The Trust Fund Con

by David Walker in The Daily Reckoning

Social Security is in trouble. According to the Social Security Trustees Report, the Social Security program was in a $7.7 trillion hole as of January 1, 2009. That means Washington would have needed $7.7 trillion on that date, invested at prevailing rates, to deliver for the next seventy-five-years on the promises that the federal government has made. But we actually need much more than that to keep Social Security healthy, because it will experience larger and larger deficits both in the near future and beyond the seventy-five-year accounting horizon.

As of January 1, 2009, that number – the amount we would need to invest to ensure the sustainability of the program for seventy-five years and beyond – was $15.1 trillion. How much of this huge sum do we have invested in real liquid and transferable assets today – that is, how much in actual money? Zero, zip, cero, nada, nothing!

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The Healthcare Budget Gimmicks...

Paul Ryan from Wisconsin lays it all out. Unaffordable healthcare, hidden costs, the voice of the people...

Bye-bye Barrycare! Put a fork in it.

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Reagan Weighed In On Socialized Healthcare

Emotions are flying hot and heavy on this subject. Ronald Reagan explains the relationship between freedom and government control of healthcare...50 years ago! And his input is more valid today than ever!

"From here, it's a short step to all the rest of socialism," Reagan said.

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Why Are We Not Drilling?

Our own USGS says we have 48 Billion Barrels of Recoverable Oil within the borders of the United States and Alaska. That's more than 180 years of future domestic oil consumption based upon our current inefficient pace. We wouldn't need to import one shiny drop of oil from foreign lands. And, What are the chances that cleaner, cost effective alternative energy sources will develop dramatically within that 180+ years?

"We need jobs," is the current mantra. Why are we not feverishly hiring, drilling, producing, refining, packaging, transporting, and selling with this birthright? You want jobs? Who is standing in the way and stubbornly encumbering us to foreign debt and eventual economic servitude? With an economy on the ropes, and unemployment rising, why are we not pursuing these domestic resources?

Who's in charge here? Or, rather, what exactly is their agenda?

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Reality? What's Reality? NY Post Weighs In

After months of swearing that his health legislation would lower the skyrocketing costs of insurance premiums, Obama finally confessed that actually it would not.

The New York Post and Charles Hurt weigh in on controversy and the Lucianne.com threads light up! Love it.

Great commentary.

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Tribute to US/Canada relations

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An excellent tribute to US/Canada relations from a historical and modern perspective.

Could housing be getting ready to get well?

GALLAND: No one has been more right on the housing market in recent years than real estate entrepreneur Andy Miller. So, what’s coming next? Some of the housing numbers in the last few months look a little less ugly. Could housing be getting ready to get well?

MILLER: I don’t think so.

For all intents and purposes, the United States home mortgage market has been nationalized without anybody noticing. Last September, reportedly over 95% of all new loans for single-family homes in the US were made with federal assistance, either through Fannie Mae and the implied guarantee, or Freddie Mac, or through the FHA.

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Cut the Flowery Fluff!

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The billboards are real!

The billboards longing for the days of W are for real and have been sighted in Wyoming, MN, and outside Lafayette, LA.

Love you, W! Always will.


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Deficit imperils U.S.'s top credit rating

Is our political-governmental system broken or is there something I can individually do to raise Congressional awareness to this REALITY?!


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