Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending

Huge budget deficits and record levels of national debt are getting a lot of attention, but this video explains that unfunded liabilities for entitlement programs are Americas real red-ink challenge. More important, this CF&P mini-documentary reveals that deficits and debt are symptoms of the real problem of an excessive burden of government spending. www.freedomandprosperity.org

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[Michael Polidori]

Democrats & Republicans work together to steal from the current pile of money collected & from the future, by borrowing money we don't need

The problem is not government, which is absolutely necessary to reign in free markets (responsible for our financial meltdown). The problem is getting honest individuals in our regulatory bodies & elected offices

Corporate influence is the bogeyman here, not government

Google - Brooksley Greenspan - & you will start to see the truth

[Michael Polidori]

Our govt protects corporate rights. Supreme Court granted personhood to corps in 1886. Now "they" give unlimited secret political contributions. Arguments for 5th amendment rights have been argued for in court

Corporate decisions are made by REAL PEOPLE

Corps given personhood protects accumulated wealth of corp officers as "employees"

Abolish corporate personhood, eliminate parachutes, corp officers on regular retirement benefits tied to future corporate health, like the rest of us

[2robdot]

she simply repeats teabagger lies and talking points. this phrase they like to repeat now "unfunded liabilities" is nonsense, and completely meaningless. is your mortage an unfunded liabilitiy??  dont buy any of this complete bullshit. notice they dont say social security runs deficits. because it doesnt !!!!! its all a lie.

[aveng006]

the richer should also contribute, it's like the euro crisis, in France, the richer pay less taxes and the germans don't want to pay for all thoses corrupt greecs that bypass taxes by putting their money to Switzerland. In the prisoner's dilemma, if no one wants to pay, the price people will have to pay will be greater than if everyone contributed a little

[Michael Polidori]

CORPORATIONS PROFIT

Repubs caused most liabilities for 31 years with 3 unfunded wars, an extra $600 billion in unfunded Medicare drug act & 5 administrations of wealthy's tax cuts

The 1990 Reagan-planned/Bush-executed Force Modernization Act reduced our military by 500,000 over 10 yrs w/many jobs now corporately contracted

Democrats have failed to do anything & helped destroy us by enabling Free Trade deficits in Clinton's reign, benefitting transnational corporate middlemen & China

[tigerhop]

How ironic: the CBO just estimated we would reach 100% GDP to debt ratio by the end of this year.

[Michael Polidori]

Our growing deficits & debt is being orchestrated by corporations & banks bribing govt legislators/regulators & sucking wealth out of our economy & future generations.

Corporations are the bogeyman & the route by which our govt $ are drained

Budget for the last 3 wars we are involved in? $4.3 TRILLION. The amount paid to our soldiers & their families? $32 Billion. OVER $4 TRILLION going to corporations like Haliburton's Blackwater, defense contractors, other corp contractors

[Michael Polidori]

Govt did not "screw up" all by itself. Banking regulations were relaxed at the request of banks. "Requests" are made thru lobbying efforts, contributions, jobs, or cash bribes. Julie Gerberding, Arthur Hayes, Billy Tauzin are examples of how industry buys politicians & regulators

When banks no longer held the mortgage notes they stopped verifying credit worthiness, leading to "liar's loans. Banks made up front fees, bundled & sold mortgages, bribed to have them rated AAA

[Ibuki Fuko]

The wars are also a huge part of this, we need to end those too.

[olzt100]

Ok, Missy, I am going to give you a quick lesson in economics. Currently the nations debt is about a 1:1 ratio with GDP, or national production. Many companies run as high as 3 to 1 debt to income ratio. What's the major difference? Companies expect to grow, thus earning revenue to create profit & pay down debt. Debt is not bad when one can use the money to expand & increase. The US problem is that it is losing jobs and mainly due to US based companies. Control spending, increase revenue & jobs

[LogicalFlawDetector]

Loser. Google "From Bubble to Depression?" and read the entire article by Vernon Smith, a Nobel prize winning economist and founder of experimental economics. He explains why government screwed up and inflated the housing bubble.