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Zanibel17 (98.62)

Ross Perot's Quest to Explain the U.S. Debt to the Masses

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June 17, 2008 – Comments (6) | RELATED TICKERS: EDS

I watched the 35-slide report on Perot’s new website dealing with the debt/deficit crisis the U.S. is about to undergo as baby boomers get ready to retire en masse and become recipients of Medicare/Medicaid.  It was very informative and easy to understand.  I recommend it to anyone who wants to understand where our $9 trillion dollar debt comes from.  Here’s a hint:  it’s mostly from funding Social Security and Medicare.

http://perotcharts.com/home/

Here’s what an aquaintance of mine here in Georgia had to say about Perot:

“Ross Perot did one very important thing for all Americans in 1992…he put our nations problems on charts for everyone to see and understand. In 1992 he was opposed to the kind of NAFTA that had not yet been ratified and signed into law that we now have- Mr Global Warming, Al Gore cast the tie breaking vote in the Senate by the way.

NAFTA as many foresaw was to be (and is) the forerunner of the NAU. Though I didn’t always agree with Ross, I did agree with the thoroughness and frankness he took on the fiscal abuse of the Federal Government and it’s undermining of the US industrial manufacturing base and the jobs that went (and they did, didn’t they?) with it.”

-Z

P.S. the NAU is the North American Union, for those who don't know.  I'll save that topic for another post later.

6 Comments – Post Your Own

#1) On June 17, 2008 at 6:31 PM, carcassgrinder (42.28) wrote:

Unfortuately.....almost every post on this board is related to the NAU and ultimately the NWO.  There is not an issue that we face today that isn't related to the steadfast pursuance of the NWO.  But..that's all conspiracy theorist stuff...right?  Ya....right.

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#2) On June 17, 2008 at 6:52 PM, Imperial1964 (97.91) wrote:

The current $9T debt isn't from funding Social Security and Medicare.  Either I'm misreading you or you're misreading the chart.

The Social Security and Medicare programs are generating surplus revenue--that is, more money is coming in than is paid out.  So the government is spending this extra money on other things, promising to pay it back later.

Therefore, the $5T is the actual net debt, but there is an additional $4T in IOUs to SS & Medicare.  The problem is that in the next few years, SS & Medicare will switch from a large surplus to a large  defecit as baby boomers retire, meaning these IOUs will have to be paid back.

So, the $9T of total debt was enabled by a Social Security (and Medicare) surplus, not caused by a Social Security defecit.

In the near future this situation will reverse entirely and the government will not only have to make up for the money not coming in from a Social Security surplus, but it will also have to start paying those IOUs back. 

 

This is one of the primary reasons I put my retirement money in a Roth 401k and Roth IRA.  It is painfully clear that taxes must rise significantly in the future.

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#3) On June 17, 2008 at 6:56 PM, Imperial1964 (97.91) wrote:

I forgot to mention that this is also one of the reason I'm bearish on long-term Treasury bonds.

And those are very informative slides.

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#4) On June 17, 2008 at 7:39 PM, abitare (99.70) wrote:

Ron Paul Debate Response Cut from Faux News Re-air

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#5) On June 17, 2008 at 11:06 PM, Zanibel17 (98.62) wrote:

Imperial, is right. The way my post is typed inverts what Perot's charts are saying.  So, kudos to Imperial for keeping me straight.

My point was that Perot's slide presentation clearly shows that we have spent the gobs and gobs money collected for Soc Sec and Medicare on things other than Soc Sec and Medicare and that we will be in trouble shortly because we will have to pay back what we have been "borrowing" from those funds all these years in order to pay for our military, education, roads, etc.

My favorite statistic from the slide show was that the ratio of workers to retired Social Security recipients was 44:1 when the program was started.  I wonder if those responsible for implementing Social Security had projected those numbers to hold throughout the life of the program.

@carcass grinder:  I'm reviewing the list of attendees to the June meeting of the Bilderberger Group who, according to their press release, are "just" an international group of politicians and businessmen and that the level of super-secrecy surrounding their meeting is so that they can talk candidly "off the record" about their personal views.   The honorary chair this year was Etienne Davignon, who was Nominated for advising EU Development Commissioner Louis Michel about African development issues, even though he sits on the board of directors for Suez – a transnational corporation looking to expand its energy and water business into Africa.

Thanks to abitarecatania for the great Ron Paul links.  Everyone should join the campaignforliberty.org.

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#6) On June 18, 2008 at 7:50 AM, carcassgrinder (42.28) wrote:

That is exactly what scares me....their ability to "talk"(plan) off the record.  I really don't mind "international brainstorming" or even the idea of an allied world.  But the lack of transparency with these groups speaks for itself.

The agenda list is aggresive.  I fear that pooling resources to address humanity and regional needs is not what is being discussed. 

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