Quantcast
Feeds: Email, RSS & Twitter

Get Our Videos By Email

 

8,300 Unique Visitors In The Past Day

 

Powered by Squarespace

 

Search The Archive Of 15,000 Videos

SEARCH THE DAILY BAIL

 

 

Hank Paulson Is A Criminal - Pass It On

"The Federal Reserve Is A Ponzi Scheme"


Get Our Videos By Email

THE FED UNDER FIRE: Must See Clip

Bernanke's Replacement: Happy Hour In Santa Cruz

Must See: National Debt Road Trip

"Of Course We're Not Going To  Payback the Chinese."

Dave Chappelle On White Collar Crime

Carlin: Wall Street Owns Washington

SLIDESHOW - Genius Signs From Irish IMF Protest

SLIDESHOW - Airport Security Cartoons - TSA

Most Recent Comments
Cartoons & Photos
SEARCH
« Eric Dinallo On The Future Of Insurance Regulation (CNBC Video) | Main | AIG Bailout: CEO Edward Liddy Testifies Before House Oversight Committee (CNBC & Youtube Video; May 13) »
Friday
May152009

Congressman Darrell Issa On Social Security, Medicare, and The Financial Crisis Commission (FBN Video)

California Republican Darrell Issa is definitely one of the good guys.  At a minimum, he provides a non-partisan and reasonable voice on financial and bailout issues.  He along with Brad Sherman, Alan Grayson, Mike Capuano, and Ron Paul have been outstanding stewards and deserve special mention regardless of politics.

Issa is a co-sponsor of the House version of the already-passed Senate bill to create an independent commission to study the financial crisis.  As of this moment, the House has still not taken up the measure for vote though it is widely expected to pass once the details are administered.  The discussion at this point is whether to make it fair, with 5 members appointed by each party, or whether Pelosi will politicize the process by giving Democrats more appointed seats on the commission.

Stuart Varney of FBN interviewed Rep. Issa Wednesday and the discussion moves from the details of the financial commission to the future bailouts of Social Security and Medicare.  Issa even calls Social Secuirty a Ponzi, which, though unmistakably true, is a mildly surprising public admission from a pol.  For a quick refresher on our unfunded entitlement liabilities, the Peterson Foundation now calculates that future obligations for Medicare and Social Security have surpassed $40 trillion and are growing at approximately $2.5 TRILLION per year.  And just to be clear for readers, that's $40 trillion worth of future promises with exactly $0 set aside for payment. 

The short interview is after the jump.

 

 

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments (4)

More from Issa on a California bailout. Guess what? Issa is opposed to the bailout. Outstanding.

http://www.cnbc.com/id/15840232?video=1099555845&play=1
May 15, 2009 at 9:11 AM | Registered CommenterDailyBail
Tip to Clusterstock and Blodget.

My Personal Credit Crisis

http://www.nytimes.com/2009/05/17/magazine/17foreclosure-t.html?_r=2&hp=&pagewanted=all
May 15, 2009 at 9:17 AM | Registered CommenterDailyBail
May 15, 2009 at 9:19 AM | Registered CommenterDailyBail
The new accounting or the "old" accounting is the gift that keeps on giving to Wall Street.....OK...move along to the fabulous Q2 numbers in a few weeks!
May 16, 2009 at 7:25 PM | Unregistered CommenterAin't Bullshittin'

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
All HTML will be escaped. Hyperlinks will be created for URLs automatically.