$80 Trillion In Unfunded Liabilities The True Noose Around Our Necks

[Wehrwolfen]

Economic collapse does not only effect the United States alone but also the world economy as a whole​

$80 Trillion In Unfunded Liabilities The True Noose Around Our Necks​

By: Robert Rohlfing
December 1, 2012

We hear all about the $16 Trillion dollars in debt that our country is in, but the much larger problem and the one that our politicians and citizens do not want to talk about honestly is the $80 Trillion Dollars in Unfunded Liabilities at the federal level.

We all know about how the states and local governments are being swamped by these obligations, but we cannot even have an honest discussion about the true nature of the long term problems that we face because for one reason or another it always turns into a Left - vs -Right you-are-wrong-and-stupid argument. We have those in congress such as Dick Durbin and Chuck Schumer who will not even let this be discussed in all the negotiations that we currently hear about going on with the debt crisis that this government created. It is easy to understand that they do not want to do so as it exposes the blatant mistakes that those in government have made over the years and this includes those from both sides. They are well aware of the true nature of the fact that if we do not address this head on and across the board that we are only just kicking the can down the road further. Eventually that can comes to rest and what you get is an economic collapse.

The hard thing to understand is that the economic collapse does not only effect the United States alone but also the world economy as a whole. There are different ways that people think that we can start climbing out of this from raising taxes to creating the mechanisms for inflation to increase. All of these things sadly are going to occur regardless under the current path that we seem to be going down. We hear so much about raising the taxes on the upper percent, but what so many fail to understand is that we are obligated to around $7 Trillion dollars a year on average just to cover our obligations from pensions to Medicare and Social Security and that is just going up as the baby boomer generation hits full stride in retiring. Raising taxes is not the only way to get out of this problem long term, we have to reduce our obligation to these liabilities and reduce the coverage over all in the end. It will not happen today because no one in politics has the guts to do so because they are all too worried about getting reelected, but at some point economics catches up to politics and we are on the verge of crossing the Rubicon now and in the near future.

On raising taxes we have all heard that even if you increased the rates on the top 2% you will only be able to fund the running of our federal government for an estimated 19 days, so let’s be honest about this and understand that everyone really need so called skin in the game and that includes those in the middle and lower income levels. That is truly the political football right now that no one honestly wants to take on. Either way it is coming that taxes in one form or another are going to increase on theses income levels as well, so, people, it is time to stop playing the class warfare game, all that does is further divide people. The government could raise taxes 100% on those making $66,000 and up and still not cover the unfunded obligations, that is something that we have to understand!

The petty games that we have allowed the politicians and pundits from both side have used to divide us has only allowed for the fact that we cannot have honest and constructive discussions about these very real and looming problems that are facing us. We have allowed them to pit us against one another so that we attack personal character over differences in political and financial leanings, but has it allowed one bit of honest debate or has it only allowed for us to become more spiteful? I think it really is the later as I visit the political forums or talk to folks in the public. You can go back in history and see that this has been used in the past, but will we ever learn from those mistakes or will we only allow for it to control us in the end?

[excerpt]

Read more:
$80 Trillion In Unfunded Liabilities The True Noose Around Our Necks

 

[ABikerSailor]

Canadian Free Press is your source? Really? Even though in the style of writing it has shown to have a definite conservative slant?

 

[Lakhota]

Canada Free Press? Holy shit...

 

[rdean]

Republicans think it's cheaper if old people just die. But they don't believe in "euthanasia". They want them to suffer long and hard first. That's why they have "death panels".

Patient Cut From Transplant List Dies: Arizona's Death Panel? - HealthPop - CBS News

http://www.azcentral.com/arizonarepublic/news/articles/2010/12/09/20101209Montini1209.html

Two More Arizonians Join Jan Brewer's Death Panel

 

[OKTexas]

Acutally if you just do a quick search, 80 trillion is on the low end, some estimates go as high as 238 trillion. From what I've read it's more than likely around 140 trillion. But what's tens of trillions here or there, there's no way to pay for it.

