Start saving, you owe $534,000

Banned · Post by **Banned** » Tuesday Jun 07, 2011

Each American household owes $534,000 in unfunded obligations. Medicare and Social Security comprise most of that total.

http://www.usatoday.com/news/washington ... titialskip

"The (federal) debt only tells us what the government owes to the public. It doesn't take into account what's owed to seniors, veterans and retired employees,"

Banned · Post by **Banned** » Tuesday Jun 07, 2011

http://www.usatoday.com/news/washington ... rity_n.htm

"The first of 77 million Baby Boomers turn 65 this year and qualify for Medicare. Enrollment will grow from 48 million in 2010 to 64 million in 2020 and 81 million in 2030, according to Medicare actuaries.

This demographic burst — combined with the addition of a prescription drug benefit in 2006 and rising health care costs generally — has created an unfunded liability of nearly $25 trillion over the lifetime of those now in the program as workers and retirees

Social Security faces the same demographic challenges as Medicare: a rapidly aging population and increased longevity.

The $21.4 trillion unfunded liability represents the difference between all taxes that will be paid and all benefits received over the lifetimes of everyone in the system now "

Banned · Post by **Banned** » Tuesday Jun 07, 2011

When the unfunded pension liabilities are added you start talking about some real money. Over $100 TRILLION, and start looking at about a cool million per household.

This government debt thing really starts to add up.

http://stopnationaldebt.blogspot.com/p/ ... l?spref=fb

onegunguitar · Post by **onegunguitar** » Tuesday Jun 07, 2011

I'll get my check for it in the mail today

f.sciarrillo · Post by **f.sciarrillo** » Tuesday Jun 07, 2011

I just donated some plasma to help with it.

tornandfrayed · Post by **tornandfrayed** » Tuesday Jun 07, 2011

Can you say "Logan's Run"?

I am all for making the hard decision and just offing old people...

JK!!

songsmith · Post by **songsmith** » Tuesday Jun 07, 2011

http://theamericansquare.org/profiles/b ... -it-doesnt

First entry I found on Google that wasn't attributed to the blogger Joe linked to.

lonewolf · Post by **lonewolf** » Tuesday Jun 07, 2011

songsmith wrote:http://theamericansquare.org/profiles/b ... -it-doesnt

First entry I found on Google that wasn't attributed to the blogger Joe linked to.

OMG! VICTOR MATA! OMG! ROFLMAO!

That was really funny Johnny...keep those links coming!

songsmith · Post by **songsmith** » Tuesday Jun 07, 2011

I googled the first line of the blog he posted. That's usually the easiest way to undo Joe. I have no idea who you're talking about and why. I assumed he was some blogger, like Joe posted. Is that not okay, either? A blogpost is a blogpost, and needs no fact-checking as long as you know it's a blog.
I looked for page after page. Joe's "info" could not be found on any site except rightwing blogs. Opinion, not fact.

lonewolf · Post by **lonewolf** » Tuesday Jun 07, 2011

songsmith wrote:I googled the first line of the blog he posted. That's usually the easiest way to undo Joe. I have no idea who you're talking about and why. I assumed he was some blogger, like Joe posted. Is that not okay, either? A blogpost is a blogpost, and needs no fact-checking as long as you know it's a blog.
I looked for page after page. Joe's "info" could not be found on any site except rightwing blogs. Opinion, not fact.

Ah, so you didn't read it. Let's just say that Victor should divulge which high school he goes to so we know what audience he is trying to snow.

shredder138 · Post by **shredder138** » Tuesday Jun 07, 2011

Yeah, like I'm really gonna pay back that shit.

Banned · Post by **Banned** » Tuesday Jun 07, 2011

The information source was clearly stated in the article I linked:

http://www.fms.treas.gov/fr/09frusg.html

It is from the government you so love to defend Johnny. Doh.

Hawk · Post by **Hawk** » Tuesday Jun 07, 2011

Joe and Sarah Palin. "Hate... Hate... Hate..." And you both know everything !

