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How To Fund The Government This Year
In a wonderfully straightforward explanation of just what needs to be cut to fund the government from its current D-Day (July 31st) to the end of the year, Professor Antony Davies explains the shocking truth that is our total and utter inability to cut spending in any meaningful way. This comment sums it up perfectly: "We can reduce the federal government to a glorified assisted living facility and we still wouldn't be able to balance the budget."
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Oh look the ponzi scammers just sold some fiat gold future contracts and bought some fiat euros. When does it end!
And the Israel/Iran/asshole America War has not even started. More money out the door that we do not have.....This is turning into a college drinking game, every time ZH shows how we are fucked do a shot, problem is you will be dead from an over dose of booze by the end of the day.
Whimp! Build up a little tolerance - try 1/2 a shot per a 'we're toast' post to start with. Some dude back east got picked up out of a ditch and taken to the hospital with a .552 BA - probably playing the ZH game...
1.Declare bankruptcy.
2. End the Federal Reserve.
3. Issue currency with private banks with 100% gold or silver reserve requirements.
4. Restrict national governments to 11% of the GDP.
Balanced budgets and balanced trade would automatically result due to these reforms. But pass a mandatory balanced budget for the federal government, just in case.
Eliminating the Federal Reserve would level the playing field for the 99%.
To 4. : Did you bring an army with you?
obviously you are well into that drinking game :)
When you stop waiting.
Great approachable info-animation for the sheeple. What these people fail to segway into, are the logical conclusions and the dichotomy that faces us. There are no answers, only outcomes:
1) War (America is now the Battlefield, the next excursion abroad will most certainly result in even fewer liberties, or a re-focus to the "American Battlefield)
2) Continued inflation & loss of capital for every sheeple breathing oxygen.
The sooner people conclude their oberservations (infographics for the sheeple) with these historical outcomes, the sooner that the grave future realizes itself in our social conscious & conscience. We may have one last organic shot at civil non-compliance before it's too late.
Segue: smooth transition from one topic to another
Segway: I think those are the things the fat security guards ride in the malls now.
Just FYI
Miffed :-)
HAH, I do that to people all the time on Yahoo news.
My favorite is
You lose.
your sister is loose
I'm unclear on how you inflate your way out of a deficit. Don't costs inflate with revenue so you just have the same deficit, but with bigger nmbers.
HAHAHAHAHAHAHHAHAHAHAHAHAHA
This is a well planned economy
"How To Fund The Government This Year?"
I'll take "what is a market crash?" for $1 trillion Alex!
More like $9 Trillion -- this year only.
Don't worry Timmy will cover it up. Fraud Fed will do the rest.
END THE FED RACKET!
Convert fiats to tangibles and in engage in barter and this will get "fixed" rather quickly.
But Nobel Prize winner Prof. Krugman says we need to spend more money to fix this debt problem, and VP Biden says we need to go even deeper into debt in order to get out of it. So who am I to believe, ZH or these well educated professionals?
at least we'd still have npr
besides, no way they'll ever "completely rethink the appropriate role of government." and if they did somehow i'm sure that thinking would equate to more of it.
Surely tax increases are our salvation. It's the revenue side ya bigdumbnugly chump!
If a sarc tag is necessary here then I don't want to live on this planet anymore.
i want my
i want my
i want my NPR
and ditto the sarc tags
Oh yeah, that'll go over well. Make the young people pay for the promises they didn't make and give them nothing in return. LOL...
Anyone who thinks this can be fixed without some sort of collapse or violent uprising has their head up their ass.
North Dakota hopes to ban property taxes. Forever. June 12, 2012 vote. If they can do it, we can do it.
http://youtu.be/k2VzCqam0PI
Wow. Thanks for the link. I hadn't heard of this yet.
It's a revolutionary idea that will greatly increase individual liberty, and surely because of this, there are evil bastard statists/parasites that are working feverishly to defeat this measure before it can take root anywhere...
Cool link! I am going to send it to some of my big govenment worshipping friends so their heads will explode.
Longer my sabre is than yours, young jedi.
Isn't North Dakota where the biggest exploration for oil and gas is currently going on? Gee, ban property taxes right when the oil and gas industry is buying up land right and left! Not to mention the littering of pee bottles on the roads leading to these "new industrial, job producing sites" and the rest of the garbage that the sudden influx of folks who don't give a rats ass about the state they are working in, or about the people who are there.
Yep, sounds about right. Then when the boom is over and the new owners (suckers) of the land that is sold by the oil and gas companies AFTER they have sucked it dry, get to watch the legislature pass new legislation to reinsitute the taxes because they are broke.
Sounds about right.
Well, they do have an actual State Bank, with which to issue low-interest loans to reputable enterprises with the ability to pay them back.
Now, if they'd just issue actual money backed by something, they could probably cut off from the Gov't teat completely.
Hilarity and drone-strikes on Bismarck would ensue....
So the younger generations need to keep promises that they never made and can't afford, but the older generations don't have to make any sacrifices?
This was spot on until the last sentence or two......
Well, the government is not going to stop. So, guess what side of that presentation will get screwed?
