A New Perspective of Looking at the US Debt

Why Standard & Poor downgraded the US credit rating:

1- U.S. tax revenue: $2,170,000,000,000.
2- Federal Budget: $3,820,000,000,000.
3- New debt: $1,650,000,000,000.
4- National debt: $14,271,000,000,000.
5- Recent budget cuts: $38,500,000,000.

Now, let's remove 8 zeros and pretend it's a household budget:

1- Annual family income: $21,700.
2- Money the family spent: $38,200.
3- New debt on credit cards: $16,500.
4- Outstanding balance on credit cards: $142,710.
5- Recent budget cuts: $385.

The above example certainly puts the U.S. debt into perspective, doesn't it?

Who Destroyed America

OR

CAPITALISM - A Love Story

This DVD is very compelling. It is by Michael Moore. In it he shows both
political parties. It is a movie that capitalizes on the populist anger that
Americans are feeling. Some scenes are very shocking but I highly recommend
that you watch it.

The Healthcare Trojan Horse

Millions of Americans who objected to the Healthcare law did so because they knew a lie when they heard one. A huge bill which most politicians had not read let alone openly debated was touted as covering forty million more Americans, cutting over 500 billion from Medicare and miraculously having no adverse effects on our healthcare.

The annual report on the future health of Medicare has been released and proves those skeptical Americans were so right. Headlines everywhere should highlight the courageous actions by the Medicare chief actuary, Richard Foster. Required to analyze and report on Obamacare in the exact fairy tale form passed by our politicians, Mr. Foster added to the annual Medicare report a second and damning analysis based on reality.

With 15 years of experience in Medicare analysis , Mr. Foster concludes that the assumptions on which the healthcare law is based “do not represent a reasonable expectation for actual program operations in either the short range . . . or the long range."

Mr. Foster's criticisms are shared by Stanford G. Ross and David M. Parker who have served as public trustees for Medicare. They stated in the NY Times ("Mislead on Medicare", Aug 14) that the overly optimistic body of the report will do real harm by producing an incorrect picture of the condition of the Medicare program and also will seriously confuse the issues involved.

This report with Foster's appendix is at https://www.cms.gov/ReportsTrustFunds/downloads/tr2010.pdf and his second analysis based on reality is at http://www.cms.gov/ActuarialStudies/Downloads/2010TRAlternativeScenario.pdf

The politicians who passed this law, and non-thinking media loudly spout only the rosy fiction of the calculations based on their fantasy projections. But the rest of us will find and read and disseminate Mr. Foster’s final appendix which effectively reveals the healthcare Trojan Horse this Congress and this President claim as achievement.

We Seniors are on notice that our decreased home values, retirement investments and investment income are not the only facets of our lives being assailed. We know that the new healthcare law debacle is a threat to the good healthcare we anticipate as a result of our years of working and saving and paying our taxes.

Who OWNS Your Politician

Click below!


http://www.opensecrets.org/

Good Riddance

Wexler didn't represent us anyway.
POLITICO

Wexler will resign seat to head Mideast center
Rep. Robert Wexler (D-FL) will announce he is resigning his seat tomorrow to become head of a Middle East group, the Center for Middle East Peace and Economic Cooperation, founded by Slim-fast businessman S. Daniel Abraham, Hill sources say tonight.
Earlier: Jockeying for Wexler's House seat is already underway, reports Josh Kraushaar.
Democratic foreign policy hands said earlier today that Wexler, an important early Obama supporter in Jewish Democratic circles, was seeking to transition out of the Hill to private sector work where he could make more money and pay for children's school tuitions, etc.
S. Danny Abraham is a long time associate and supporter of Wexler from his Palm Beach district, major Democratic party donor close to the Clintons, and dovish pro-Israel philanthropist. The Middle East center Wexler will head is revived from an earlier incarnation. Among its past associates, Clinton-era DAS Toni Verstandig and Dan Rothem.
In a speech earlier this month on Middle East policy at the Center for American Progress, Wexler strongly defended Obama's Middle East peace push.
More from the Miami Herald and JTA.

Posted by Laura Rozen 11:06 PM

Political Common Sense