 

[Charles_Main]

Economic collapse does not only effect the United States alone but also the world economy as a whole​

$80 Trillion In Unfunded Liabilities The True Noose Around Our Necks​

By: Robert Rohlfing
December 1, 2012

We hear all about the $16 Trillion dollars in debt that our country is in, but the much larger problem and the one that our politicians and citizens do not want to talk about honestly is the $80 Trillion Dollars in Unfunded Liabilities at the federal level.

We all know about how the states and local governments are being swamped by these obligations, but we cannot even have an honest discussion about the true nature of the long term problems that we face because for one reason or another it always turns into a Left - vs -Right you-are-wrong-and-stupid argument. We have those in congress such as Dick Durbin and Chuck Schumer who will not even let this be discussed in all the negotiations that we currently hear about going on with the debt crisis that this government created. It is easy to understand that they do not want to do so as it exposes the blatant mistakes that those in government have made over the years and this includes those from both sides. They are well aware of the true nature of the fact that if we do not address this head on and across the board that we are only just kicking the can down the road further. Eventually that can comes to rest and what you get is an economic collapse.

The hard thing to understand is that the economic collapse does not only effect the United States alone but also the world economy as a whole. There are different ways that people think that we can start climbing out of this from raising taxes to creating the mechanisms for inflation to increase. All of these things sadly are going to occur regardless under the current path that we seem to be going down. We hear so much about raising the taxes on the upper percent, but what so many fail to understand is that we are obligated to around $7 Trillion dollars a year on average just to cover our obligations from pensions to Medicare and Social Security and that is just going up as the baby boomer generation hits full stride in retiring. Raising taxes is not the only way to get out of this problem long term, we have to reduce our obligation to these liabilities and reduce the coverage over all in the end. It will not happen today because no one in politics has the guts to do so because they are all too worried about getting reelected, but at some point economics catches up to politics and we are on the verge of crossing the Rubicon now and in the near future.

On raising taxes we have all heard that even if you increased the rates on the top 2% you will only be able to fund the running of our federal government for an estimated 19 days, so let’s be honest about this and understand that everyone really need so called skin in the game and that includes those in the middle and lower income levels. That is truly the political football right now that no one honestly wants to take on. Either way it is coming that taxes in one form or another are going to increase on theses income levels as well, so, people, it is time to stop playing the class warfare game, all that does is further divide people. The government could raise taxes 100% on those making $66,000 and up and still not cover the unfunded obligations, that is something that we have to understand!

The petty games that we have allowed the politicians and pundits from both side have used to divide us has only allowed for the fact that we cannot have honest and constructive discussions about these very real and looming problems that are facing us. We have allowed them to pit us against one another so that we attack personal character over differences in political and financial leanings, but has it allowed one bit of honest debate or has it only allowed for us to become more spiteful? I think it really is the later as I visit the political forums or talk to folks in the public. You can go back in history and see that this has been used in the past, but will we ever learn from those mistakes or will we only allow for it to control us in the end?

[excerpt]

Read more:
$80 Trillion In Unfunded Liabilities The True Noose Around Our Necks

It's actually probably more like 90 Trillion in state unfunded liabilities alone. And all DC does is encourage states and Cities even to continue to live beyond their means with Bail outs, and unfunded Mandates.

I really don't think we can fix this.

 

[Charles_Main]

Canadian Free Press is your source? Really? Even though in the style of writing it has shown to have a definite conservative slant?

Is that all you really have, the source is to conservative? The 80 Trillion figure is a very low estimate.

 

[ABikerSailor]

Canadian Free Press is your source? Really? Even though in the style of writing it has shown to have a definite conservative slant?

Is that all you really have, the source is to conservative? The 80 Trillion figure is a very low estimate.

Actually, I was wondering why Canada (remember...........the website is called the Canadian Free Press) was such a good source for what is going on in this country?

Remember.......................they have a different government, a different lifestyle (and therefore a different view) than most Americans.

 

[LoneLaugher]

If one of you nutters can explain why SS and Medicare are considered unfunded liabilities looking 75 years into the future.......and our defense spending is not, I will entertain further discussion on this matter.

 

[USNavyVet]

If one of you nutters can explain why SS and Medicare are considered unfunded liabilities looking 75 years into the future.......and our defense spending is not, I will entertain further discussion on this matter.

If it has to be explained to you then why would anyone care for your inut on the discussion?