Baby boomers are gonna take it the ass right along with the rest of us. Sort of ironic how so many of them are the ones still fighting the two party game thinking that the system is functional.
The social security system should just be abolished. Those current collecting should be cut off but paid upto the amount that they put in and with interest. Those not collecting yet, but that will soon, should no longer have to pay in and will also not ever collect. Those far from ever collecting will never collect but will have to still pay up to the amount of those who have already paid but wont collect. That way everyone gets the same fucking.
"So the younger generations need to keep promises that they never made and can't afford, but the older generations don't have to make any sacrifices?"
Spot on (and I suspect Im closer to retirement than you are...but right is right). That's why Jefferson argued for a regular 17 year repudiation of the national debt and argued for a Constitutional amendment to that effect. It is profoundly undemocratic/unfair to bind future generations to a debt in which they had no say, and (w/most of the debt being used to fund transfer pmts) from which future debt payors derive no benefit. It is quite simply a form of intertemporal slavery. The other righteous aspect of TJ's idea is that it helps align the lenders' self-interest with those of the taxpayers.
who should I vote for to become the leader of this Glorified Assisted Living Facility or "the Nation of GALF"?
He makes good points, but I disagree on his statement that we made promises to retirees that must be honored- they made promises to themselves against the future earnings of several generations behind them and essentially took out a lifetime of payday loans against the earnings of their grandkids. They need to take the hit as much as everyone else, it is ridiculous to expect they they can spend their comfortable retirements draining those behind them. I dont care that they thought serial child abuse was a valid economic policy and good planning for retirement, that doesnt make it viable or valid.
+1 Lednbrass, your promises on the labor of my back, and those of my children cannot be enforced. You think I'm going to pay 70 percent taxes to fund your SS? Nope. I'll just reduce my hours, or stop working entirely.
You are still paying in?! 26 months of minimal contribution here. I even took what was mine back over a 99 week span via unenjoyment. The boomers are going to have to find somebody other than me to enslave for their enjoyment.
They are stuck in their house too.
Winner here folks!!! They made promises to themselves with your money. Get it!!!
They could have elected folks to fix this problem a long time ago but the vapor myth and greed was just too much for them. but they did allow our jobs to be shipped overseas ensuring there would be no money to pay for thier vapor myth of blissful retirement on the backs of grandchildren.
They are going to get exactly what they deserve. Very Little I hope.
They, they, they? It's US, we are all in it together. Fighting against each other is part of elite's plan. Don't get sucked in.
Come on collapse you fucker. I have bill collectors and bankers I want to stiff.
Exactly. This is a growing sentiment of many.
If we stopped making promises to future generations, would they have to continue paying into SS and Medicare? If not, wouldn't the promises we've already made bankrupt us all-the-same?
LOL. Yeah, the last few statements of that presentation really fucked it up. Message not lost though.
Rather he should have continued onward with the notion that government will not stop doing any of those things. The solution will have to be screwing the other side of the equation one way or another, with inflation being the most obvious method.
Nuclear weapons come under the dept of energy....Not the pentagon.. Speaking of dept's how about all the ACB ah screw it...
Say, a person is in massive personal debt. They still got one credit card not maxed out with about $5000 left to charge up. They know they are going to default in the near future. Do you think they will not use their last credit card?
I think this must have been produced by the AARP.
Dear cock sucking Ben,
"STOP MAKING PROMISES TO FUTURE GENERATION THAT MATHMATICALLY ITS IMPOSSIBLE FOR US TO KEEP"
+5
Bullshit! If you shut down "government", it needs continual funding still? Bullshit!
The Buck stops here.
My grandparents allowed themselves to be lied to vis-a-vis social welfare programming. Rather than subjecting my children to the burden of paying into a system that will inevitably defraud them, I would rather see it all. burned. down.
Video proves Ron Paul is right. Cut defense & social programs. If you don't do it now, it will come like it did in Greece.
Looks like when the Government can MANDATE buying health insurance they will then MANDATE buying treasuries (for the good of the country you know). Oh, wait.....
Ding! Ding! Ding! Ding!
You hit the nail right on the head. Look at the similarities between healthcare and retirement income. If Obummer wins this mandate, his next fix for SS will be a mandatory 10% of annual wages to be invested in UST. You ought to be down there at the SC right now cause even the judges didn't think of a comparable like yours.
Yup. "Everyone will need healthcare" same as "Everyone will need Retirement income". It's funny how the "smart" people don't bring this up.
"You hit the nail right on the head. Look at the similarities between healthcare and retirement income. If Obummer wins this mandate, his next fix for SS will be a mandatory 10% of annual wages to be invested in UST. You ought to be down there at the SC right now cause even the judges didn't think of a comparable like yours."
Half don't dare mention it, for fear of giving Obama the idea. Half will be suggesting it to him after the next election.
Any body have a good website that shows the deficit by month and when we hit the debt ceiling?
http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm
Not by the month on this site that I can see but couple of charts to show all to 2010. 1982 to the $trillion. To the moon Alice.
