Uncle Sam’s Dangerous Deterioration
How about Social Security and Medicare? Well, there’s bad news and, as is often the case with this bunch, pretend good news. The bad news, as seen here, is that the government’s actuarial liability for Social Security jumped by $270 billion in fiscal 2010 to almost $8 trillion. The program now runs at a deficit during most months. Without changes, Social Security will hemorrhage cash at an ever-increasing rate in the coming years.
As to Medicare, the government claims at that same link that its actuarial liability for that program decreased by $15.3 trillion, a stunning turnaround it attributes to the passage of ObamaCare. Here what the GAO had to say about that assertion:
Significant uncertainties [...] primarily related to the achievement of projected reductions in Medicare cost growth reflected in the 2010 Statement of Social Insurance, prevented us from expressing an opinion on that statement.
That’s polite accounting-speak for: “Though we can’t prove it, we think it’s a load of rubbish.”
In October through December of 2010, the first three months of fiscal 2011, the government’s detachment from financial reality only increased, and its march toward the abyss accelerated.
Except for seemingly endless unemployment benefits, the Obama administration’s stimulus programs, which really ended up stimulating nothing — especially employment — are supposedly over. Logically, federal spending should be going down. Nope. Outlays from October through December of 2010 were about 3% higher than the same three months of last year. That may not seem like much, but given that cash spending in fiscal 2010 was about 20% higher than it was just two years earlier, there’s no excuse for it.
Meanwhile, though federal receipts have increased by 9% over the first fiscal quarter of last year, they’re coming in well behind where they need to be to meet the Congressional Budget Office’s most recent full-year fiscal 2011 projected increase of well over 20%. Moreover, it’s federal income tax collections that are up, while Social Security and Medicare collections continue to plummet, even before this calendar year’s 2% Social Security tax cut kicks in. Social Security and Medicare collections were over 4% lower during the most recent quarter compared to the fourth calendar quarter of last year, and were a stunning 12% lower in December 2010 compared to December 2009.
The irony of all of this is — pun intended — rich. Despite this administration’s egalitarian rhetoric, the combination of upward movements in income tax collections combined with declining Social Security and Medicare receipts is a clear sign that many of the nation’s highest earners are prospering as they never have before, while the Democrats’ supposedly favored “working people” are earning less.
These very real numbers paint a portrait of a country in serious trouble led by an administration that seems hellbent on driving it over the cliff — while the Federal Reserve’s quantitative easing ensures that we’re hurtling down a greased runway.
It’s up to the new House majority in Washington to stop the train for the next two years, in the hope of finding a new driver in 2013. Putting real teeth into spending reductions in return for raising the debt ceiling would be a decent first step. Frequently using disapproval resolutions to stop the most harmful new regulations would also help.
Any lawful means necessary must be employed. It’s not a stretch to say that our country’s survival as we know it may be at stake.
You have that right. Remember Argentina was once a first world country until it lost control of it’s spending.
Everybody has regrets; One of mine is that I did not save a copy
of ‘The Letter From Argentina’ when it appeared on the Web;
The description of how life adapts in order to go on in a
deteriorating society is understated, but scary as Hell.
I highly recommend Fernando Aguirre’s blog at http://ferfal.blogspot.com/. That’s probably what you’re looking for. Interesting thing about Argentina – they have at least once come to the brink of total chaos – degringolade – but they walked back from it. Their common cultural roots may have been the only thing that prevented it. Whether that will hold true for their future is anyone’s guess.
But what’s not up for a guess is the degree to which America has been fragmented and Balkanized by the highly successful implementation of the destructive Gramscian meme. We won’t stop at the brink – we’ll take a swan dive over it.
Somewhere in the self serving seedy little minds of Obama, Pelosi, Reid, and the general progressvie establishment I don’t think that Argentina as an outcome has ever occurred to them. The obvious reason is that I don’t recall anyone in the progressive movement, at least that I have met, who has ever opened a history book or can discuss ANY history in ANY meaningful way, other than Marx or Aulinsky amongst a few of them.
Should we go over the cliff at high speed their vision is of themselves creating an all new Utopia from the top down with themselves in charge, and then we will have one ring of a few like them to rule them all. That’s all they want, I think, that and to feel good and be pompous in the act.
I suspect that not unlike their lack of concern over the deficit they have given no more thought to the outcome of their actions than they would passing another entitlement. They know they are right.
FYI-Wiki
Domestic instability and global trends, however, contributed to Argentina’s decline from its noteworthy position as the world’s 10th wealthiest nation per capita in 1913[85] to 62nd by 2010 (though it remains above the world average in purchasing power parity terms).[4] Though no consensus exists explaining this, systemic problems include burdensome debt, monetary uncertainty, excessive regulation, barriers to free trade, and a weak rule of law with corruption and a large bureaucracy
Sound Familiar?
