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)