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Politics : A US National Health Care System? -- Ignore unavailable to you. Want to Upgrade?


To: Lane3 who wrote (16896)4/15/2010 6:42:16 AM
From: Lane3  Respond to of 42652
 
Euro Zone Government Debt Could Top 100% of GDP

By Nina Koeppen

Government debt in the euro zone may top 100% of gross domestic product in the next few years, and high public-sector borrowing could have “severe consequences” for growth and stability, a key member of the European Central Bank Executive Board warned.

“The euro-area government debt-to-GDP ratio could increase to 100% in the next years–and in some euro-area countries well above that level–if governments do not take strong corrective action,” Juergen Stark said in a research article published Wednesday.

The region’s debt in 2008 stood at almost 70% of GDP, and the ratio could surge to around 88% in 2011, ECB staff projected.

“These fiscal developments are all the more worrying in view of the projected ageing-related spending increases, which constitute a medium to long-term fiscal burden,” Stark wrote in the preface of an ECB Occasional Paper on fiscal policies.

He reiterated that governments in the 16-nation euro bloc must pursue rigorous fiscal consolidation to restore people’s trust in public finances.

“A continuation of high public-sector borrowing without the credible prospect of a return to sustainable public finances could have severe consequences for long-term interest rates, for economic growth, for the stability of the euro area and, therefore, not least for the monetary policy of the European Central Bank,” Stark said.

In an effort to support the struggling banking sector, governments have assumed significant fiscal risks and ECB researchers warned that this could threaten fiscal solvency in the medium-to-long-term.

“The major sources of fiscal risks are possible further capital injections, guarantees to the banking sector which may be called and the increase in the size of governments’ balance sheets,” ECB economist Maria Grazia Attinasi said. “The risk of the government debt ratio rising further cannot be ruled out.”

The decision by governments to support the banking sector has also affected investors’ perception of countries’ creditworthiness.

Attinisi said: “Increased risk aversion toward governments may reduce investors’ willingness to provide long-term funding to sovereign borrowers.”

“This would adversely affect governments’ capacity to issue long-term debt and may impair the sustainability of public finances by way of higher debt servicing costs,” she added.

blogs.wsj.com



To: Lane3 who wrote (16896)4/15/2010 11:31:44 AM
From: John Koligman  Read Replies (3) | Respond to of 42652
 
*OT* According to Slider, Mr. Beck is apparently advocating dropping social security...

John

To: Crimson Ghost who wrote (21529) 4/14/2010 6:28:33 PM
From: SliderOnTheBlack 15 Recommendations of 21548

Glenn Beck says: "give up your Social Security benefits for the good of the country."

re: "I am looking for another crash before long. But this
time the boys will demand that Medicare and Social Security
be shredded or the world will come to an end."
From: Crimson Ghost 4/13/2010 5:16:41 PM

================

Did you see the Glenn Beck show yesterday?

He directly attacked Social Security and I think you
can say he also "shredded it" as well.

This has been coming for a while. Beck has been slowly
selling his viewers on the idea that they are going to
have to "tighten their belts" and make "sacrifices" for
the good of the country, and "their children's future."

Sooner, or later, after roping in his audience, every
Con Man delivers "the turn" and yesterday, we saw Beck
start "the turn."

I've both complimented Beck and his staff for his excellent
research (although many of his major stories were co-opted
from Andrew Breitbart, Trevor Loudon, and Alex Jones), and
warned that the reason he was rescued from the CNN "B-Team"
and immediately elevated to prime-time at Fox, is because
he was assigned the "not so subtle" 912 Project to co-opt
both the 911 Truth movement, and the Ron Paul Tea Party
movement.

And that's exactly what he's done. While Beck hasn't
fooled many of those who quit drinking the Kool-Aid
long ago... what he has done, is co-opt a very large
percentage of those who are just now awakening to
the problems facing America, especially the older
demographics (age 50+) who wouldn't know Bilderberg
from Bordeaux, and who are wandering around aimlessly,
looking for someone to "plug into" and tell them the truth.

And Beck was positioned to be that media figure for
the newly awakened masses "to plug into."

Cutting to the chase, here's Glenn Beck's solution
to America's budgetary crisis:

1. Eliminate all Social Security & Medicare benefits
to everyone under age 54.

2. Those aged 55-62 get 40% of promised Social Security
and Medicare benefits.

3. Those age 62 and over, get 100%.

Imagine someone age 50-54, who has had 15% of his paycheck
withheld under the penalty of law, in what the average
America views as a "mandatory pension plan" for 30-35 years,
and now being told that they get - nothing.

