Our Real Deficit

[Georgiaboy]

B: Please don't paste entire webpages replete with advertising and extraneous HTML

A url link is welcome, along with a good excerpt that doesn't include commercial advertising..thanks

 

[Willie99]

that good ole unfunded and unrecorded benefit obligation, I've been making that argument for about 25 years now

but anyone who wants to talk about common sense reform is labeled a "selfish, greedy, racist hater of old people and minorities".

the biggest ponzi scheme in the world

 

[pubguy]

that good ole unfunded and unrecorded benefit obligation, I've been making that argument for about 25 years now

but anyone who wants to talk about common sense reform is labeled a "selfish, greedy, racist hater of old people and minorities".

the biggest ponzi scheme in the world

Yep. Remember when the 1994 Republican revolution wanted to slow the growth of spending from like 10% yearly increase to 3% yearly increase and the Dems went on the attack claiming they were gonna starve the elderly and put people out of their homes? Sickening really. Bring our troops home and cut spending everywhere we can IMO.

 

[quantumleap]

WorldNetDaily is the online equivalent of the National Enquirer. I would want to verify anything they post on their web site.

 

[kingbill]

How come none of the republicans (looking at you willie) are posting that lame graph about GDP or whatever it was compared to National debt and say it's nothing. But now that its the other guy spending cash its' the end of the world...

 

[Willie99]

How come none of the republicans (looking at you willie) are posting that lame graph about GDP or whatever it was compared to National debt and say it's nothing. But now that its the other guy spending cash its' the end of the world...

Kingbill, the "unrecorded pension and benefit liability" is not counted as PART OF THE NATIONAL DEBT. It doesn't show up on charts or budgets. It's a hidden pyramid scheme.

I have pointed out this Ponzi scheme since I understood accounting & finance 101. I have been saying we need social security reform for 27 years now, 19 of which we had a Republican President.

Your suggestion that I'm somehow being inconsistent is categorically incorrect.

 

[kingbill]

Kingbill, the "unrecorded pension and benefit liability" is not counted as PART OF THE NATIONAL DEBT. It doesn't show up on charts or budgets. It's a hidden pyramid scheme.

I have pointed out this Ponzi scheme since I understood accounting & finance 101. I have been saying we need social security reform for 27 years now, 19 of which we had a Republican President.

Your suggestion that I'm somehow being inconsistent is categorically incorrect.

MAybe it was MRMJ...someone had a fancy chart saying the debt was insignificant while georgie was spending tonnes o cash

 

[Willie99]

MAybe it was MRMJ...someone had a fancy chart saying the debt was insignificant while georgie was spending tonnes o cash

This thread is actually not an attack on Obama, IMHO. It's about a hidden debt that nobody is talking about. Obama can't be blamed for an unrecorded liability that may be larger than all the wealth on earth.

But people who oppose social security reform, I mean overhaul, are part of the problem now.

 

[kingbill]

This thread is actually not an attack on Obama, IMHO. It's about a hidden debt that nobody is talking about. Obama can't be blamed for an unrecorded liability that may be larger than all the wealth on earth.

But people who oppose social security reform, I mean overhaul, are part of the problem now.

Honetly I don't know how the US System works but in Canada, we contribute to a RRSP or Registered Retirement Savings plan. What ever you put in each year is saved until your retirement. The amount deposited is a tax deduction so it works out nice around tax time, if you are going to owe money, you put a little extra in your RRSP and it drops your total down.

The money is taxable when it is withdrawn. But you wouldn't be taking it out in one lump so it's not too bad.

Also if you are a first time homebuyer you can withdrawal enough for a down payment with out any tax penalties.

We have the Canada Pension plan but anyone who is going to rely on that won't have near enough to survive on when retirement comes around.

 

[tiznow]

Kingbill, the "unrecorded pension and benefit liability" is not counted as PART OF THE NATIONAL DEBT. It doesn't show up on charts or budgets. It's a hidden pyramid scheme.

I have pointed out this Ponzi scheme since I understood accounting & finance 101. I have been saying we need social security reform for 27 years now, 19 of which we had a Republican President.

Your suggestion that I'm somehow being inconsistent is categorically incorrect.

our entire economy is a ponzi scheme @)

at least they make the guilty until proven innocent tax system complicated as hell so you can reap some of the rewards of it

 

[SmallDaddy]

Retirement age should go upto to at least 70 years of age. Minimum

 

[Willie99]

Honetly I don't know how the US System works but in Canada, we contribute to a RRSP or Registered Retirement Savings plan. What ever you put in each year is saved until your retirement. The amount deposited is a tax deduction so it works out nice around tax time, if you are going to owe money, you put a little extra in your RRSP and it drops your total down.

The money is taxable when it is withdrawn. But you wouldn't be taking it out in one lump so it's not too bad.

Also if you are a first time homebuyer you can withdrawal enough for a down payment with out any tax penalties.

We have the Canada Pension plan but anyone who is going to rely on that won't have near enough to survive on when retirement comes around.

You're luck Kingbill, sounds like you have a privatized plan, or a trust fund at the minimum. And people who rely on just Social Security are pretty fucked around here to.