 

[LoneLaugher]

If one of you nutters can explain why SS and Medicare are considered unfunded liabilities looking 75 years into the future.......and our defense spending is not, I will entertain further discussion on this matter.

If it has to be explained to you then why would anyone care for your inut on the discussion?

I guess it won't be you, then. Will you admit now that you have no idea what you are talking about?

 

[uscitizen]

Canadian Free Press is your source? Really? Even though in the style of writing it has shown to have a definite conservative slant?

Is that all you really have, the source is to conservative? The 80 Trillion figure is a very low estimate.

Actually, I was wondering why Canada (remember...........the website is called the Canadian Free Press) was such a good source for what is going on in this country?

Remember.......................they have a different government, a different lifestyle (and therefore a different view) than most Americans.

yeah they appear to have a smarter view overall.

 

[PredFan]

Economic collapse does not only effect the United States alone but also the world economy as a whole​

$80 Trillion In Unfunded Liabilities The True Noose Around Our Necks​

By: Robert Rohlfing
December 1, 2012

We hear all about the $16 Trillion dollars in debt that our country is in, but the much larger problem and the one that our politicians and citizens do not want to talk about honestly is the $80 Trillion Dollars in Unfunded Liabilities at the federal level.

We all know about how the states and local governments are being swamped by these obligations, but we cannot even have an honest discussion about the true nature of the long term problems that we face because for one reason or another it always turns into a Left - vs -Right you-are-wrong-and-stupid argument. We have those in congress such as Dick Durbin and Chuck Schumer who will not even let this be discussed in all the negotiations that we currently hear about going on with the debt crisis that this government created. It is easy to understand that they do not want to do so as it exposes the blatant mistakes that those in government have made over the years and this includes those from both sides. They are well aware of the true nature of the fact that if we do not address this head on and across the board that we are only just kicking the can down the road further. Eventually that can comes to rest and what you get is an economic collapse.

The hard thing to understand is that the economic collapse does not only effect the United States alone but also the world economy as a whole. There are different ways that people think that we can start climbing out of this from raising taxes to creating the mechanisms for inflation to increase. All of these things sadly are going to occur regardless under the current path that we seem to be going down. We hear so much about raising the taxes on the upper percent, but what so many fail to understand is that we are obligated to around $7 Trillion dollars a year on average just to cover our obligations from pensions to Medicare and Social Security and that is just going up as the baby boomer generation hits full stride in retiring. Raising taxes is not the only way to get out of this problem long term, we have to reduce our obligation to these liabilities and reduce the coverage over all in the end. It will not happen today because no one in politics has the guts to do so because they are all too worried about getting reelected, but at some point economics catches up to politics and we are on the verge of crossing the Rubicon now and in the near future.

On raising taxes we have all heard that even if you increased the rates on the top 2% you will only be able to fund the running of our federal government for an estimated 19 days, so let’s be honest about this and understand that everyone really need so called skin in the game and that includes those in the middle and lower income levels. That is truly the political football right now that no one honestly wants to take on. Either way it is coming that taxes in one form or another are going to increase on theses income levels as well, so, people, it is time to stop playing the class warfare game, all that does is further divide people. The government could raise taxes 100% on those making $66,000 and up and still not cover the unfunded obligations, that is something that we have to understand!

The petty games that we have allowed the politicians and pundits from both side have used to divide us has only allowed for the fact that we cannot have honest and constructive discussions about these very real and looming problems that are facing us. We have allowed them to pit us against one another so that we attack personal character over differences in political and financial leanings, but has it allowed one bit of honest debate or has it only allowed for us to become more spiteful? I think it really is the later as I visit the political forums or talk to folks in the public. You can go back in history and see that this has been used in the past, but will we ever learn from those mistakes or will we only allow for it to control us in the end?

[excerpt]

Read more:
$80 Trillion In Unfunded Liabilities The True Noose Around Our Necks

Like I said in my thread on this, the so-called fiscal cliff is like stepping off a curb compared to what's coming.

 

[Mac1958]

.

I've heard it's anywhere from $60T to $90T. Regardless of the number, our debt is going to continue to drag down our standard of living. The only question is how far we're going to go.