Zero, nada, zilch.

Now I know that the percentage of wages withheld for
Social Security and Medicare has increased over time,
but for a quick "back of the napkin" calculation, let's
use present numbers...

Imagine someone who's average earnings from 1975 to 2010
averaged out to be a very modest $35,000 per year.

Our example American would have earned a total of $1.225 million
dollars over that time frame, and would have had 15% of that
total withheld for Social Security and Medicare, which would
be $1.225 million x 15% = $183,750,00.

So Glenn Beck's 53 year old average American would have
paid in $183k into the Social Security and Medicare system,
and super patriot Beck wants him to get nothing from the
government in return, because Congress looted the lockbox
and gave all the money to the military-industrial complex,
and the bankers.

Now Beck doesn't propose that those under age 54 get a refund
of the $183k they had to pay in under the penalty of law, but
surrender their benefits.

Nope, he proposes that they get - nothing, and just look at
at those 30-35 years of having 15% of their paycheck stolen
by Congress as their patriotic duty.

Excuse my language, but #$&% Glenn Beck and the $20 million
dollar a year salary he rode in on.

Beck, a former coke snorting, light in the loafers,
Jack Daniels guzzling, multiple-addiction self-admitted
alcoholic and former FM Radio "Morning Zoo DJ Buffoon"...

...is no longer delivering the truth, but rather the talking
points of his mentor, and Mormon handler, Big Oil Billionaire
and stalwart Republican John Huntsman.

Has Beck always been nothing more than a Republican shill
in sheep's clothing?

Well Beck did recently say: "I love Dick Cheney."

I have a feeling that 90% of Tea Party supporters
don't quite feel the same way about Mr. Cheney.

And after ambushing Tea Party candidate Debra Media, Beck said
that he felt like "french kissing" Texas, Republican Governor
Rick Perry," a former Bilderberg golden boy, who failed his
task in closing the deal on the NAFTA superhighway.

And let's not forget, this is the same Glenn Beck who has
trashed Ron Paul, his supporters, and said that 911 Truthers
are traitors who should be shot.

I guess that would include the majority of the 911 Commission
itself, 75% of the families of the 911 victims and first
responders, along with former FBI Director Louis Freeh,
and numerous members of the military and intelligence
community who have expressed the need for a 2nd investigation
of 911.

Can you imagine anyone who truly supports the people,
and who is trying to reign in looting and pillaging
of the US Treasury by Congress, telling everyone under
age 54 they have to just wave - bye bye, to the 15%
of their paycheck they've had to pay the government
under the penalty of law for the last 30-35 years?

In today's economy, unless you are a white collared,
degreed professional in a high demand profession such
as a doctor, or a bankruptcy attorney; if your job get's
offshored you not only face a 50:50 chance of running
out of unemployment benefits before finding a job, but
your job choices will probably be between being a greeter
at WalMart, or a part-time, early bird worker for Mickey D's.

Sadly, age discrimination in America begins at age 50.

And God forbid if you are a White, Anglo-Saxon, Protestant
Male, over age 50. Not only are you Beezlebubb reincarnate,
but you are virtually unemployable in this economy, just ask
any HR manager.

And Beck want's to take "all" of their Social Security benefits away.

Finally the veil has been lifted and Glenn Beck has shown his
true colors... that of just another Republican shill, who wants
the average American to get "stiffed" on Social Security and
Medicare, so the Billionaire Boys Club doesn't have their
taxes raised.

What would our founding fathers have to say about Mr. Beck now?

SOTB



To: Lane3 who wrote (16896)4/15/2010 12:54:04 PM
From: RetiredNow  Read Replies (3) | Respond to of 42652
 
Sure. That makes sense to me. However, we know that the GOP loves their wars and they also love providing all the security the oil companies need to secure our oil supplies all over the world. Currently, 59% of the Federal Government's discretionary budget is being spent on the military, or $700B a year on military, with another $100B a year going to the wars in Iraq and Afghanistan.

So if you have to choose between a party that spends our money on enriching the oil companies and on wars to secure the oil, or the other party that likes to spend money on American entitlements, which do you choose? In this country, those are your only choices. I'll choose the Entitlement any day over wars and oil addiction. At least I get something out of an Entitlement. I get nothing from wars and oil except other groups of people hating us so much for our meddling overseas that they want to kill us. Thanks but no thanks.