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Non-Tech : Let's end the national debt.
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To: Zeev Hed who wrote (98)7/29/1999 2:41:00 AM
From: Gersh Avery  Read Replies (1) of 109
 
So then .. there is about $150 billion missing, correct?

OK .. I know .. its not that simple. (nice headline though)

There's this thing called the Social Security Trust Fund. It was set up to keep the federal government from stealing the retirement money from everybody. Yes, all excess cash flows are used to purchase US bonds.

It would be nice to get an idea of the amount of assets that trust fund has in it now ...

Anyway .. the federal government has decided to steal it.

Lets see .. excess cash flows are used to buy bonds .. therefor the federal government now has additional debt, but also has cash .. so now slick Willy (Clinton) sayz he's gonna use part of that money to pay down the national debt ..

Let's see .. let me borrow $20 from you so I can pay you back the $10 that I owe you .. if we do this several years in a row then I'll have you paid off .. sure .. wanna buy an underwater garden 200 miles off the CA coast?

And then .. old slick is gonna use some more of it to save Social Security. That gives a whole new meaning to the word "save."

LG noted to me on the MDA thread that the numbers just didn't add up. The numbers that he was referring to was all the estimated surpluses over the next fifteen years did not add up to the total current debt.

And if this is trust fund money how can they spend it?

The answer to all of the above is that all the elected people in washington already think of the trust fund as being gone, dissolved, dead, kaput and in their grubby little paws. Right off the top, tear up the bonds sittin' in the fund. There goes a nice slab of debt.

This is the biggest heist in the history of humans. It is going on right now. All of washington is doing all of their accounting as if the job is already done.

fifteen percent .. fifteen percent .. FIFTEEN PERCENT

At 5% interest giving up %15 percent of my income how many years would it take before I can withdraw 100% worth of my income every week without touching the principal?

Now .. those are some of the ugly details. I like to keep it simple:

In FY98 the national debt grew by 113 billion. They are telling us that we had a surplus. They are lying to us.

No matter how you add it up, they are lying to us.

Greenspan was being politicly correct when he told the folks that it would be best if the "surplus" was not spent at all. He further elaborated with the comment about nobody really knowing just how much this surplus really is.

FWIW

Gersh
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