Unfunded Liabilities - The Nightmare of Americas Debt Part 1

[michiganmoon]

I completely agree that the debt is out of control and we need to revamp programs like social security. However, when we throw around terms like unfunded promises it skews the numbers. Because, it counts my social security retirement as unfunded, but I won't retire for decades - I am in my young 30's. So much of this money isn't due for decades and the gov. will continue to collect social security taxes for the rest of my working life on that.

[sdfkjllshadflhadfshl]

Unfunded liabilities should simply be called 'Unbroken Promises', I think that describes Medicare and SS much better.

[kahunabear]

You get it, not many do. I guess everyone will eventually.

[sdfkjllshadflhadfshl]

@kahunabear I disagree.... No one will get anything lol thats the problem.

[sdfkjllshadflhadfshl]

@kahunabear I disagree.... No one will get anything lol thats the problem.

[kahunabear]

@sdfkjllshadflhadfshl you got that right.

[Yakko77]

Medicare only ended up costing roughly x10 more than it was projected to cost. I wonder what Obamacare's actual costs will be. The Admin. kept throwing the number $1 trillion around over 10 years. Pft. We'll be lucky if it costs $1 trillion each year when private business can't afford healthcare and throw everyone on Obamacare. I'm hopeful the Tea Party movement in this country can restore some sanity to Congress in the upcoming elections but we'll have to wait and see.

[Iambusy3]

Good points, but after Thursday's sale of municipal bonds by Goldman Sachs for the City of Detroit, I'm starting to believe that maybe the can be kicked down the road indefinitely.

There is no intrinsic reason for anyone to buy a Detroit bond, yet the debt money keeps pouring in for these corrupt, incompetent state and local governments.

[Pogsel]

Something big is looming on the horizon. The press is of the same faith, same mind set of the progressives. Government is their god and the nobility of man their hope. The unrenewed heart of man is struggling for the mastery.

[larnem]

Main Street media is part of the problem. They don't ask the tough questions any more. It is a big coverup. Just wait till we are all on the bread lines and we hear how much money Goldman Sachs made off of the downfall of the USA.

[buyred]

I agree 100%.

[RenegadeTimes]

@larnem ~Wait ..? Goldman Sachs already picked the American's bones clean ~as well as AIG and the rest of these predators.

I'm sure they used the money wisely ~their retirement property in Paraguay is quite nice..

[Hendo1974]

5 stars, keep them coming, I heard of $100 Trillion in total! Impossible to pay!