Hidden U.S. Debt Bombs Affecting National Security
OPS_admin | Mar 19, 2010 | Comments 0
America’s fiscal situation may be much worse than the general public even realizes. Secretary of State Hillary Clinton, has said that the nation’s debt is not only an economic issue, but a national security issue as well.
At nearly $13 trillion, with much of that owned to foreign governments, the national debt is completely unsustainable, however, according to CNNMoney.com, due to budgetary tricks and gimmicks, America’s fiscal situation may be much worse than the general public even realizes.
One of the nation’s biggest expenditures left unaccounted for are the unfunded obligations to Social Security and Medicare. By 2037, the Social Security trust fund, which has been raided numerous times over the years to pay for other programs, is expected to only be able to cover a portion of the promised benefits. That could happen to Medicare as early as 2017.
The cost of losses that government-owned mortgage giants Fannie Mae and Freddie Mac are piling up are not accounted for either. As government-sponsored entities, the federal government is obligated to cover the costs of the companies losses, to a certain point. The nonpartisan Congressional Budget Office has estimated that those losses could total $370 billion by 2020.
Full Story: Hidden U.S. Debt Bombs Affecting National Security | Economy In Crisis.
Filed Under: Economy - Labor
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The oligarchs openly talking about a coup d'état in America?
Multi-millionaire lobbyist Grover Norquist is calling for the impeachment of President Obama. In an interview with the right-wing National Journal - Norquist warned that if President Obama wins re-election and decides to let the Bush tax cuts for the top 2% expire at the end of the year - then Republicans will "have enough votes in the Senate in 2014 to impeach [him]."What does that mean? It means that the super rich in America - and their political operatives like Norquist in Washington, DC - have now compared a tiny tax increase on the wealthy to high crimes and treason - the only Constitutional basis Congress can use to impeach a President. It sounds like the oligarchs are now openly talking about a coup d'état in America.-Thom(Do you think will try it? Tell us here.) -
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" We the corporations" On January 21, 2010, with its ruling in Citizens United v. Federal Election Commission, the Supreme Court ruled that corporations are persons, entitled by the U.S. Constitution to buy elections and run our government. __________
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The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. 
