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« Bernanke: "I Wish I Could Just Wave A Magic Wand" | Main | Solar Firms Under Investigation For Stimulus Swindle »
Wednesday
Dec192012

SHOCK: Real National Debt Grows $100 Billion Per Week

David Walker - U.S. Unfunded Liability Increases $100 Billion Per Week 

"It is alarming enough that our federal debt has surpassed $16 trillion.  But we have actually dug a fiscal hole of more than $100 trillion when you consider our unfunded Medicare, Social Security and other retirement obligations.  This amount goes up more than $100 billion a week on autopilot."

The Real National Debt Grew By $6 Trillion Last Year - USA Today

Niall Ferguson - Why Young People Should Welcome Austerity

Another U.S. Regulator Sues J.P. Morgan Over Billions In MBS Fraud

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Other Wall Street House of Morgan Spawns A Web of Scandals - Bloomberg

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Mark Zuckerberg Donates $500 Million to Local Charity

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UPDATE - Who Should Meat Workers Sue Over Pink Slime Label?

 

Photos by William Banzai7...

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Reader Comments (8)

After reading about all the fraud, lies & deception & the BIG CLUB over the last few years I've given up.
Good Bye America. It was good while it lasted.

One of these may cover how some feel.
http://www.goodreads.com/quotes/tag/democracy
Dec 19, 2012 at 5:40 AM | Unregistered CommenterTR
The unfunded liabilities article is bullshit there I said it. Social Security is self funded so how could it be an unfunded liability? It's not they just keep borrowing from it and are now looking for a way to screw the people who paid for it. Social Security cannot tax and it cannot deficit spend unlike our politicians if/when it begins to run out of money benefits would just be reduced. This is nothing more then doublespeak to fool people into believing it is a welfare program and granny hurt you rather then put the blame on the politicians where it belongs for borrowing from the SS Trust Fund. The liberal media is playing right along calling Social Security Aid as if it's a welfare program rather then a program that people pay for them self's.

Majority of Americans have received government aid

http://money.cnn.com/2012/12/18/news/economy/government-entitlement-aid/index.html?iid=HP_LN

Who Pays for Social Security?

http://www.nasi.org/learn/socialsecurity/who-pays

Social Security is not going broke

http://blogs.reuters.com/david-cay-johnston/2012/05/04/social-security-is-not-going-broke/

Is Our Debt Burden Really $100 Trillion?

http://www.theatlantic.com/business/archive/2012/11/is-our-debt-burden-really-100-trillion/265644/

It's shameful that rather then going after the real welfare programs they champion both for the rich and the poor they now want to screw the elderly after already screwing them via the economic collapse of the pension funds and low interest rates.

Obama, Boehner Eye Tweak To CPI That Amounts To Gradual Tax Increase

http://www.forbes.com/sites/beltway/2012/12/18/obama-boehner-eye-tweak-to-cpi-that-amounts-to-gradual-tax-increase/

Is the Government Wrong About Inflation? - It's Actually OVER 5% In 2012

http://www.usnews.com/news/articles/2012/11/15/is-the-government-wrong-about-inflation

Nancy Pelosi Predicts 'Democrats Will Stick With The President' On Fiscal Cliff Deal

http://www.huffingtonpost.com/2012/12/18/nancy-pelosi-fiscal-cliff_n_2324042.html

How You Could Be Affected by Obama's Social Security Plan

http://www.cnbc.com/id/100327656

Not just SS they are coming after either but that is a means to the end

The Great American Retirement Scam: Why The Wealthiest CEO's In America Want To Take Away Your Social Security

http://www.forbes.com/sites/rickungar/2012/11/28/the-great-american-retirement-scam-why-the-wealthiest-ceos-in-america-want-to-take-away-your-social-security/

Corporatism Collusion Fascism call it what ever you like but this explains it

http://dailybail.com/home/hot-links-jamie-dimons-tax-hypocrisy-exposed.html

Why ZIRP may mean zip

http://blogs.reuters.com/david-cay-johnston/2012/08/31/why-zirp-may-mean-zip/

Why Your 401(k) Match Will Get Cut

http://business.time.com/2012/12/13/why-your-401k-match-will-get-cut/

9 Greedy CEOs Trying to Shred the Safety Net While Pigging Out on Corporate Welfare

http://www.nakedcapitalism.com/2012/11/9-greedy-ceos-trying-to-shred-the-safety-net-while-pigging-out-on-corporate-welfare.html

Medicare is another story people do pay into that but not as much as the program is paying out but they are two distinct programs.

Good article here

Quelle Surprise! The Geithner Doctrine Not Only Puts Banks Above the Law, It Also Serves to Excuse Their Bad Behavior

Read more at http://www.nakedcapitalism.com/2012/12/quelle-surprise-the-geithner-doctrine-not-only-puts-banks-above-the-law-it-also-serves-to-excuse-their-bad-behavior.html#Ap6DK6obGmt8wEUx.99
Dec 19, 2012 at 12:07 PM | Unregistered CommenterLadyLiberty
LL

The real unfunded liability problem is in Medicare not social security.
Dec 19, 2012 at 12:20 PM | Registered CommenterDailyBail
not cause of anything a populist did.

if the deal's working with monopoly, the monopolists get the money.

The building behind Carl Sagan freaks me out.

How many Pei - type buildings R there?

It looks like Newhouse/Syracuse and Geisel/ UCSD blended together.
Dec 19, 2012 at 1:34 PM | Unregistered CommenterOh. Umeanmynamehere.
We agree DB they should do something about Medicare but they are dishonest to lump the two programs together and to call Social Security Aid or Welfare. What Republicans are doing WILL turn it into a welfare program they should be ashamed of them self's. Social Security is already mean's tested under the new deal obama wants people who paid the most into it will get hammered again.

Let's Be Honest - Medicare is Insolvent And Doctors Soon Won't Accept It

http://www.forbes.com/sites/scottatlas/2012/12/18/lets-be-honest-medicare-is-insolvent-and-doctors-soon-wont-accept-it/

The Social Security Double Standard

http://www.bloomberg.com/news/2012-12-19/the-social-security-double-standard.html

Republicans About To Fall For A World Class Social Security Bait-And-Switch Con

http://www.forbes.com/sites/lawrencehunter/2012/11/19/republicans-about-to-fall-for-a-world-class-social-security-bait-and-switch-con/
Dec 19, 2012 at 4:41 PM | Unregistered CommenterLadyLiberty
Pelosi is an absolute abomination. Had to listen to her on NPR on the way home and her voice is like finger nails on the chalk board. Just awful. And this is the best we can do.
Dec 19, 2012 at 5:25 PM | Unregistered CommenterSKINFLINT
Dec 19, 2012 at 6:22 PM | Registered CommenterDailyBail
What isn't a conspiracy is when the folks on the news start reporting another person who was carried from the scene for questioning and that the shooter had three guns, not four. That he went in with pistols and had an assault rifle siiting in the back seat of his mothers car. That is what they reported. The story has changed with time, I guess, as time dragged on, but the press is wrong to hype this stuff the way that they have. Shoving microphones into the faces of these children just after being reunited with their parents. Completely reprehensible.
Dec 19, 2012 at 8:51 PM | Unregistered CommenterSKINFLINT

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