Posted on 02/11/2022 1:09:27 PM PST by Red Badger
Tesla and SpaceX CEO Elon Musk is issuing a dire warning about the record U.S. national debt, which has surpassed $30 trillion.
"True national debt, including unfunded entitlements, is at least $60 trillion – roughly three times the size of the entire US economy. Something has got to give," Musk tweeted Thursday night in response to a Babylon Bee article titled, "Biden Goes Double Or Nothing On National Debt By Placing $30 Trillion On The Bengals."
There is reportedly about $93 trillion of unfunded liabilities over 75 years. Unfunded liabilities are defined as promised benefits to individuals through entitlement programs such as Social Security and Medicare.
The $93 trillion figure is in addition to the rising national debt.
Biden wants to eliminate the concept of national debt and just print as much money as he wants.
One, something’s got to give
Two, something’s got to give
Three, something’s got to give now
Let the bodies hit the floor
Let the bodies hit the floor
Let the bodies hit the floor
— Drowning Pool “Bodies”
Hitler's first economics guy (Gottfried Feder) basically had that idea when the Nazis were more explicitly socialist. Feder was opposed to Interest (a Jewish plot, you know ...). Feder wanted the German government to print money and not "borrow" money. If you "borrow" it, you have to pay back more money than you had in the first place. So, skip the borrowing. Just print it. I think Biden is being given this as 21st century advice.
How much have the Fed bankers stolen from us over the years? How about an audit?
Bubbles, bubbles, and more bubbles....
Elon is right tho, as many of us know.
The national debt is unsustainable.
And something will give.
Buckle up cause it is not a matter of if, its a matter of when.
my thought was the beastie boys song
My dear mother, who raised 6 productive, law-abiding Americans, worked about 10 years after the last of us were in our teens
I estimate she paid in about $5000-$8000 into Social Security.
She died at the age of 94 just a few years ago. I estimate she must have rec’d $200,000+ from the same system.
Granted, my father also paid in, as have we - her children.
But I can’t see how such a system is sustainable
Yup! You and I our children and grandchildren.
Yep and it actually worked....
30 Trillion and something’s gotta give?
Wow, you think so?
The Oracle of Africa speaks. Again.
Hence the need for illegals since the white folk ain’t reproducing.
I thought those mobs of street punks were wrong for shoplifting and stealing. Maybe they're the smart ones, because you and I and our children and grandchildren will suffer by paying inflated prices and taxes. If the Democrat politicians are stealing from us, why should we pay for it, we should just steal also.
Bet it all on the Bengels.
The social security your mother paid went to pay the seniors who were drawing social security entitlements in that time frame she was in of working and paying. It was not going into a personal account maintained for her future benefit when she became elegible for ss benefits and started receiving benefits.
The benefit dollars your mother and other ss beneficaries received did/does not come from the dollars they paid in while working. The benefits I am currently receiving from SS at age 89 are coming from the currently employed folks, like you, working and having the social security tax withdrawn from their earnings and sent to DC by their employer. You got that... my and other folks SS benefits I am currently receiving monthly are coming from the ss contributions that you and other wage earners are making currently.
This should be taught to high school seniors on their way to the work force along with other meaningful subjects such as what a FELONY is.
I am an LSU grad, class of 1959 and was on the football team.
Joe Burrows is the best thing that ever has happened to LSU football, and to LSU overall.
I have placed a $100 bet on Joe B and the Bengals.
The illegals around here, mainly Mexicans, mostly work for CASH, not taxable employable earnings. Hope the newly inported young dudes will find taxable employment to pay for my SS benefits, but doubt it.
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