Money Minute: Jobs, AIG, Disney

Employers throttled back on layoffs in July, cutting just 247,000 jobs and bumping the unemployment rate down to 9.4 percent The AP's David Melendy reports. (Aug. 7)

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[sugarpuddin88]

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]

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

[press1500]

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.

[sugarpuddin88]

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

[press1500]

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.

[sugarpuddin88]

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

[press1500]

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.

[sugarpuddin88]

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]

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)

[press1500]

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...