3 comments do not constitute a public opinion BUT these comments go to say AP does not carry any credibility any more. Come on give us more loads of crap!
Revenue, you must address revenue, you can't state arbitrarily that bankruptcy is inevitable, with out mentioning revenue. Bankruptcy is only emminent when then revenue matches gdp
some one gave you partial stats and you ran with it. You are sourcing a NYT article from 5 years ago???
Obviously things are going downhill at a logarithmic rate in America since 2004
How does America pay off 102 trillion for SS & Medicare; 53 trillion plundered from other trusts; and, 25 trillion owed to other countries?
Mathematically it is impossible due to the size of the debt, and for the fact America pays private banks to print its money; and due to the factional reserve lending system
you have a flair for the melodramatic, look, this is part of the business cycle, when you don't have cash you borrow, then when you have cash you pay off the debt. SS/medicare is easy, raise the age requirement 1 year every five years. Debt to other countries; population growth gives you a bigger tax base, more revenue.
There is no such thing as "plundering 'other' trusts" this is an internet myth.
You need to go down to your local Community college and take a class in Money and Banking.
Look, I will take a look at recent credible sources, you haven't listed one. What you have sighted were dated spurious information, that you claim as truth. You offer half truths, and opinions, ridicule opposing views. You state that America will be bankrupt in 2 years. I request that you prove it... In the America I live in, you need documented information to verify facts. You have none.
I don't know which citations you are looking for - It's easier if you just msg me for them; but I will attempt to attach several for you now:
The 2008 Social Security and Medicare Trustees Reports show the combined unfunded liability of these two programs has reached $101.7 trillion in today's dollars - ncpa(dot)org/pub/ba616
Another source: Grandfather Debt Report; (also note Gov spending vs Private sector economy that is the scariest); Brooking study lists it at 60 Trillion, (Reassessing the Fiscal Gap)
mwhodges(dot)home(dot)att(dot)net
NEXT - TARP plus FED bailouts = 25 trillion
If I am missing the citations you want, let me know - Be specific please
3 comments do not constitute a public opinion BUT these comments go to say AP does not carry any credibility any more. Come on give us more loads of crap!
yaplonglong 2 years ago
Obama is kicking ass!
ThinkingLeft 2 years ago
America bankrupt:
102 trillion for SS & medicare
25 trillion for TARP & bailouts
53 trillion plundered from other trusts
Every single American man, woman & child owes over $600K in FED Gov debt
The US dollar will collapse within the next 1 to 2 years
Check out Rockefeller & Senate Bills 773 & 778 attempting to end American access to the Internet
Americans lost all but no. 3 of their Bill of Rights; Geithner has been wrong about everything for 15 straight years!
1 in 10 on US food stamps!
sugarpuddin88 2 years ago
yeah, and the boogey man is under the bed, and the Borg are on their way to earth, and Ren and Stimpy got canceled...
press1500 2 years ago
press - You must be US Press
Do you disagree with anything I submitted?
If so, don't you have the brain cells to debate?
Why don't you give it a try if you can!
sugarpuddin88 2 years ago
well since you are calling me out, let's see what i can do with my pitiful public education.
Your basis for Bankruptcy, offers scant if any budgetary analysis. Like, revenue or do you think all Americans will just stop paying taxes???
Also, you offer absolutely no factual evidence that the dollar will collapse in 2 years. None.
1 in 10 on US food stamps, which means the poverty rate is 10%??? hasn't it always been?
I disagree with your lack of facts...
press1500 2 years ago
US Childhood poverty now ranks 22nd, or 2nd to last among the dev nations - Only Mexico scored lower, (NYT, Nov 22 2004 - The European Dream)
Every American owes 600K in Fed Debt alone - You don't think bankruptcy is inevitable?
(msg me if you need source citations on my FED Debt citation)
Gov grows 4 Xs faster than economy
Fed spending grows 16 times faster than economy, (16 fold expansion in control & gov dependence)
sugarpuddin88 2 years ago
The US gov now holds 57% share of entire National Income = Government makes more than all the money made in private sector!
There are 1.5 quadrillion in outstanding American Derivatives
(Google the Hodges Grandfather Economic Report - His charts use US fed sources; and I obtain several stats from their charts)
sugarpuddin88 2 years ago
Revenue, you must address revenue, you can't state arbitrarily that bankruptcy is inevitable, with out mentioning revenue. Bankruptcy is only emminent when then revenue matches gdp
some one gave you partial stats and you ran with it. You are sourcing a NYT article from 5 years ago???
you are woefully misinformed.
press1500 2 years ago
Obviously things are going downhill at a logarithmic rate in America since 2004
How does America pay off 102 trillion for SS & Medicare; 53 trillion plundered from other trusts; and, 25 trillion owed to other countries?
Mathematically it is impossible due to the size of the debt, and for the fact America pays private banks to print its money; and due to the factional reserve lending system
sugarpuddin88 2 years ago
you have a flair for the melodramatic, look, this is part of the business cycle, when you don't have cash you borrow, then when you have cash you pay off the debt. SS/medicare is easy, raise the age requirement 1 year every five years. Debt to other countries; population growth gives you a bigger tax base, more revenue.
There is no such thing as "plundering 'other' trusts" this is an internet myth.
You need to go down to your local Community college and take a class in Money and Banking.
press1500 2 years ago
I gave you my source citations
However, you, like most America, chooses to live in a fantasy
You are never safe from the truth; but in the truth you can survive
sugarpuddin88 2 years ago
Look, I will take a look at recent credible sources, you haven't listed one. What you have sighted were dated spurious information, that you claim as truth. You offer half truths, and opinions, ridicule opposing views. You state that America will be bankrupt in 2 years. I request that you prove it... In the America I live in, you need documented information to verify facts. You have none.
press1500 2 years ago
press
I don't know which citations you are looking for - It's easier if you just msg me for them; but I will attempt to attach several for you now:
The 2008 Social Security and Medicare Trustees Reports show the combined unfunded liability of these two programs has reached $101.7 trillion in today's dollars - ncpa(dot)org/pub/ba616
sugarpuddin88 2 years ago
Another source: Grandfather Debt Report; (also note Gov spending vs Private sector economy that is the scariest); Brooking study lists it at 60 Trillion, (Reassessing the Fiscal Gap)
mwhodges(dot)home(dot)att(dot)net
NEXT - TARP plus FED bailouts = 25 trillion
If I am missing the citations you want, let me know - Be specific please
sugarpuddin88 2 years ago
Those AIG numbers are so fucked up; one tenth of a percent YA! I still don't have a job.
sethcat99 2 years ago
AIG awarded $500 million in bonuses to its executives after accepting a $173 billion government bailout
After the Tax Payer bailed out Merrill Lynch, they turned around and gave their executives 3.6 billion in Christmas Bonuses!
UBS bank was fined 700 million for tax evasion; then Congress gives them 5 billion free tax payer dollars
The Government is a growing Tumor & the illegal privately owned FED Reserve is its blood supply!
Goldman Sachs made a killing off AIGs collapse!
sugarpuddin88 2 years ago