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That is the sum of the government's current liabilities and unfunded entitlement promises. It translates to $455,000 per American household - about 10 times the median annual income of these same households. As that number continues to grow, it means fewer tax dollars going to other services we need. It means much higher taxes in the future. It means mounting debt and interest payments many Americans will not be able to afford.
Addressed “To the Presidential Candidates and the American People,” the ad states: “Federal office-seekers cannot realistically be expected to propose detailed plans for Medicare, Social Security, health care and other necessary spending and tax reforms during campaign season.” Why not? For over a year that’s exactly what they’ve been doing. And we have almost two months to go before Election Day. It is the two-page ad that is unrealistic. Presently, the Secretary of the Treasury reports a deficit for the fiscal year ending on September 30, of $722 billion.
Originally posted by marg6043
How did it go so big?
Originally posted by welivefortheson
they knew what they were doing.pilfering the publics money and transfering it into the hands of their own corporate bank accounts.
its as easy as this.
we need 1000 new prisons built.
lets get say...halliburton to build them.
public pays 10 billion......halliburton gets 10 billion.
public looses 10 billion.
halliburton is owned by those who are running the country.
And what makes you think that Haliburton is going to get the contracts on these hypothetical prisons? Prisons (or, for that matter, just about every other government project) are usually built by local contractors. Even if Haliburton was the contractor, you're overlooking one important step in your economic analysis. Haliburton gets $10 billion....then passes most of that along to workers, subcontractors, and materials suppliers...who then pass the money on to their workers, who use it to buy goods and services.
Also...who owns Haliburton? You might look at their stockholders. Not all of them are politicians. I know this first hand. Have you done the research to support your claim?
lets make a war.
lets invade iraq
all the tax payers money pays for the war,the weapons,helmets,re construction and so on.
all the money from the above goes to the arms manufacturers and thier subsiduries....halliburton.
halliburton is owned by those who run the country.
i recall the contract for the new presedential helicopter fleet was going to cost something like 23billion,and mcdonald douglas was going to build it at the taxpayers expense.
mc donald douglas is owned by those who run the country
but in this case it was way to obvious so its been delayed/pulled.
get the picture?.the list is endless.
however the price of all this pilfering is the crash and destruction of the worlds leading economy ,and possibly the worlds economy as a whole...the result is that which they have pilfered will be negated by that which they now and will loose.
they dont care about america,its citizens,moral values or any anything other than themselves.
like nero they are weilding damyclus's sword for america.