This is only becuase greedy billionaires who haven’t paid a cent in taxes since the Reagan tax cuts of 1981 have hogged almost all of the wealth. If we only seize the assets of the greedy billionaires like the Koch brothers, the government could easily meet all of its obligations to the little people and have plenty left over to health care, housing, food, education, and jobs for all.
I’m afraid you’re in the wrong country, pal, stealing is illegal here. Try Venezuela.
Put the crack pipe down and step back please with your hands in the air.
Your brain is now officially fried.
Well said, comrade. Let’s get Directive 10-289 implemented at once!
Like the Kennedy’s, John Kerry, Nancy Pelosi, Michael Moore, Barbara Streisand- So Thobbin, will you start with them and ask them to turn over all their money?
when we hit rock bottom, no amount of money anyone has will be worth NOTHING, NOT EVEN 1 CENT.
MAY GOD HAVE MERCY ON ALL…….”WE THE PEOPLE” will pay, as no one stood up to obama.
“These very real numbers paint a portrait of a country in serious trouble led by an administration that seems hellbent on driving it over the cliff — while the Federal Reserve’s quantitative easing ensures that we’re hurtling down a greased runway.”
What do you call a man, or a political party, that knows we are broke and yet is determined to spend even MORE money? Obama, Reid, and Pelosi knew the financial shape of this country was not and is not good, yet they spent, and spent, and spent, even to the point of giving government workers pay INCREASES while the rest of the country was dealing with massive layoffs and unemployment. What do you call people who knowingly do this and don’t seem to care that we’re going off a financial cliff?
You call them Democrats.
I call them politicians.
As long as people continue to play the R versus D game they are playing into the PTB’s hand.
As long as a significant number of people seriously think that this new bunch of R’s in congress is going to make any significant difference I feel it’s hopeless.
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What does this article say to the common man like me. We the common peoples, the workers of this society that make the money and pay the taxes. We didn’t go to Harvard. We are not versed in economics. We do know struggle and hardship. We have learned that you can’t spend money you don’t have.
But, my opinion is this(even Ray Charles would be able to see through this administration) Harvard graduates seem to be nothing more that college trained crooks. And even when a common man goes the wrong way when he receives a gov. job.
I am no anarchist,but, I think this gov. should be done away. The commies hide themselves in their cushy civil service and tenured chairs. They don’t understand that top down gov. doesn’t work. You can’t take from working people and give to non-workers(that why they r needy) or to foreigners ;people we don’t even know. We are a generous nation. However enough is enough.
there’s no good ending in sight.
when you see silver in the quarters and dimes again, you will know the country is on the road to recovery.
“Poised for progress”; What a laugh! What he doesn’t know is that the ‘progress’ we undertake, will be getting rid of him, and his band of gypsies.
MONEY-SAVING, A SAMPLER
Where is the R. Sargent Shriver Memorial Bill to thank all past members of the Peace Corps for their efforts and lay all the present members off? No peace? No more jobs.
Where is the Lyndon B. Johnson Memorial and Appreciation Sorry-We-Lost Bill closing down each and every War on Poverty program and laying off each and every war worker? No major battles won? We surrender and declare a peace. War’s over. No more jobs.
Where is the B. H. Obama Anybody Can Buy a Home Cheaply Bill to eliminate the Home Buyer Refundable Tax Credit? Homes are selling for 1996 prices? No more free mortgage money. Lay off any administrators.
Where is the Broadcasting Relief Bill to relieve Americans of the burden of paying for the radio and television propaganda programs of the Democraticic party? No objectivity? No tax revenue.
So much important work to be done, so little time. Get at it, Congress.
Thanks, Tom, knowledge is power, although in this instance, it’s terrifying.
Link problem: Note the “especially employment” link on p2 simply takes readers to the PJM home page.
See this link for Obama’s declining popularity numbers and other polling data:
http://www.aei.org/docLib/PRJanuary2011.pdf#page=1
TPTB have ignored the situation for as long as possible;
Now they will try to pretend that it is ‘Unexpected’ and
demand extraordinary powers to take XO measures to cope.
One representative contrast: Here in Dallas, education
funding will be cut to the minimum; In Detroit, they plan
to ‘solve’ the problem by halving the number of schools
and doubling the class size, to as many as 60 teenagers
in a High School classroom.
Related – the CBO is now projecting that, if we remain on “autopilot”, the deficit will be $1.5 trillion this fiscal year and a cumulative $5.3 trillion for the first four years of the full POR Budget (FY2009-FY2012, and yes, I know Bush is partially responsible for FY2009).
We will need a solid fiscon in the White House come 2013, someone like Palin, Pence or Perry.
