It’s Only Money
The federal government reported a budget deficit of $666 billion for its 2017 fiscal year, but a new comprehensive accounting published by the U.S. Treasury shows that federal finances deteriorated by $1,157 billion in 2017—a figure 74% worse than the deficit. This thorough accounting is mandated by a federal law that requires the Treasury and White House to produce an annual report on the “overall financial position” of the federal government.
Data from this report also shows that the federal government has amassed $89.9 trillion in debts, liabilities, and unfunded obligations. This amounts to more than $700,000 for every household in the U.S., or 92% of the nation’s private wealth. This includes the combined value of every American’s assets in real estate, corporate stocks, small businesses, bonds, savings accounts, cash, and personal goods like automobiles and furniture.
The Treasury report reveals that the federal government currently owes $7.7 trillion in pensions and other benefits to federal employees and veterans. To pay the present value of these benefits would require an average of $61,000 from every household in the United States. Yet, the vast majority of these liabilities are not reflected in the national debt.
A similar situation exists with Social Security and Medicare. Contrary to popular belief, these programs don’t save worker’s contributions for their retirement. Instead, they are social programs that provide benefits to the aged and disabled mainly by taxing people who are currently working. Hence, Social Security and Medicare are sometimes called “pay-as-you-go” programs.
Social Security’s unfunded obligations amount to $180,000 from every person who currently pays Social Security payroll taxes. Medicare’s unfunded obligations amount to an additional $133,000 from every U.S. resident aged 15 or older.
Build That Wall
On 15 April, two Pakistani Frontier Corps paramilitary soldiers were killed and five were wounded in cross-border exchanges of fire from Afghanistan while they were working on the border fence. The border fence project is intended to cover nearly all 2,500 kms (1,553 miles) of the border between Pakistan and Afghanistan.
The border is a sensitive issue, made worse by Pakistan’s fencing project. Pakistan’s Inter-Services Public Relations office (ISPR) said the Frontier Corps troops were fired on from Afghanistan while they were busy in “routine surveillance along Pak-Afghan border for plugging of gaps and making necessary preparations for starting fencing in that area.”
The Pakistani fence favors Pakistani smugglers. It interferes with Afghan smugglers by cutting their easy access to markets and suppliers in Pakistan’s border regions.
China is contributing to the building of the wall to protect their belt road project in Pakistan. China has another “great wall” that enjoyed considerable success in the past.
Walls work. The Democrats in the US Congress only oppose the US/Mexico Border Wall because it would deny them the votes by illegal aliens voting illegally that is a vital component of their plan for remaining in power in places such as California. (Build the wall; MAGA; lock Her up)
Go ahead and build the wall, and with the NG down there again, have them shoot to kill the invaders. And the ones they deport, put a tattoo on their forehead to show they have been deported before.
Not a cheery though for a Monday morning.
No one seems to care about the massive killer Debtstar.
Maybe it will vanish, by magic.
BUILD THE WALL.
Maybe elves will come in the night and fix the national debt?
I could have posted pictures of bunnies (Playboy) and kittens…
John, you're a man after my own heart.
Not only do I want The WALL, but I want facial recognition drones & hidden motion detector stations, the works. The cost is a drop in the bucket compared to what it will cost if we don't. For now, I'll settle for deportation and no more "catch & release."
What are your thoughts on "anchor babies"?
Build th' dang wall already~! What is it, about the common will of the people of the US, that politicians in Washington don't understand?
Walls Work! MAGA
I guess the Obamanation (A descriptor for someone who ruins your life by robbing your every cent.) managed to increase the debt with 100%, more than any previous President. The US need to build the Wall and restrict immigration to the ones that will add value to the economy. Make sure other NATO countries pay their fair share and invest in what will make America Great again.
Yes, the Obama Years were dismal and we all suffered under the years of Obamanation. While things are improving, there is no plan to deal with the $10 trillion in debt that he saddled the nation with.
The politicians hoping to have illegal aliens vote for them want to keep the border as porous as possible.
Everyone has a wall but us. They need to get started with it, already.
And anyone who can't read the darn ballot, there needs to be a requirement for a conservative to help them do it. I only say this because the commie-libs are bound and determined that these people vote.
How about that, we owe all that money and had no say in Washington amassing that debt. TERM LIMITS!
+1 for Coffeypot.
I'm just hoping there is enough left for me to get my Social Security at least for a little while… Sigh
I think that you'll be able to collect through '24. The fund goes under in '26 if projections hold. I think that changes will be focused on younger people who will begin to collect at age 70 or something like that.
Term limits are good.
Yeas, the elves and the trans faeries. That will solve it.
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