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Social Security, Medicare, Interest On The Debt Will Gobble Up Every Single Tax Dollar By 2020

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posted on Mar, 25 2010 @ 06:05 PM
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There is a silent monster that looms menacingly over U.S. government finances. Every politician knows about it, but very few of them ever want to talk about it. This silent monster grows larger every year, and yet nobody seems to know quite what to do about it. Those who have closely analyzed this monster all seem to agree that one day it will create a financial tsunami of a magnitude that is absolutely unprecedented, but there is vast disagreement about how to escape this financial tsunami or if it is even possible to escape it. The name of this monster is "entitlements" - Social Security, Medicare and other social Ponzi schemes that the U.S. government has locked itself into funding. It would be hard to understate the seriousness of the problem that entitlements present. In fact, according to an official U.S. government report, rapidly growing interest costs on the national debt together with spending on major entitlement programs will absorb approximately 92 cents of every dollar of federal revenue by the year 2019. By 2020, that figure will be up around 100 cents of every dollar of federal revenue. So that means that interest on the debt and spending on entitlement programs will eat up everything the U.S. government takes in before a penny is spent on anything else. That is a recipe for national financial suicide.

This week, there was news that the Social Security system is in much worse shape than previously projected. According to the Congressional Budget Office, this year the Social Security system will pay out more in benefits than it receives in payroll taxes. This was not supposed to happen until at least 2016.

Now it is happening in 2010.

It turns out that the "recession" that we have just been through has hit Social Security revenues really hard.

And unfortunately, as waves of Baby Boomers start retiring, these "Social Security deficits" are going to get even worse.

So where will the money come from to pay the benefits that are owed?

For now, the money will come from the $2.5 trillion Social Security Trust Fund that has been accumulated.

But keep in mind that the $2.5 trillion figure is extremely misleading.

There are not $2.5 trillion dollars sitting around in a bank account somewhere to pay these benefits.

The truth is that the Social Security Trust Fund does not contain any actual assets.

The only assets the Social Security Trust Fund has are IOUs from the U.S. government.

So basically the U.S. government owes the Social Security Trust Fund $2.5 trillion dollars, and now it turns out that the Social Security system is going to start needing that money.

So where will the U.S. government get that money?

Well, they will borrow it of course.

The reality is that the Social Security program is simply not sustainable.


The article goes on in more detail with graphs and the works. This is downright scary. why doesnt the MSM report on this???? i know, theyre too busy counting how many wh0res jesse james has been boinkin... THIS IS FACT people... what are we going to do about this? America is on the way down and in our lifetimes.. what are we going to do? what can we do? I highly suggest you read the entire article and then comment on here. the future looks disturbingly bleak..

______beforeitsnews/story/27728/The_Silent_Entitlements_Monster:_Social_Security,_Medicare_And_Interest_On_The_Debt_Will_Gobble_Up_Every_Single_T ax_Dollar_By_2020.html

[edit on 25-3-2010 by TheCoffinman]




posted on Mar, 25 2010 @ 06:30 PM
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reply to post by TheCoffinman
 


Couldn't they change defense policy from "launch under attack" to "retaliate after ride out"?

Then a big nasty war. Surface dwellers are slaughtered. Elites bunkerize. Those still healthy go to FEMA work Kamps. The sick that need care are put down. The leaders say "Oops, sorry!"


Or maybe there is an earthquake weapon in the hands of some ET. He starts pushing the button.
Massive calamity, total martial law, but most people survive.

Or some semi celestial type pushes the DOOMSDAY button, figures might as well.



posted on Mar, 26 2010 @ 12:41 AM
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reply to post by TheCoffinman
 


"So where will the U.S. government get that money?

Well, they will borrow it of course."

I think those two statements tells it all. How much longer can they continue this borrowing? They borrow everyday just to keep us afloat. Sooner or later, the countries we borrow from, are going to tell us, no more borrowing. We can`t pay back what we have borrowed up to this point as it is.

We can not continue borrowing money at this pace without going under very soon.



posted on Mar, 26 2010 @ 06:36 AM
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By 2020, the current system will undergo massive and likely painful change. It won't be the first time this has happened and won't be the last.

Say hello to states becoming insolvent, our national credit rating diminishing, rationing of humanitarian aid, tent cities, and the National Guard becoming a full time occupation.