Cox and Archer: Why $16 Trillion Only Hints at the True U.S. Debt - WSJ.com

From the piece: Why haven't Americans heard about the titanic $86.8 trillion liability from these programs? One reason: The actual figures do not appear in black and white on any balance sheet. But it is possible to discover them. Included in the annual Medicare Trustees' report are separate actuarial estimates of the unfunded liability for Medicare Part A (the hospital portion), Part B (medical insurance) and Part D (prescription drug coverage).

As of the most recent Trustees' report in April, the net present value of the unfunded liability of Medicare was $42.8 trillion. The comparable balance sheet liability for Social Security is $20.5 trillion.

Self-inflicted wound. Too bad.

.

 

[PredFan]

Economic collapse does not only effect the United States alone but also the world economy as a whole​

$80 Trillion In Unfunded Liabilities The True Noose Around Our Necks​

By: Robert Rohlfing
December 1, 2012

We hear all about the $16 Trillion dollars in debt that our country is in, but the much larger problem and the one that our politicians and citizens do not want to talk about honestly is the $80 Trillion Dollars in Unfunded Liabilities at the federal level.

We all know about how the states and local governments are being swamped by these obligations, but we cannot even have an honest discussion about the true nature of the long term problems that we face because for one reason or another it always turns into a Left - vs -Right you-are-wrong-and-stupid argument. We have those in congress such as Dick Durbin and Chuck Schumer who will not even let this be discussed in all the negotiations that we currently hear about going on with the debt crisis that this government created. It is easy to understand that they do not want to do so as it exposes the blatant mistakes that those in government have made over the years and this includes those from both sides. They are well aware of the true nature of the fact that if we do not address this head on and across the board that we are only just kicking the can down the road further. Eventually that can comes to rest and what you get is an economic collapse.

The hard thing to understand is that the economic collapse does not only effect the United States alone but also the world economy as a whole. There are different ways that people think that we can start climbing out of this from raising taxes to creating the mechanisms for inflation to increase. All of these things sadly are going to occur regardless under the current path that we seem to be going down. We hear so much about raising the taxes on the upper percent, but what so many fail to understand is that we are obligated to around $7 Trillion dollars a year on average just to cover our obligations from pensions to Medicare and Social Security and that is just going up as the baby boomer generation hits full stride in retiring. Raising taxes is not the only way to get out of this problem long term, we have to reduce our obligation to these liabilities and reduce the coverage over all in the end. It will not happen today because no one in politics has the guts to do so because they are all too worried about getting reelected, but at some point economics catches up to politics and we are on the verge of crossing the Rubicon now and in the near future.

On raising taxes we have all heard that even if you increased the rates on the top 2% you will only be able to fund the running of our federal government for an estimated 19 days, so let’s be honest about this and understand that everyone really need so called skin in the game and that includes those in the middle and lower income levels. That is truly the political football right now that no one honestly wants to take on. Either way it is coming that taxes in one form or another are going to increase on theses income levels as well, so, people, it is time to stop playing the class warfare game, all that does is further divide people. The government could raise taxes 100% on those making $66,000 and up and still not cover the unfunded obligations, that is something that we have to understand!

The petty games that we have allowed the politicians and pundits from both side have used to divide us has only allowed for the fact that we cannot have honest and constructive discussions about these very real and looming problems that are facing us. We have allowed them to pit us against one another so that we attack personal character over differences in political and financial leanings, but has it allowed one bit of honest debate or has it only allowed for us to become more spiteful? I think it really is the later as I visit the political forums or talk to folks in the public. You can go back in history and see that this has been used in the past, but will we ever learn from those mistakes or will we only allow for it to control us in the end?

[excerpt]

Read more:
$80 Trillion In Unfunded Liabilities The True Noose Around Our Necks

It's actually probably more like 90 Trillion in state unfunded liabilities alone. And all DC does is encourage states and Cities even to continue to live beyond their means with Bail outs, and unfunded Mandates.

I really don't think we can fix this.

The quicker it collapses the quicker we can fix it. Also, obama deserves it to fall apart on his watch. I say the the GOP should give obama everything he wants, let it fall apart while he's infesting the White House.

 

[LoneLaugher]

Isn't the entire discussion of "unfunded liabilities" specious? The calculations that are used to figure these massive numbers make many assumptions......not all of which represent a realistic scenario.

