Forget about national healthcare! It’s not going to happen. We don’t have the MONEY! In fact our government doesn’t have the money to do the things it’s been doing for quite some time now. The reality of the Obama legacy for the history books is not going to be a good one; however, it was all started by the Bush administration that carried the label of compassionate conservatism which cloaked insane economics!
America is bankrupt- too big to fail? Read the Roman road and I’m not talking Biblically.
While Obama and the Democrats are trying to SPEND their way out of debt (who in the hell can do that?) with a new budget that adds yet another $1.8 TRILLION (and that number is wildly conservative if not downright not realistic), social security is BANKRUPT! Hello! Is anyone awake at the wheels of Federal government? A report from the Congressional Budget Office shows that for the first time in 25 years, Social Security is taking in less in taxes than it is spending on benefits.
Instead of helping to finance the rest of the government, as it has done for decades, our nation’s biggest social program needs help from the Treasury to keep benefit checks from bouncing — in other words, a taxpayer bailout.
What a fine mess you’ve got us in Ollie!
No one has officially announced that Social Security will be cash-negative this year. But you can figure it out for yourself by comparing two numbers in the recent federal budget update that the nonpartisan CBO issued last week. The first number is $120 billion, the interest that Social Security will earn on its trust fund in fiscal 2010. The second is $92 billion, the overall Social Security surplus for fiscal 2010. Is social security too big to fail?
News flash: it is NOW FAILING!
Social Security hasn’t been cash-negative since the early 1980s, when it came so close to running out of money that it was making plans to stop sending out benefit checks. That led to the famous Greenspan Commission report, which recommended trimming benefits and raising taxes, which Congress did. Those actions produced hefty cash surpluses, which until this year have helped finance the rest of the government. Those days are now over.
The US debt is on track to hit a congressionally proposed debt ceiling of 14.3 trillion dollars by the end of February, the Treasury said Wednesday, a day ahead of a key vote to raise it to that level. “Based on current projections, Treasury expects to reach the debt ceiling as early as the end of February. However, the government’s cash flows are volatile, making it difficult to forecast a precise date,” the Treasury said in a statement.
And then these headlines today that Harrisburg, the capital of Pennsylvania, will consider Chapter 9 bankruptcy protection along with tax increases and asset sales as options to address $68 million in debt service payments due this year, the chairwoman of a City Council committee said last night. Could the whole world go bankrupt at the same time? Is social security too big to fail?
I say let’s throw EVERYONE out of office this November that’s not being realistic. If we do that, does that meab that only Ron Paul will continue? 
As a spiritual-futurist, I have a BA degree majoring in history. One cannot know the future without knowing the past which holds clues to what is on the horizon. The world is in such a rapid expansion of knowledge that we are close to entering a tipping point that will forever change earth as we know it.
