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Forum Post: Unfunded liability of the Federal government is $87 trillion dollars

Posted 7 years ago on Nov. 28, 2012, 2:53 p.m. EST by TheRazor (-329)
This content is user submitted and not an official statement

The entire net worth of America is $63 trillion.

Of course we can tax our way to a balanced budget. Hilarious.



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[-] 4 points by quantumystic (1710) from Memphis, TN 7 years ago

Great now can we have a real conversation about how we are going to tell the debt holders to fuck off. All of them.

[-] 1 points by geo (2638) from Concord, NC 7 years ago

The US has been in debt since it's inception, except for a small period of about 3 months during Andrew Jackson's Presidency.

Given this, we have never taxed enough to close the gap, i.e., retire the debt... in our entire history minus this one exception.

Now for the past 40 years we have been working under a different form of currency, no longer gold or commodity backed. Do the austerity and fiscal conservatives even understand this monetary system? No. They default back to the thinking of how currency works under a commodity based system.

Taxes do not support federal level spending. Never have, and under our current monetary system... never will.

[-] 0 points by Coyote88 (-24) 7 years ago

No big deal. Relax.

[-] -1 points by highlander (-163) 7 years ago

Spread the tax load. Flat tax rate for everyone. Give everyone a stake in the game. Combine flat tax with a 5 or 10% budget cut, across the board, over a 5-year period. That would be a start

[-] -1 points by RedDragon (-161) 7 years ago

Don't worry, be high (and happy)... the obamacats will fix it. Of course, your dollar will only be worth a nickle (and people will keep trying to sell you gold, literally, at rock bottom prices) but at least you'll have the satisfaction of knowing they didn't rip you off.

So what do they suggest? Taking your home mortgage deduction, raising the social security age 'till ten years after you're dead, and lowering the 80% medicare benefit to 40%. Boner's got some set of balls; they're all "nutz."

[-] -3 points by hchc (3297) from Tampa, FL 7 years ago
[-] -3 points by richardkentgates (3269) 7 years ago

Woe woe woe. That's too much information. You're scaring me.

[-] -3 points by hchc (3297) from Tampa, FL 7 years ago

haha. TheKwanBox is a good site.