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Daily Archives: April 6, 2011

You may want to sit down before reading this.

You may want to sit down before reading this.
The fiscal crisis facing many states is about to go from bad to worse.
And the latest rumor coming out of Washington on how to “fix” the problem may have you seeing red. I’ll tell you why in a moment.
While the unrest happening in Wisconsin is spiraling out of control, the mayhem is just a symptom of a much larger problem.
The debt crisis in America is spreading. It’s becoming insurmountable.
At last count, 43 states are staring at monster budget deficits.
Last week New-York Governor Cuomo released a statement saying the state is “functionally bankrupt.” The projected budget shortfall? A mere $9 billion for fiscal year 2010.
It’s no better across the Hudson. The state of New Jersey recently revealed that its unfunded pension liability for state government employees reached a record $54 billion. An 18% increase from the prior year.
It’s been reported that state and local governments have more than $2.8 trillion of outstanding debt. In addition they are carrying approximately $3 trillion of unfunded public pension and health care liabilities.
Up until this year they solved the problem by borrowing more, refinancing their debt, and then incurring new debt to cover out of control pension and health care benefits for public employees.
But it looks like the party is about to end. The well has dried up.
Governors in states like Wisconsin, Ohio, Florida, and in many other Republican held states are slashing budgets like never before.
What’s happening in our country today is unprecedented. You have to go all the way back to the civil war to find a time when this many states defaulted on their debt obligations.
And even during the Great Depression in the early thirties, only the state of Arkansas defaulted on its debt!
So it appears the day of reckoning has finally arrived for states teetering on the edge of bankruptcy right? Well, maybe not.

Recent Rumblings Coming out of
Washington May Anger You.

Word is already starting to spread that states may consider bankruptcy as a way to wiggle out of their mess. They believe the Fed will bail them out as they are “too big to fail.” Just like the banks, GM, Fannie and Freddie.
In other words, you could be picking up the tab again!
But where is the money going to come from? Today our national debt is more than $14.3 trillion.
The Fed already holds more than $1 trillion dollars of U.S. treasuries—that’s more than 70% of all outstanding debt—making it the largest lender to the U.S. in the world.
No it’s not China anymore. Heck, they’ve wised up and don’t really have our best interests at heart anyway.
For every dollar the government spends about 50 cents of it is borrowed! Our debt is about 500 times larger than the size of our economy. That’s the real story.
But up until recently, most of the mainstream media seem to be missing this. They’re fascinated with the rallies, protests, political strategies and senators gone awol, but fail to see how this can seriously affect all Americans. Not only today, but generations down the road.
It’s no wonder gold is at an all time high, people are starting to stock pile food in their homes, and the dollar has lost more than 500% of its value since 2001.
Will the Fed once again ignore the will of the American people and bailout the states?

 
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Posted by on April 6, 2011 in Family

 

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THIS SENIOR CITIZEN NAILED IT!!!!!!!!!!!!!!

THIS SENIOR CITIZEN NAILED IT!!!!!!!!!!!!!!

Alan Simpson, Senator from Wyoming , Co-Chair of Obama’s deficit commission, calls senior citizens the Greediest Generation as he compared “Social Security” to a Milk Cow with 310 million teats. August, 2010.
Here’s a response in a letter from a unknown fellow in Montana … I think he is a little ticked off! He also tells it like it is !
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“Hey Alan, let’s get a few things straight..
As a career politician, you have been on the public dole for FIFTY YEARS.
I have been paying Social Security taxes for 48 YEARS (since I was 15 years old. I am now 63).
My Social Security payments, and those of millions of other Americans, were safely tucked away in an interest bearing account for
decades until you political pukes decided to raid the account and give OUR money to a bunch of zero ambition losers in return for votes, thus bankrupting the system and turning Social Security into a Ponzi scheme that would have made Bernie Madoff proud.
Recently, just like Lucy & Charlie Brown, you and your ilk pulled the proverbial football away from millions of American seniors nearing retirement and moved the goalposts for full retirement from age 65 to age 67. NOW, you and your shill commission is proposing to move the goalposts YET AGAIN.
I, and millions of other Americans, have been paying into Medicare from Day One, and now you morons propose to change the rules of the game. Why? Because you idiots mismanaged other parts of the economy to such an extent that you need to steal money from Medicare to pay the bills.
I, and millions of other Americans, have been paying income taxes our entire lives, and now you propose to increase our taxes yet again. Why? Because you incompetent bastards spent our money so profligately that you just kept on spending even after you ran out of money. Now, you come to the American taxpayers and say you need more to pay off YOUR debt.
To add insult to injury, you label us “greedy” for calling “bullshit” on your incompetence. Well, Captain Bullshit, I have a few questions for YOU.
How much money have you earned from the American taxpayers during your pathetic 50-year political career?
At what age did you retire from your pathetic political career, and how much are you receiving in annual retirement benefits from the American taxpayers?
How much do you pay for YOUR government provided health insurance?
What cuts in YOUR retirement and healthcare benefits are you proposing in your disgusting deficit reduction proposal, or, as usual,
have you exempted yourself and your political cronies?
It is you, Captain Bullshit, and your political co-conspirators called Congress who are the “greedy” ones. It is you and your fellow nutcases who have bankrupted America and stolen the American dream from millions of loyal, patriotic taxpayers. And for what? Votes. That’s right, sir. You and yours have bankrupted America for the sole purpose of advancing your pathetic political careers. You know it, we know it, and you know that we know it.
And you can take that to the bank, you miserable SOB.

If you like the way things are in America, delete this. If you agree with what a fellow Montana citizen says, PASS IT ON!!!

Donald Trump’s Presidential Decision Coming Soon

Donald Trump tells ESPN he’ll decide on a 2012 presidential run before June.

http://abcnews.go.com/Video/playerIndex?id=13302628

 
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Posted by on April 6, 2011 in News and politics

 

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