And don’t even think of Christie. He is left of center on just about every issue outside of the NJ budget. Besides, his name doesn’t start with ‘P’ anyway in a year of “P Prospects”.
Daniels? Jury is still out on this ….(yawn) guy. Fiscon yes. Guts to take on Leviathan and dismember it? I don’t think so.
Palin/West 2012
Cuda & the Colonel
The federal governments accounting…make that, lack of [valid] accounting is criminal! But whats new over the past several decades. Fickle minded, disconnected Americans of todays generations have never been knowledgeable or concerned with the “national” debt. At best, they might have heard in passing, something to the effect of budget deficits, never connecting any dots to anything. Thats what happens when the people [surrender] their constitutional rights and responsibilities….. to a government.
The suggestion of the Defense Department reformation post “Cold War” not actually beginning with any meaningful implementation until Clinton’ GOP Bill Cohen landed as SOD has been a total disaster on so many fronts and for certain, dastardly and irresponsible added costs…EXCLUDING the usual bantered around “contracting” costs of R&D and manufacturing overruns.
That said, our military apparatus should not and cannot be viewed as the federal governments centric liability black hole.
Anyway, there is no longer any valid accounting methods used inside the federal government. In the properly adjudicated private sector, ALL the Executive Branch elected and appointed heads, of many administrations, would be in prison!
A conservative writer should not be uninterested in grammar! Check your second sentence for a very common mistake. Shame!
If the issue is the word “disinterested,” perhaps “uninterested” or “not interested” would have been better, but “disinterested” is not incorrect (see Meaning 2 here). Also read the usage note at the link.
Question of usage. Shouldn’t that be “partially because the establishment press is *uninterested* in such things” ?
A disinterested observer could perhaps observe that comment #15 was posted before comment #14 was read by commenter #15. Aargh…
Not to speak of the vastly greater in number uninterested ones!
SCARY……
Is this REALLY our AMERICA??????
Know the TRUTH about the Government Health Care Bill H.R.3200 – Key Points
http://www.youtube.com/watch?v=HcBaSP31Be8
The highly destructive Cap and Trade. An inferior health care plan that no one wants and CANNOT afford to pay. The threat to jail and/or fine those who don’t purchase the government enforced plan.
Massive spending as if there is no tomorrow. Fighting wars we have no money for. Massive borrowing. The Massive giving away of Billions of dollars every year to other countries, including the oil-wealthy Middle East, Hamas-controlled Gaza and the Palestinian Authority organization who fill their war chests, build mansions and laugh all the way to the bank with free infidel money. Whilst in America, homeless shelters are filled to capacity; tent cities have sprung up all over the U.S. filled with desperate, jobless, homeless, NEGLECTED Americans.
Massive debt. The massive printing of paper money. There is no question that the total DESTRUCTION of America’s economy is planned. The results will be horrifying. In the once wealthy and great nation of America, millions of Americans will become destitute, hungry and homeless with no money or resources to help them.
Obama’s B.S. about all these potential savings for doing X and Y is blowing so much smoke, the EPA should arrest him immediately.
Most of what he talks about has Federal Agencies that are responsible for the very specific items he outlines. HE’S BANKING VERY HEAVILY ON THE STUPIDITY AND IGNORANCE OF THE AMERICAN ELECTORATE. And these are the very people that put him in office to begin with.
A major investor states America is going to reach Zimbabwe hyperinflation.
http://economyincrisis.org/articles/show/2942
Organic, non-gmo fruit and nut trees and berries must be planted in all of our nation’s cities’ and towns’ parks and wherever there is space to help the many millions of Americans who will soon be in a desperate struggle to survive.
Better make that non-organic, with plenty of yummy pesticides and fertilizers. Organic gets you nothing but low yields and anemic fruit.
You want the world to go organic? Better prepare for two billion more supermodels in the world, cause they ain’t eating.
Watch it. And weep for our great nation and people:
FALL Of The Republic – The Presidency Of Barack H Obama – The Full Movie HQ
http://www.youtube.com/watch?v=F8LPNRI_6T8&feature=player_embedded
I like the way you’re thinking; Barrack Hussein Obama-The ‘Baby Doc’ of The United States of America!
I know there is a lot of concern here. I read it. I hope those who are concerned about our great nation gets active to defend it. Defend it from the Progressives who want to destroy it. I have joined with the Tea Party to fight against government policies which are hurting our Country and I will continue to support them. If you don’t like or agree with the TP find another group, donate $5.00 to a group you believe in. The Right needs to stick together and fight back any way we can (but not physically) against radicals and tyranny. Even if it means just making a donation.
