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To: Pelham
And yes, we have over 100 Trillion in unfunded mandates, from Social Security, to Medicare, to pensions, to welfare."

It’s your claim, you get to provide the evidence to back it up.

$205 Trillion in Unfunded Liabilities

There are various estimates on the exact number, but sure.

And don't forget about this:

I absolutely agree that Bretton Woods contributed to the 70's oil crisis, because oil was (and is) sold in dollars. But it is also fact that OPEC retaliated against the west for support of Israel.

127 posted on 01/15/2015 2:32:26 AM PST by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: SkyPilot

Those graphs don’t provide useful information without including the size of the GDP and the government’s percentage of the GDP.

It’s easy to make the sheer size of the debt look scary when compared to the past. It won’t look as frightening when the debt is compared to the size of the GDP. The ratio is more important than the quantity.


195 posted on 01/15/2015 10:02:43 AM PST by Pelham (WWIII. Islam vs the West)
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To: SkyPilot
$200 Trill...... Uh, could you back that up about $100 Trillion? I think we could maybe handle that.... At some point later in the century, after someone tows home a solid-gold asteroid or something.

The largest number I'd heard so far was around $100-110 Trillion, much of it Credit Default Swaps.

When a swap derivative based on Lehman Bros. crossed the market at 20 cents on the dollar, is when AIG trading stopped and every major money-center and investment bank in the world went broke. Thereafter, they were fiercely pumped up with fiat money and declared solvent by, again, fiat.

That's my understanding of it, anyway. But what do I know?

205 posted on 01/15/2015 12:24:40 PM PST by lentulusgracchus ("If America was a house, the Left would root for the termites." - Greg Gutfeld)
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