01/01/1791 75,463,476.52
07/01/1900 2,136,961,091.67
06/30/1949 252,770,359,860.33
09/30/1982 * 1,142,034,000,000.00
09/30/2000 5,674,178,209,886.86
09/30/2010 13,561,623,030,891.79
http://www.treasurydirect.gov/NP/BPDLogin?application=np
This link will show the last reported daily total, and has a search option to view any date back to 1997
did anyone catch Scott Nations, cnbc guru, talking about gold, ammo and food.
"Gold is not a store of wealth it is a collectable." Fast forward to the end to listen to this idiot. Give this guy a pacifier and some mitton.
http://video.cnbc.com/gallery/?video=3000080385
http://www.youtube.com/watch?v=6pc2k_WGm3U
Why didn't Davies deliver the final coup de gras and default on the National Debt? The interest payment disappears and the "Glorified Nursing Home" is funded to the end of the year.
Let's face it - we're royally fooked - and so is anyone holding Treasuries, dollars or assets denominated in dollars. USA Inc. is bankrupt and its stock is being levitated by hope, prayers and the empty promise to pay out future earnings. Sooner or later, this sucker is going down.
42 years now I have paid into SS & Medicare and for however long the Medicaid bullshit has been in existence. I don't care if they end it all tomorrow if they just give me back my money so I can use it to fund my retirement. Interest would be nice, but just the amount that my employers & I have paid will be sufficient. Cut defense spending in half, end medicaid completely, for seniors on SSI who paid in the requisite quarters send their checks till they croak. No increases on Medicare or SSI via COLA. If you didn't save up for your retirement, tough titty. Privatize all alphabet agencies. If they can't produce anything the citizens are willing to pay for, then they won't exist.
It would also be nice to pass a law that says, if you pass a law it must contain all the verbage that is required. Meaning no agencies spewing out endless regulations, rules & statutes. Said law would require that at least 10 of the other 6 million or so laws, regulations, rules and/or statutes must be abolished and removed from the law books. Only 1 law per bill going through the legislature. No attachments, no pork and no more of this stupid bullshit we see now. We can't afford it, we are broke.
LOL yes, ask the robbers for your thieved funds back. Good luck, with that.
I'll go you one better on new laws - do it Ancient Greek City-State Style(tm):
Any new law must be presented on the floor of the house for a vote, with the bill's sponsors standing there with a garrote around thier necks. If the law is voted down, they get strangled.
Sorry for the bad news, but your SS pmts were spent the moment they were collected. They got off the train years ago and no, you cant have them back because they no longer exist in cash form (only IOUs).
So everything is fine then. Got it! </sarc>
Yep, business as usual.
I thought this was very well done, except for the end suggestion that Medicare and SSI were off limits to trimming back (I'm 72, and yep, gotta take a hit - and I did pay into that sucker for 50 years: 15 (minimum wage carry-out boy at local grocery store) to 65.)
That was the best proposal I've heard yet. Removed all the reasons for terrorism and world destruction. He left the usary which certain God's would have cut first but other than that a job well done.
Good video. Makes a great point. He makes a terrible assumption at the end though. No, we don't need to keep our promises to current retirees/annuitants. The argument of giving the baby boomers what is 'theirs', and fuck future generations MUST die! Why must we sacrifice the future? Is this 'shared sacrifice'? Is this 'fair'? Wake the fuck up!!!
That road they have been kicking the can down has a dead end sign
At the far end of the road is a sign "NO U TURNS"
Actually those calculations are wrong - you cannot do the math that way.
You cannot subtract the whole value of the Military from spending post July when spending of tax dollars prior to that date included it in the rate of spend.
Meaning if the DOD costs 400 billion a year, that is spread throughout the whole year. You cannot say "cut it" and then subtract the whole value after you have spent some money on it for 7 months.
To do the math right, you have to cut those at the beginning of the year, then see how far the 2.2T will get you OR you are undercounting the tax dollars. Or conversely, you cut the proportionate amount post July - the amount that is left for the remainder of the year.
However - I would guess if you cut everything to 0 post July, your tax dollars collected the next year would be significantly shy of 2.2T :)
Dude, you harshed my mellow with logic and reason. Bastard!
Too bad he's dealing with fund accounting instead of personal accounting... meaning, the timing of the fiscal year...
What's the first 2.2t spent on? BS war on drugs? homeland "security"?! Gut those fuckers too!
WITCH!!!
BURN HIM!!
great video, but this is direct ripoff of one of Bill Whittle's Firewall videos. All the same though.. as many ripoffs as it takes to propagate the message I suppose.
Thought for sure he was going finish w/the claim that since we cant balance federal spending by cutting, we need to increase taxes.
Two other curious aspects about this video: (1) it literally begins w/the assumption that transfer payments come first since presumably that's where the first 7 months of tax revenues went (why should that be the case?); (2) it's produced by a front group for the Koch brothers--preservers of the status quo and their own sinecures if ever there were ones. (Still, he got most of it right...)
If interest rates go up to 5% on government debt. we would be paying more for interest alone than for an entire yearly budget from the 80's
He was doing so well until the end.