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Free World Order
tagged & banned
Joined: 18 Apr 2006
Posts: 2013
Location: Totalitarian EU |
Corrupt Federal US Government $59 Trillion down!
 Tue May 29, 2007 10:35 pm
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Taxpayers on the hook for $59 trillion
By Dennis Cauchon, USA TODAY
The federal government recorded a $1.3 trillion loss last year — far more than the official $248 billion deficit — when corporate-style accounting standards are used, a USA TODAY analysis shows.
The loss reflects a continued deterioration in the finances of Social Security and government retirement programs for civil servants and military personnel. The loss — equal to $11,434 per household — is more than Americans paid in income taxes in 2006.
"We're on an unsustainable path and doing a great disservice to future generations," says Chris Chocola, a former Republican member of Congress from Indiana and corporate chief executive who is pushing for more accurate federal accounting.
Modern accounting requires that corporations, state governments and local governments count expenses immediately when a transaction occurs, even if the payment will be made later.
The federal government does not follow the rule, so promises for Social Security and Medicare don't show up when the government reports its financial condition.
Bottom line: Taxpayers are now on the hook for a record $59.1 trillion in liabilities, a 2.3% increase from 2006. That amount is equal to $516,348 for every U.S. household. By comparison, U.S. households owe an average of $112,043 for mortgages, car loans, credit cards and all other debt combined.
Unfunded promises made for Medicare, Social Security and federal retirement programs account for 85% of taxpayer liabilities. State and local government retirement plans account for much of the rest.
This hidden debt is the amount taxpayers would have to pay immediately to cover government's financial obligations. Like a mortgage, it will cost more to repay the debt over time. Every U.S. household would have to pay about $31,000 a year to do so in 75 years.
The Financial Accounting Standards Advisory Board, which sets federal accounting standards, is considering requiring the government to adopt accounting rules similar to those for corporations. The change would move Social Security and Medicare onto the government's income statement and balance sheet, instead of keeping them separate.
The White House and the Congressional Budget Office oppose the change, arguing that the programs are not true liabilities because government can cancel or cut them.
Chad Stone, chief economist at the liberal Center on Budget and Policy Priorities, says it can be misleading to focus on the government's unfunded liabilities because Medicare's financial problems overwhelm the analysis.
"There is a shortfall in Medicare and Medicaid that is potentially explosive, but that is related to overall trends in health care spending," he says.
http://www.usatoday.com/news/washington/2007-05-28-federal-budget_N.htm?csp=34
US CORPORATION: ERR, I MEANT US FEDERAL GOVERNMENT CORRUPT? INCOMPETENT? OR JUST OWNED BY FOREIGN BANKS FROM GERMANY AND ENGLAND?....
EUROPEAN UNION UNITED NATIONS STYLE OF ECONOMIC ACCOUNTING = NO AUDITS AT ALL OR FINANCIAL AUDITS NEVER ADD UP AND ALWAYS MISSING BILLIONS OR TRILLIONS EACH YEAR!!!
WHEN INDIVIDUALS DO NOT AUDIT THEIR FINANCES OR PAY TAX THEY GO TO JAIL FOR FRAUD! WHEN GOVERNMENT/CORPORATISED PRIVATE POWER DOES IT THEY GET AWAY WITH IT NO MATTER WHAT. THE ONES BEHIND IT ARE THE ELITE FAMILIES THE FED GOV'T PRAISES ON THEIR WEBSITES.
How long will these artificial economies work for? What will prop them up....
Are Americans thinking about where new taxes will go to when they have full fledged North American Union? Every EU state pays taxes to a central bank in Germany. The UK alone pays around £120m a day but there is much more than that in other costs that all goes to the EU bank. Before we had the EU we had no VAT. Back then people seemed to be able to earn a full decent wage paying for the whole household from one income now at least two have to hold full time jobs on average wage or they face hardship unless they are very successful and rich. And of course before the EU food was so much more affordable and life was better in general, of course a lot of people will disagree (memory hole syndrome) but LOOK at the EURO when those EU states accepted it their costs skyrocketed by 80% in each EU country that accepted the EURO currency.
World government banking institutions want to bleed us dry in every way possible and make us so poor we are slaves. So you better get super rich or face some problem in the future, even still the future is uncertain, things are getting so crazy, purposely everything is being mismanaged and the corporations can take the blame and full profit in the process.
America once never had to pay income tax but now look, imagine what it will be like when the NAU is in full power with new constitution, laws, taxes. I know America currently illegally and unecessarily pays tax on all forms of income which is illegal under US constitution.
If you guys accept the Neu Europe or NAU then you are doomed, there will never be a way of escaping or becoming independent sovereign state ever again, and worse still for the rest of the world, every continent will be part of world government. As we know China and Russia are also well on their way what with becoming part of the UN WTO' etc. It is all done and passed by trade, economic agreements then politics taking over control by laws and constitution eventually leading to world government and no freedom, just as Hitler planned in his own documents. Greater Germany is growing rapidly. Who will resist? Very clever because WW2 failed now we have peace in the EU world government system so will America and rest of world, right? People love it, fun has barely begun yet, plan is going accordingly well so far.
