Politicians Lie – Social Security Is Past-Broke

Politicians Lie – Social Security is Past-Broke

Freedom, IN – We’re living the biggest lie of all time. I wish that were hyperbole. But we’ve taken an ancient recipe for disaster, and inflated it to a systematic, global, trans-generational scale that’s unprecedented in human history.

Incumbent politicians want only to be reelected, so they won’t spill any bad news. And voters want to believe promises, and don’t want to hear bad news, so we keep reelecting the incumbents.
But there is bad news that people need to hear sooner, rather than later: Our nation’s debts are worse than we’ve been told, and the recent rosy prognostications of OASDI’s short term health, are lies.

The ~19.4 trillion-dollar “US National Debt” figure often bandied about includes only the face amount of securities outstanding. And this amount, while seemingly huge, is comparable to the USA’s debt/GDP ratio just after WWII and at the peak of our nation’s rebuilding. Many people know this, and therefore assume the government has an infinite capacity for writing and redeeming such debts.  But that’s not today’s picture at all.

An approximately $66 trillion “US Total Debt” includes state and local government securities outstanding, plus citizen personal debt; and that is by itself the greatest debt any nation ever owed. While this comes to about $809,896 of debt per US family, even this still doesn’t include the “Federal Agency Debt” of over $8 trillion, or much more significantly, what we call “Unfunded Liabilities” of entitlement programs like Social Security and Medicare.

That debt, which is typically only a matter of conjecture since the rules of its calculation are purely political, is guesstimated to be, by itself, well-over $1.1 million …per taxpayer!
Putting it another way, the promises politicians have made to future generations amount to around two times the globe’s total economic output. Just the retirement-related debt alone equals a full year of global output.
Putting it in a much more personal way; the whole world cannot pay for your Social Security. It was spent long ago, and we’re only writing IOU’s now.

There’s a one-hundred-year-old, terrible-ending story about this involving The Federal Reserve, Lawrence of Arabia, FDR and Richard Nixon.

But the bottom line is that a lot of political effluvium is about to hit the fan, and we need to act quickly to clean up what is sure to be a terrible mess.

I propose we dramatically cut spending, government interventions, powers and agencies immediately. Stand down our crony empire and global war machine, and focus on the real problems we face in our real, personal, human lives.

I propose we replace our Ponzi-Scheme funding of Social Security, Medicare and other welfare and entitlement programs with a much simpler taxation and minimum support system at least similar to the Fair Tax.

In other words, I propose we stop lying, stop making promises we can’t keep, and start keeping the promises that make sense for the promotion of peace, prosperity, security …and freedom.
How? It’s really just a choice. Ask me about it.