global Warming is to Revelations.)
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