Links:
http://www.washingtonpost.com/wp-dyn/articles/A56534-2005Apr15.html
http://www.wealth4freedom.com/truth/B4theincometax.htm
America's first income tax was sold to the citizens as a temporary necessity
Rothschilds (Hitler was same bloodline) style banking or Roman style of banking - Central Banking
EU Bank
http://en.wikipedia.org/wiki/European_Central_Bank
http://www.ecb.int/home/html/index.en.html
_________________
http://home.comcast.net/~plutarch/PoliceState.html
Disclaimer: all my posts are thought crimes and only IMO in the police state we all live in...
http://www.europeantruth.co.uk/index1.html UK is history, USA to RESIST?
http://www.freedom-force.org
Last edited by Free World Order on Thu May 31, 2007 12:40 am; edited 1 time in total |
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raze78
Joined: 20 Feb 2006
Posts: 526
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Wed May 30, 2007 7:41 pm
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I was talkin to this old black fella on the bus the other day. He told me that a laborers wage in the sixties and seventies were around £20. The rent was £2.34. Imagine that..... the rent was no more than 15% of wages. Now its almost half if not more. Add council tax and VAT on food and other items...wots left? Slavery!
Imagine that the American government once existed solely on import taxeS!!!!! Now they want everything...
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"Hikow mamtaqiym wkulow mahamadiym zeh dowdiy wzeh ree`iy bnowt yruushaalaaim."
Song of Solomon 5:16, Hebrew original. |
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perverted_introvert
Joined: 06 Jun 2006
Posts: 2006
Location: Chicago |
| Debt
Wed May 30, 2007 11:04 pm
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I heard the National Debt compared to jumping off of a 20 story building, and when you hit the 10th story, you say, "gee, nothing bad has happened yet, how bad could it be?"
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“To the last, I grapple with thee; From Hell's heart, I stab at thee; For hate's sake, I spit my last breath at thee” |
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perverted_introvert
Joined: 06 Jun 2006
Posts: 2006
Location: Chicago |
| Yep
Thu May 31, 2007 12:34 am
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The American housing economy has been crippled. Hard times for us architects. It's no wonder.... I am not being racist here, just stating facts.
Here in Chicago, it is not uncommon for 2 or 3 immigrant families to live in a single house. How can my one income compete with that? As an American, I was not raised to live like that. I need my space, and my own home. There is no way my single income can compete with the income of 4-12 workers. They live cheap, pool their money, and open businesses. I'm sorry, that's not the kind of world I want to live in.
The average home price in Chicago is insane, here's a link:
http://www.homegain.com/local_real_estate/IL/chicago.html
"Currently, condominiums are averaging around $400,000 while single family homes are priced between $750,000 to over $1 million."
Get that? Condos for 400k. The mortgage rate plus taxes on that has to be around 1500 / month! Meanwhile, gas prices have tripled. Cigarette prices have risen exponentially, and don't even think about buying your own insurance! Surely we're in a massive downturn. I work 50 hours a week as a professional, and I can barely keep myself indoors and eating ramen noodles.... something is seriously wrong here.
_________________
“To the last, I grapple with thee; From Hell's heart, I stab at thee; For hate's sake, I spit my last breath at thee” |
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Free World Order
tagged & banned
Joined: 18 Apr 2006
Posts: 2013
Location: Totalitarian EU |
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Thu Sep 06, 2007 11:52 pm
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Nope, but our governments are being rascist. They now tax us to death -- not virtually but literally. They now force us to work on average of 30 hours more each week. So much so we have opted out of the EU law that protects us from working more hours. If we were a part of such EU legislation we would starve to death in the UK. We do have the lowest unemployment levels compared to European most countries. Anyway, our government are rascist, they provide free education to immigrants, free hotel accomadation of up to 5 star in London, free cell phones, free cars, all for nothing!, nada. Maybe I should become patriated to some other country in the EU and come back again see what happens.
Don't worry, the housing market booms will burst in a few years but it won't benefit the people.
Yeah 50 hours a week can be tiring, and I know plenty that do more than that. It's just getting worse until it becomes better. We say the banks are to blame for credit consumer debt but without them we would be homeless.
When we look at the income in any US state, or EU country for that matter and then look at outgoings there is little if anything left each week/month/year, in fact it can be in the red so we use credit cards and get in more red. So we have all the stats and can calculate our own income and costs fairly easy but we know need solutions.
This is a cycle we always have but getting more intense each decade. This system is seriously flawed. I don't think the government are realistic when it comes to life, they must like cheesy video games with the help of cheats.
_________________
http://home.comcast.net/~plutarch/PoliceState.html
Disclaimer: all my posts are thought crimes and only IMO in the police state we all live in...
http://www.europeantruth.co.uk/index1.html UK is history, USA to RESIST?
http://www.freedom-force.org |
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