Wednesday, May 13, 2009

Insolvency Just Around the Corner

If this article doesn't scare the pants off of you, then you are either beyond apathy, have no prospects for ever accumulating a nickel in wealth, are just plain Stupid - with a capital S, or weren't wearing any pants to start with. Note: you may qualify for more than one above.

This folks, is government gone horribly amok for too long. Read this line from the article to get an idea of just what kind of trouble we are in:

"According to the Federal Reserve flow-of-funds figures for year-end 2007, our collective net worth as consumers was $62.7 trillion. By the end of 2008, the same figure had fallen to $51.5 trillion. Another year of growth for Social Security and Medicare liabilities would bring total unfunded government promises to about $46 trillion. That's nearly 90% of our net worth."

To the truly stupid out there, that means that the government is going to need to take 90% of everything that everybody has in the nation to keep its promises on those two programs alone. So do you think that you are going to enjoy these retirement benefits when you are an old codger? Let's just say that dog food consumption is going to go through the roof in the next 25 or so years and not because there will be more dogs.

I remember when President Bush tried to do something to reform Social Security back a few years ago and the public and congressional outcry was overwhelming to the point that old Alfred E. had to back off. Oddly, the outcry against the Iraqi war didn't seem to be so forceful, even after it turned into a disaster. Instead, we kept hearing the same old rhetoric from our elected officials that Social Security was "safe". Yeah, like they care. If I remember correctly, they have their own retirement plan and are exempt from Social Security. This is the same government that is putting Bernie Madoff away for running a similar ponzi scam, but on a much more limited basis. He is small fry. The fact is, Congress does not have the political will to make the hard choices that we need to make because they fear that the short-sighted stupid among us will throw them out of office. Instead, they hand out more goodies and take in more money and get re-elected because people are too stupid to throw them out of office. It is time that we demand those self-serving fools represent us or get the hell out of Washington. VOTE THEM ALL OUT!

Right now, as Citizen Zane types away, your government is making plans to expand their programs to "benefit" us all. They are even BORROWING more money to get those plans rolling? Based on their track record with Social Security and Medicare, how can so many people actually think that all of this spending is a good idea? - Citizen Zane


  1. Forgive the source My Co-Patriot! I only wanted to add something to your list.

    IMHO, not a good thing!

  2. Anonymous,

    Thank you for the link. I guess I know what the topic of my next post will be. Now I know why conservative talk radio is so successful - they never run out of good material! Keep fighting the good fight - Citizen Zane

  3. hi citizen zane,

    i live in nyc too and i feel the same way as you. i hope you made it to the tea party we had on april 15th at city hall.

    fellow newyorker

  4. fellow newyorker,

    Thank you for checking in. I missed the tea party, but when I saw it on TV, decided that I had to start doing my part. I started the blog the next day. I will be ready for the next one.