World
$78.8 Trillion; United States Debt Obligations exceed world GDP; Monetary Collapse Looming?
How in the world are we going to pay off all of this debt? Raising taxes to do it would burden our economy, and then the situation would only get worse. To me the solution is obvious, cut spending.
For too long in this country we’ve had the give-me-stuff people standing there with their hand out, and the government putting something in it. Does the idea of small government ring a bell? It is what our founding Fathers had in mind when they gave us our constitution. That is why there is a list in the constitution that quite clearly spells out the powers of the federal government, and also what it is not allowed to do. So basically if it was not listed as a power, then they are to stay away from it, and allow the States to handle it.
Just take a look at federal laws. At the very beginning they will state their authority in enacting the law, and it is almost always the commerce clause. I’m sure they even think that just because your computer is hooked up to the internet, and therefore has contact with other computers in other States, that they then would have the constitutional right of regulating your computer, and thereby your internet communications; they are out of control.
jbranstetter04
Federal obligations exceed world GDP
Does $65.5 trillion terrify anyone yet?
As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world.
The total U.S. obligations, including Social Security and Medicare benefits to be paid in the future, effectively have placed the U.S. government in bankruptcy, even before new continuing social welfare obligation embedded in the massive spending plan are taken into account.
The real 2008 federal budget deficit was $5.1 trillion, not the $455 billion previously reported by the Congressional Budget Office, according to the “2008 Financial Report of the United States Government” as released by the U.S. Department of Treasury.
The difference between the $455 billion “official” budget deficit numbers and the $5.1 trillion budget deficit cited by “2008 Financial Report of the United States Government” is that the official budget deficit is calculated on a cash basis, where all tax receipts, including Social Security tax receipts, are used to pay government liabilities as they occur.
But the numbers in the 2008 report are calculated on a GAAP basis (“Generally Accepted Accounting
Practices”) that include year-for-year changes in the net present value of unfunded liabilities in social insurance programs such as Social Security and Medicare.
Under cash accounting, the government makes no provision for future Social Security and Medicare benefits in the year in which those benefits accrue.
“As bad as 2008 was, the $455 billion budget deficit on a cash basis and the $5.1 trillion federal budget deficit on a GAAP accounting basis does not reflect any significant money [from] the financial bailout or Troubled Asset Relief Program, or TARP, which was approved after the close of the fiscal year,” economist John Williams, who publishes the Internet website Shadow Government Statistics, told WND.
“The Congressional Budget Office estimated the fiscal year 2009 budget deficit as being $1.2 trillion on a cash basis and that was before taking into consideration the full costs of the war in Iraq and Afghanistan, before the cost of the Obama nearly $800 billion economic stimulus plan, or the cost of the second $350 billion in TARP funds, as well as all current bailouts being contemplated by the U.S. Treasury and Federal Reserve,” he said.
“The federal government’s deficit is hemorrhaging at a pace which threatens the viability of the financial system,” Williams added. “The popularly reported 2009 [deficit] will clearly exceed $2 trillion on a cash basis and that full amount has to be funded by Treasury borrowing.
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=88851
Duration : 0:1:41
Fears growing over Greece debt crisis
Financial markets across the world have continued to experience serious volatility amid a worsening debt crisis in Europe sparked by the downgrading of Greece’s massive debt to junk status.
Athens has asked the European Union and IMF for more than $50bn to help bail the country out of its economic problems.
Many analysts fear the crisis could trigger the downfall of other vulnerable economies in the eurozone.
Jonah Hull reports.
[April 29, 2010]
Duration : 0:1:50
Money as Debt II Promises Unleashed (5 of 8)
Quick easy way to accumulate silver
http://silversnowball.com/1861/
Bailouts, stimulus packages, debt piled upon debt, where will it all end?
How did we get into a situation where there has never been more material wealth & productivity and yet everyone is in debt to bankers?
And now, all of a sudden, the bankers have no money and we the taxpayers, have to rescue them by going even further into debt!
