I had planned to get all my facts ready for this post. What I realized is that the “facts†don’t exist. All the facts are really just estimates, best guesses of what is to come. The CBO says that we will reduce the deficit. BUT… I would like to point out that the expenses are […]
I have enough knowledge of this to know that I probably don’t want to know how bad it is. As a resident of Massachusetts I know that MassHealth is a large liability that without the federal aid would cause severe problems in our budget. We are not alone though, State debt is a problem in […]
We have been running budget deficits for a long time. Both Democrats and Republicans have been running up our credit card. It is catching up to us. Please don’t try to tell me that President Clinton cut the deficit, he didn’t. President Clinton had an “on-budget” surplus of $449 billion but during that same time the “off-budget” deficit […]
I was quite shocked when I started to really look at the official US Budget. Here is the 10 year plan (page 151) Receipts: $37 trillion Outlays: $46 trillion Deficit: $9 trillion Um…yeah, doesn’t sound like a good plan to me either. So, debt is going to grow. What happens to interest expense? 2010 = […]
Debt? So what…so many people say we owe it to ourselves, it isn’t a big deal. Well, that is not exactly true. As we have seen with Social Security the debt is coming due. I did a search to see if I could find out what was coming due when….check out page 13 of the […]
If you have read my Social Security post, and come to terms with it….this one will scare your pants off. Social Security is a mild problem in comparison. I don’t even know where to begin, so I will point you to a 6 page report written by the CBO in 2002. This report says that because […]
I have been hearing that Social Security is going broke my whole life. I think most Americans hear it, know it, but think we have time to address it “later”. I have known since I joined the workforce about 20 years ago that Social Security has problems, so that is at least 5 presidential terms…both […]