I pose the question again......if we can use today's data to predict the future liabilities from our earned benefits programs......and use them to demand benefits cuts TODAY, why can't we do the same with defense spending? After all, defensE spending is huge.

 

[LoneLaugher]

Economic collapse does not only effect the United States alone but also the world economy as a whole​

$80 Trillion In Unfunded Liabilities The True Noose Around Our Necks​

By: Robert Rohlfing
December 1, 2012

We hear all about the $16 Trillion dollars in debt that our country is in, but the much larger problem and the one that our politicians and citizens do not want to talk about honestly is the $80 Trillion Dollars in Unfunded Liabilities at the federal level.

We all know about how the states and local governments are being swamped by these obligations, but we cannot even have an honest discussion about the true nature of the long term problems that we face because for one reason or another it always turns into a Left - vs -Right you-are-wrong-and-stupid argument. We have those in congress such as Dick Durbin and Chuck Schumer who will not even let this be discussed in all the negotiations that we currently hear about going on with the debt crisis that this government created. It is easy to understand that they do not want to do so as it exposes the blatant mistakes that those in government have made over the years and this includes those from both sides. They are well aware of the true nature of the fact that if we do not address this head on and across the board that we are only just kicking the can down the road further. Eventually that can comes to rest and what you get is an economic collapse.

The hard thing to understand is that the economic collapse does not only effect the United States alone but also the world economy as a whole. There are different ways that people think that we can start climbing out of this from raising taxes to creating the mechanisms for inflation to increase. All of these things sadly are going to occur regardless under the current path that we seem to be going down. We hear so much about raising the taxes on the upper percent, but what so many fail to understand is that we are obligated to around $7 Trillion dollars a year on average just to cover our obligations from pensions to Medicare and Social Security and that is just going up as the baby boomer generation hits full stride in retiring. Raising taxes is not the only way to get out of this problem long term, we have to reduce our obligation to these liabilities and reduce the coverage over all in the end. It will not happen today because no one in politics has the guts to do so because they are all too worried about getting reelected, but at some point economics catches up to politics and we are on the verge of crossing the Rubicon now and in the near future.

On raising taxes we have all heard that even if you increased the rates on the top 2% you will only be able to fund the running of our federal government for an estimated 19 days, so let’s be honest about this and understand that everyone really need so called skin in the game and that includes those in the middle and lower income levels. That is truly the political football right now that no one honestly wants to take on. Either way it is coming that taxes in one form or another are going to increase on theses income levels as well, so, people, it is time to stop playing the class warfare game, all that does is further divide people. The government could raise taxes 100% on those making $66,000 and up and still not cover the unfunded obligations, that is something that we have to understand!

The petty games that we have allowed the politicians and pundits from both side have used to divide us has only allowed for the fact that we cannot have honest and constructive discussions about these very real and looming problems that are facing us. We have allowed them to pit us against one another so that we attack personal character over differences in political and financial leanings, but has it allowed one bit of honest debate or has it only allowed for us to become more spiteful? I think it really is the later as I visit the political forums or talk to folks in the public. You can go back in history and see that this has been used in the past, but will we ever learn from those mistakes or will we only allow for it to control us in the end?

[excerpt]

Read more:
$80 Trillion In Unfunded Liabilities The True Noose Around Our Necks

It's actually probably more like 90 Trillion in state unfunded liabilities alone. And all DC does is encourage states and Cities even to continue to live beyond their means with Bail outs, and unfunded Mandates.

I really don't think we can fix this.

The quicker it collapses the quicker we can fix it. Also, obama deserves it to fall apart on his watch. I say the the GOP should give obama everything he wants, let it fall apart while he's infesting the White House.

Infesting? Like a cockroach?

 

[PredFan]

It's actually probably more like 90 Trillion in state unfunded liabilities alone. And all DC does is encourage states and Cities even to continue to live beyond their means with Bail outs, and unfunded Mandates.

I really don't think we can fix this.

The quicker it collapses the quicker we can fix it. Also, obama deserves it to fall apart on his watch. I say the the GOP should give obama everything he wants, let it fall apart while he's infesting the White House.

Infesting? Like a cockroach?

Bingo, you got it. You get a cookie.