Money as Debt II Explores the baffling, fraudulent and destructive arithmetic of the money system that holds us hostage to a forever growing DEBT…and how w might evolve beyond it into a new era.
http://www.moneyasdebt.net/
Duration : 0:9:56
Money as Debt II Promises Unleashed (4 of 8)
Quick and easy way to accumlate silver
http://silversnowball.com/1861/
Bailouts, stimulus packages, debt piled upon debt, where will it all end?
How did we get into a situation where there has never been more material wealth & productivity and yet everyone is in debt to bankers?
And now, all of a sudden, the bankers have no money and we the taxpayers, have to rescue them by going even further into debt!
Money as debt II Explores the baffling, fraudulent and destructive arithmetic of the money system that holds us hostage to a forever growing DEBT…and how w might evolve beyond it into a new era.
http://www.moneyasdebt.net/
Duration : 0:9:56
Money as Debt II Promises Unleashed (3 of 8)
Quick and easy way to accumlate silver
http://silversnowball.com/1861/
Bailouts, stimulus packages, debt piled upon debt, where will it all end?
How did we get into a situation where there has never been more material wealth & productivity and yet everyone is in debt to bankers?
And now, all of a sudden, the bankers have no money and we the taxpayers, have to rescue them by going even further into debt!
money as debt II Explores the baffling, fraudulent and destructive arithmetic of the money system that holds us hostage to a forever growing DEBT…and how w might evolve beyond it into a new era.
http://www.moneyasdebt.net/
Duration : 0:9:55
Money as Debt II Promises Unleashed (2 of 8)
Quick and easy way to accumlate silver
http://silversnowball.com/1861/
Bailouts, stimulus packages, debt piled upon debt, where will it all end?
How did we get into a situation where there has never been more material wealth & productivity and yet everyone is in debt to bankers?
And now, all of a sudden, the bankers have no money and we the taxpayers, have to rescue them by going even further into debt!
money as Debt II Explores the baffling, fraudulent and destructive arithmetic of the money system that holds us hostage to a forever growing DEBT…and how we might evolve beyond it into a new era.
http://www.moneyasdebt.net/
Duration : 0:9:56
Surviving Student Loans and College Debt
By carefully choosing student loans, grants, and scholarships as part of your entire college financial aid package, you can avoid going into heavy college debt. Kimberly Palmer, senior editor for U.S. News, discusses financial aid tips to help in paying for college and minimizing student debt and the differences between private loans and federal college loans.
For more college financial aid advice go to http://www.usnews.com/articles/business/paying-for-college/2008/04/09/look-twice-at-loan-advice.html
Duration : 0:1:41
20 Year Olds Dealing With Debt
Many young professionals in their twenties are dealing with debt from credit cards and unpaid student loans. Managing personal finances can be difficult when you must handle expenses like insurance, business clothes, transportation, car payments, and more while still trying to have savings to meet your long-term goals such as buying a house or planning for retirement.
For more personal finance tips, please visit http://www.usnews.com/articles/business/your-money/2008/04/16/investing-guide-for-20-somethings.html
Duration : 0:2:40
How to disable Pay Pass RFID chip in Credit Card
FederalJack.com presents – How to Disable an RFID Chip
This is a video where we demonstrate how to render the Pay Pass RFID chip inactive in credit and debit cards. Washington Mutual does not give you the option of an RFID-free card, so we encourage everyone to break their RFID chips and only use the magstripes, and tell their banks they do not want RFID in their cards.
These chips are insecure and are part of the larger new world order agenda. We got this method from the good people at BrainPox:
http://federaljack.com/modules.php?name=News&file=article&sid=2142
Please post video responses of you and your friends smashing your RFID PayPass cards in new and innovative ways!
UPDATE: The last two times I’ve been to McDonalds the cashier will always struggle to use my smashed RFID chip in the debit card, and then they will eventually give up and swipe the magstripe. That means there is some directive from the top instructing employees at McDonalds restaurants to use the chip instead of the magstripe. Has anyone else had this experience after smashing their chip?
This video was a reuplod from: http://www.youtube.com/user/federaljackdotcom
Duration : 0:2:5
Carl Calleman The Mayan Calendar and Money
Carl Calleman
The Mayan Calendar and money
July 2009
Duration : 0:9:59
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