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The Feds are running a $1.3 trillion deficit--and that is growing.
California is running a $36 billion deficit--and that is growing.
Unfunded liabilities (debt)in California is over $300 billion. Social Security is a gigantic mess, along with Medicare, running out of money.
"Im hoping to see a new, nonpartisan coalition bubbling up that will coalesce around the financial devastation being wrought on this country by Democratic and Republican politicians alike. Its hard to overstate the financial problems were facing at the federal, state and local levels. The government has been spending like crazy, running up debt and unfunded retirement liabilities that eventually must be accounted for.
In a 2008 speech (before the Obama spend-a-thon), Federal Reserve Bank of Dallas CEO Richard Fisher took a look at what it would cost for Americans to directly address the unfunded liabilities from Social Security and Medicare: With a total population of 304 million, from infants to the elderly, the per-person payment to the federal treasury would come to $330,000. This comes to $1.3 million per family of four over 25 times the average households income.”
We need a populist revolution. Without one, our financial system will collapse.
More...
California is running a $36 billion deficit--and that is growing.
Unfunded liabilities (debt)in California is over $300 billion. Social Security is a gigantic mess, along with Medicare, running out of money.
"Im hoping to see a new, nonpartisan coalition bubbling up that will coalesce around the financial devastation being wrought on this country by Democratic and Republican politicians alike. Its hard to overstate the financial problems were facing at the federal, state and local levels. The government has been spending like crazy, running up debt and unfunded retirement liabilities that eventually must be accounted for.
In a 2008 speech (before the Obama spend-a-thon), Federal Reserve Bank of Dallas CEO Richard Fisher took a look at what it would cost for Americans to directly address the unfunded liabilities from Social Security and Medicare: With a total population of 304 million, from infants to the elderly, the per-person payment to the federal treasury would come to $330,000. This comes to $1.3 million per family of four over 25 times the average households income.”
We need a populist revolution. Without one, our financial system will collapse.
More...