posted on Mar, 26 2010 @ 07:43 AM
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But this is their plan. Collapse the current system so the entire country ends up depending on the government. They want control.
Where will they get the money you ask?
FROM US, that's where. The will tax the workers beyond anyone's belief, they are already starting that now. Cap and Trade is next.
I'll tell you one thing, I have been paying freakin into social security for about 30 years now, and when I retire and there's no money left, you can bet I'll sue their a**...THAT'S MY MONEY, I, NOT THEM, EARNED IT. My husband and I have both literally broken our backs with years of hard work, and I'll be damned if they are going to keep stealing from me. I am terrified of the thought of how far they are going to go. They are already trying to make all of us that speak out to look like violent terrorists and the msm is helping them. How can this be when a friend of Obama IS a terrorist that actually bombs buildings, Bill Ayers. They talk about the threats to Congressmen, well there has always been threats to lawmakers, this is NOTHING new, but does anyone mention they made a freakin movie about the assassination of GW Bush, and praised it? Do you think for one moment that they would allow anything even close to that be made about Obama? He** no they wouldn't, they would put those people in prison. I am stunned by the hypocrisy.
You watch, there will be posters on this thread that start calling names and throwing around useless facts, but they will not address the hypocrisy of it all.
What ever happens, we must remain non-violent. We must not lower ourselves to their level, which is what we are being set up to do by them and the media.
I heard recently about something Gandhi said, "Let truth be the anvil, and peace be the hammer" (I think that's right)
I stand with you all. God Bless You, and may God Bless America!!!!!!!!!!

[edit on 26-3-2010 by sickofitall2012]



posted on Mar, 26 2010 @ 07:49 AM
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reply to post by TheCoffinman
 


Where the government will get the money? borrowing?

And taxes my friend, under Democratic governments or presidents we get to pay more taxes

That is coming next, by 2013 taxes will be increased to cover for the new government HCR and many other expenses

Yes America is getting very expensive to maintain while the America tax payer keeps getting gouge at every turn



posted on Mar, 26 2010 @ 07:58 AM
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NO!!!
Say it ain't so! Do you mean to tell me that the current policy of stealing the money from hard-working Americans to pay for entitlement programs is ultimately going to crash??? Who would've thought???


The problem with socialism is that eventually you run out of other people's money. It is a slippery slope that either renders a country impotent or causes it to collapse outright. When the hard-working people realize they're getting screwed to pay for a bunch of people who aren't working, can you guess what happens? The hard-working people STOP working so hard or altogether. This further erodes the tax base and the whole system falls out of balance. It also kills small businesses and forces them to hire fewer people and reduce their output.

Benjamin Franklin said it best when he stated, "When people realize that they can vote themselves money, that will herald the end of the Republic." Guess what folks... people have realized that they can vote themselves money. They did EXACTLY that when they put that asshat Obama in office.



posted on Mar, 26 2010 @ 10:12 AM
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reply to post by TheCoffinman
 


Yes, I hear you loud and clearly, heck, I live on Social Security disability as my only income, and I have seen this coming for many years, sad to say. It all started in 1953, I think, We had reached an Armistice with N. Korea, who wanted repatriations for the damage caused by constant bombardment from the Americans. So, Eisenhower dipped into the Social Security Trust Fund, in itself a violation of Contract, and Trust law. Ever since then, up to now, whenever the government wanted to pay back for what they tore up and blasted apart, Social Security took the hit, the government took real assets out, and left worthless IOUs in their place. Now, the government owes not only us, the Social Security recipients, literally trillions of dollars in the form of 50 years of cost of living raises, but the government also owes the Federal Reserve Bank(s) for the printed money they were supplied with, to run the country's business interests. And then the government owes China, who have been taking US Bonds for many years, not to mention the Japanese, who already own many tracks of American land and assets. It all comes to a head, eventually....how many of you got a credit cards and maxxed it out, unable to pay even the minimum payment back? It's a lot like that.

Our government owes us all more money and Gold than there is in the whole world today.

On TV there are new commercials on the buying and investing in Gold. More that one, there are a few of these. I submit that the US is planning to go back to a Gold Standard soon, and the dollar will then be worthless. What would happen if suddenly, in one day, all real dollars, in all banks, and all cash drawers, suddenly were worthless? What would happen? Anarchy, that's what would happen. A few million people would go off half cocked, so to speak, and would quickly get killed, and have you ever thought, perhaps that is the plan?

Take a good look at what the AMERICAN EMPIRE is doing in other parts of the world, and look wothout those rose colored glasses on.... see the genocide going on in Iraq, in Afghanistan, in Palestine, and many more. Check these links.

Note: Afghanistan produced 8,200 tons of opium last year, enough to make 93% of the world’s heroin supply.

US SPONSORED GENOCIDE IN AFGHANISTAN

Stealing Money, Selling Heroin and Raping Boys -- The Very Dark Side of the Afghan Occupation

“We’re committing genocide in Iraq”

Embargo as genocide? Cuban horror story is less simple than it seems

Death By American Bombing And Other Democide

Native American Genocide Still Haunts United States

Am I anti-American? No! I am just Exposing the crimes against humanity that the EMPIRE known as UNITED STATES, INC. has been doing, behind our backs, and away from cameras, and off the books, so to speak. I am ware of an Evil Empire that rules over us, and the president and Congress tremble in fear when these beings are near, whoever, or whatever, they are. We the People are America, we together are what American principles were built on in the first place. True, our Founding Fathers were all crazy men, very passionate and sometime violent, but they got the job done without any genocide. We need new leaders, our old leaders suck.




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