I LIKE BIG GOVERNMENT ! I like the EPA - you like poison as opposed to regulations. I like the FDA, you can eat shit if you like. I can go on...

I LIKE BIG GOVERNMENT ! IT AIN'T CHANGIN ! So why don't you leave your fantasy land of hate. IT'S not that I don't care, I just think you're trying to force your fantasy of hate on the rest of us. SCREW IT !

lonewolf · Post by **lonewolf** » Tuesday Jun 07, 2011

Hawk wrote:Joe and Sarah Palin. "Hate... Hate... Hate..." And you both know everything

Yes, but Joe is not a MILF

Hawk · Post by **Hawk** » Tuesday Jun 07, 2011

lonewolf wrote:
Hawk wrote:Joe and Sarah Palin. "Hate... Hate... Hate..." And you both know everything
Yes, but Joe is not a MILF

Banned · Post by **Banned** » Wednesday Jun 08, 2011

Hawk wrote:Joe and Sarah Palin. "Hate... Hate... Hate..." And you both know everything !

I LIKE BIG GOVERNMENT ! I like the EPA - you like poison as opposed to regulations. I like the FDA, you can eat shit if you like. I can go on...

I LIKE BIG GOVERNMENT ! IT AIN'T CHANGIN ! So why don't you leave your fantasy land of hate. IT'S not that I don't care, I just think you're trying to force your fantasy of hate on the rest of us. SCREW IT !

Where have I ever supported Sarah Palin. I did not vote for her. You and Johnny keep lumping me with Sarah Palin, could you provide the post where I backed her politically?

I know you like big government. How do you feel about this government in $116 TRILLION TOTAL DEBT?

What do you think your government should say to all the retirees who want their Medicare and Social Security, and its all gone? Or say to all the government worker retirees who want their promised pensions, and there in no money in the bank?

I will bet you will ignore this and are supporting the O when he asks congress for an additional $2.7 Trillion to the debt ceiling.

Hawk · Post by **Hawk** » Wednesday Jun 08, 2011

undercoverjoe wrote:
Hawk wrote:Joe and Sarah Palin. "Hate... Hate... Hate..." And you both know everything !

I LIKE BIG GOVERNMENT ! I like the EPA - you like poison as opposed to regulations. I like the FDA, you can eat shit if you like. I can go on...

I LIKE BIG GOVERNMENT ! IT AIN'T CHANGIN ! So why don't you leave your fantasy land of hate. IT'S not that I don't care, I just think you're trying to force your fantasy of hate on the rest of us. SCREW IT !
Where have I ever supported Sarah Palin. I did not vote for her. You and Johnny keep lumping me with Sarah Palin, could you provide the post where I backed her politically?

I know you like big government. How do you feel about this government in $116 TRILLION TOTAL DEBT?

What do you think your government should say to all the retirees who want their Medicare and Social Security, and its all gone? Or say to all the government worker retirees who want their promised pensions, and there in no money in the bank?

I will bet you will ignore this and are supporting the O when he asks congress for an additional $2.7 Trillion to the debt ceiling.

I only pointed out that you spew hate just like Palin.

You tell those people Joe, the tax breaks of GW Bush took their money. And I'm personally sick of going point to point with you while you pick and choose from my points.

Banned · Post by **Banned** » Wednesday Jun 08, 2011

Are you OK with this government being $116 TRILLION IN DEBT, and the big O asking for an additional $2.7 TRILLION to the debt ceiling?

What do I hate, besides this government?

What exactly does Sarah Palin hate?

You should aim you sick feelings towards this government, which has ruined our country.

f.sciarrillo · Post by **f.sciarrillo** » Wednesday Jun 08, 2011

I am seriously having a hard time believing the Bill is a capitalist.

songsmith · Post by **songsmith** » Wednesday Jun 08, 2011

undercoverjoe wrote:Are you OK with this government being $116 TRILLION IN DEBT,.

