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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: redfrecknj who wrote (46532)	12/3/2005 10:18:05 PM
From: CalculatedRisk	Read Replies (2) of 110194

Hubbard is either stupid or a liar. First, the National Debt: $8,107,952,560,719.68 (over $8 Trillion) publicdebt.treas.gov Second, the unfunded estimated liability for SS is $3.7 Trillion. Hubbard said: "For Social Security it's $11 trillion". That is a lie. Source: GAO gao.gov Third, the two largest fiscal problems are Medicare (Over $20 trillion unfunded) and the General Fund Deficit. Note how Hubbard glossed over the budget deficit - a lie by omission. Side note: Bush added $8.1 Trillion alone to Medicare with his drug plan. Hubbard can't be this stupid ... I think he is just a liar.

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