God Bless you. God Bless the USA and help us Save our Beautiful Republic, America and our way of life (according to the constitution)…
(March 11, 2010) in Politics / Obama Presidency By Hans Bader
“The Obama Administration has run up the largest budget deficit in American history in February of 2010…”
1. Born to a Muslim father.
2. Spent formative years at a Muslim school.
6. Does not seem to be comfortable revealing his religious beliefs publicly, did not participate in the National Day of prayer last year and has never chosen a church to attend since moving to D.C.
7. Gave $80 Million to Palestine soon after becoming President.
9. Does not desire to take any direct action against Iran while they build a Nuclear bomb.
10. Wants to read Maranda rights to Muslim terrorist.
11. Stonewalling the information on the pro Islamic Major Hasan who killed 13 American military at Ft. Hood.
12. Dismisses our ally, Isreal.
13. AND NOW, Obama hosted a “Summit on Entrepreneurship” in an effort to boost economic development … in Muslim nations.
14. In his book he wrote that he would stand with his Muslin brothers if the wind blows ill.
15. Perhaps he does not want to reveal his past records because they show his Islamic faith.
Next, while Obama has stated that his favorite professors in school were themselves Marxists.
Next, Obama Tries to Eradicate Radical Islam / April 9, 2010
Who hasn’t gone to Pakistan on Spring Break while in college?
Who didn’t actively seek out Marxist professors and write about it?
you forgot NASA outreach for the left handed bum wipers lacking toilet paper.
The New Jimmy Carter.
Like my bumper sticker says; “You can’t call me the worst president any more”, and pictures Carter with his patented grin.
But, Carter was a good speaker. Obama is only a good reader. We have more articulate juveniles working at Taco Bell than Obama.
Barry Barack Hussein Soetoro Obama Freezes Budget for Program Designed to Stop Terrorists from Getting U.S. Visas
“The visa security process is our first line of defense against terrorists and others who wish to do us harm,” Rep. Lamar Smith (Texas), the lead sponsor of the Secure Visas Act, told CNSNews.com. “But under President Obama, new Visa Security Units ground to a halt.” “If the Obama administration will not exercise its authority to develop new VSUs (Visa Security Units) at the highest risk posts identified by its own Department of Homeland Security, Congress must step in,” said Smith.
This 11 or so minutes is well worth your time.
Mark Faber: the (American) economy has become a drug addict…you have to put it into rehab
Here are five societal trends that will further exacerbate the pessimism of two-thirds of American adults who believe our nation’s future is bleak:
1. National poverty is higher now than in all 51 years of record keeping.
2. There is an increasing number of high school drop-outs.
3. The American workforce is steadily becoming less educated.
4. Four of out of every ten births in America are to unmarried women.
5. Only 53% of Americans pay federal income taxes.
We have a national tax system where the top 10% of earners are paying 73% of the federal income taxes, while the bottom 40% are making a profit. What a country!
No wonder so many of the world’s citizens want to come here and stay.
Roy,
Excellent summation of the problems. Either we rediscover the notion of self-control and personal responsibility or we will continue our national free-fall into fiscal, moral, cultural and societal hell.
I just LOVE the idea that my tax dollars go to raise other men’s numberless bastard children. Wow, I get to subsidize another man’s sex life while he slings his hash willy-nilly and without an ounce of accountability. Just another AWESOME idea from our compassionate and useful idiots on the left.
America, you want our jobs back? The Free Trade arguments are answered convincingly in Ian Fletcher’s “Free Trade Doesn’t Work.” Our trade policies have also been a major culprit, and Fletcher does an excellent job both exposing the fallacious arguments for free trade and detailing the damage the free trade ideology has inflicted on our economy. The historical record is ably summarized in Alfred Eckes’ “Opening America’s Market” and in Pat Buchanan’s “The Great Betrayal.” (Eckes is a historian at Ohio University and also served on the International Trade Commission under Reagan). As Fletcher, Eckes, and Buchanan all make clear, protectionism was indeed instrumental in securing American prosperity.
I have only seen one comment from any politician or public figure that hits nail on the head to solve this problem. It was a few days ago with an interview with Donald Trump. That’s right, The Donald. He said he has Chinese friends that tell him that “the Chinese can’t believe how stupid our leaders are? He said they are laughing behind our backs, why? There is no free trade? There is one way to solve the problem not matter what these idiot politicians tell you. If China puts a 25% tariff on our goods, we need to put a 25% tariff on their goods. Not 2%, which is happening now?” If they don’t like it, good, we will build new factories here.
Wake up America, the globalist’s are cutting our throats while they lie to us.
Carter may have been a good speaker but I don’t think he gave speeches well at all. That closed-fist gesture during the malaise speech was truly cringe-worthy.
My only regret in life was drinking in 1979 that six-pack of Billy Beer that I’d bought in 1978. So it goes!
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