Will Joe please explain where this number comes from? And would he like to get in on the ground floor of a business opportunity as owner/operator of a bridge I'm selling in Brooklyn?

Also... in this argument, and all the conservative arguments to the sudden "debt crisis," nobody EVER mentions assets. Does the US govt have any assets? When I take on a debt, don't I also consider my assets? If I own an acre of ground, and make $20,000 a year, it's difficult for me to get buy a Mercedes. If I make that same $20,000 and own 100,000 acres of ground, I'm driving home in style.
And I'm not going to let anyone forget: The Bush tax cuts decreased revenues. Revenues are government's income. Less revenue means less money coming in, to pay the bills. Even if you do not spend another dime, you cannot pay your existing bills if you willingly accept a cut in income. Bills like the Iraq War, which our esteemed Rockpage conservatives all supported vehemently.
Where are all the benefits of those tax cuts? Where are those jobs that you folks (and your representatives) promised when the right held unemployment benefits recipients hostage for those cuts. Remember that?

I'll stop now, because while this post has an overall theme (reaction to 'sudden debt,') there are several points, and I don't want to confuse anyone.

Hawk · Post by **Hawk** » Wednesday Jun 08, 2011

f.sciarrillo wrote:I am seriously having a hard time believing the Bill is a capitalist.

I'm self employed and do you really want to start attacking me again ? You usually cry and say, "I'll never write about politics again !"

Banned · Post by **Banned** » Wednesday Jun 08, 2011

All the data comes from:

http://www.fms.treas.gov/fr/09frusg.html

The $14.4 Trillion is the current debt. The number of $116 Trillion is future liabilities, including entitlement programs like Medicare, Medicaid, Social Security. Also included are all the unfunded medical and pension benefits for local, state and federal employees.

The US has assets estimated at $57 Trillion in 2010, down from $65 Trillion when Nancy Pelosi became Speaker of the House in 2007.

songsmith · Post by **songsmith** » Wednesday Jun 08, 2011

I clicked on that link twice, and it gets me to a cover page, not data. I'm not spending another half-hour trying to find data that either doesn't exist, or is an extension of an extension of something somebody said on the radio.
Post how you arrived at 116 trillion dollars as a number. I want to know how you accounted for current and future revenue, or did you at all? Tell me how you know beyond a shadow of doubt that we will pay this exact number, and how you know exactly how the economy will play out over the time period. I'd also like to know how I will personally be responsible for teacher pensions in Michigan, or anywhere outside my own jurisdiction, and how you know they will default. Do the numbers account for the end of the Bush Tax Cuts next year, resulting in more revenue?
If this post is too long or convoluted, I can break it down into smaller posts, if you like.

Banned · Post by **Banned** » Wednesday Jun 08, 2011

This blog site, which you criticized shows how the math was done. Another one I can add shows the debt even greater. (http://www.cato.org/pub_display.php?pub_id=12906) All his data came from the US government cite.

http://stopnationaldebt.blogspot.com/p/ ... l?spref=fb

http://www.fms.treas.gov/fr/09frusg.html

If you do not like the data, can you show me a site where all the future Medicare and Social Security is already paid for, and we have nothing to worry about?

songsmith · Post by **songsmith** » Thursday Jun 09, 2011

songsmith wrote:Post how you arrived at 116 trillion dollars as a number. I want to know how you accounted for current and future revenue, or did you at all? Tell me how you know beyond a shadow of doubt that we will pay this exact number, and how you know exactly how the economy will play out over the time period. I'd also like to know how I will personally be responsible for teacher pensions in Michigan, or anywhere outside my own jurisdiction, and how you know they will default. Do the numbers account for the end of the Bush Tax Cuts next year, resulting in more revenue?If this post is too long or convoluted, I can break it down into smaller posts, if you like.

ROCKPAGE

Start saving, you owe $534,000

Start saving, you owe $534,000

Yeah!