smittyoneeach's Journal: The debt limit farce

http://pjmedia.com/blog/debt-limit-huh-unfunded-liabilities-dwarf-16-7-trillion-ceiling/?singlepage=true
The link above is a great set of gloomy links to just how jacked up our finances really are.

But $222 trillion in debt canâ(TM)t simply be worked around. Will our commentariat and government officials ever discuss our current federal budget in terms of unfunded liabilities? Fear of being honest with the American people, especially baby boomers who have paid into these programs for decades, may be the concern. Or perhaps they simply think there will somehow be enough money to make good on the benefits promised.

This is why I can't put stock in liberal think tanks who're all "Yeah, we just gotta raise taxes & stuff and shore up these entitlements."
Improvement starts with honesty.

Improvement starts with honesty.

[fustakrakich]

That would imply understanding that the "debt" is nothing but a rationalization to expand austerity. The numbers are pure fantasy.

Re:

[smittyoneeach]

"expand austerity" is as much a snort of Drano as saying a reduction in spending increases is a "cut".
I suppose I prefer fantasy to insanity.

Re:

[PopeRatzo]

That would imply understanding that the "debt" is nothing but a rationalization to expand austerity. The numbers are pure fantasy.

The best part of this story is that the economist who claims the $222 trillion debt is best knows for creating and selling a product called "Maximize My Social Security ", which is designed to help people get a maximum payout from Social Security.

When you hear the term "unfunded liability" you need to head for the hills. That term can be used to describe everything that the gove

Re:

[smittyoneeach]

I am in awe of your little doubt-seed-planting efforts over our last several interactions.
You're clearly an advanced practitioner of the Hooey Arts, and worthy of study and cataloguing as a master of rhetorical Three Card Monte.

CENTRAL RESERVE BANKING

[Jeremiah Cornelius]

Everything else is a symptom. Congress used to exercise coinage. Now, they exercise obligation of debts.

Outlaw compound interest.

Then? You discover how rich or poor you REALLY are - personally and in the collective.

Re:

[smittyoneeach]

Yeah, we're pretty baked in the collective.