Ron Paul – Tonight Show with Jay Leno 9/26/13
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Annual Medicare Subsidy Per Enrolled Member, 2011: $12,000
"Few voters know what the average Medicare beneficiary receives each year. This rises every year. It was about $11,000 in 2008. In 2011, it was $12,000. Americans become eligible at age 65. Beginning in the year 2010, the baby boomers began to reach age 65. They were born in 1946, the year after World War II ended. The birth rate soared. It did not reverse until 1958. There is no question what is going to happen to Medicare. It is today the #1 government expense: 23%. This percentage will be over 50% before the boomers depart, unless Medicare is abandoned by younger voters in a great default." Continue reading →
The Larger the Deficit, the Greater the Default
"There will be a day of reckoning, of course. There always is. But a majority of voters at that time will be sure to see to it that previous lenders will suffer the losses. There will be a Great Default. The lenders will cry: 'But you promised.' And the borrowers will cry: 'That’s life in the land of Keynes. In the long run, we’re all dead. You go first.' The big losers will be the suckers who lent Uncle Sam the money. The biggest lenders are those who trust the federal government to pay their retirement bills, including medical bills. Those who believe in the welfare state will be the biggest losers. They have believed in something for nothing. They will get left with a pile of IOUs and a note: 'Sorry, Charlie.'" Continue reading →
Government Shutdown: An Oxymoron for Real Morons
"The words 'government shutdown' do not mean 'government shutdown.' They mean 'boondoggle shutdown.' They mean 'special-interest-group-subsidy shutdown.' What about the Post Office? Will it get shut down? No. What about the CIA? Will it get shut down? No. What about the NSA? Will it get shut down? No. What about the TSA? Will it get shut down? No. What about the Department of Homeland Security? Will it get shut down? No. My suggestion: stop worrying about a government shutdown. Instead, keep worrying about the government staying open . . . just like you did before." Continue reading →
Plundering The Provinces
"The establishment media and many economists and other social scientists continually bemoan the varying income differences generated by voluntary and ever changing consumer choices on the market. In the U.S., the political class regularly and forcibly extracts a massive amount of income from productive workers, investors, and entrepreneurs via taxation and money creation ('quantitative easing' and 'zero interest-rate policies') and funnels these stolen funds into its own pockets and those of privileged financial institutions, giant agribusiness corporations, government military contractors, construction unions, etc." Continue reading →
Why the Higher Education System Is Unsustainable (i.e. Doomed)
"That which is unaffordable is unsustainable and will go away. The current system of higher education is profoundly unaffordable: it exists on an immoral foundation of student debt--$560 billion of which is Federal. Enormous expansions of student debt are required to keep the current system of higher education afloat. This chart shows the insane trajectory of Federal student debt. But unaffordability is only one reason why the present system of higher education is unsustainable. Despite the good intentions and hard work of individuals, these systems are broken. Due to their size and structure, large systems such as national defense, healthcare and education limit the impact of individual initiative." Continue reading →
Washington Sees Incomes Soar as Most of U.S. Declines
"American incomes have tumbled over the last decade. But for many people in Washington, D.C., it’s been something of a party. The income of the typical D.C. household rose 23.3% between 2000 and 2012 to an inflation-adjusted $66,583, according to the Census Bureau’s American Community Survey. During this period, median household incomes for the nation as a whole dropped 6.6% — from $55,030 to $51,371. The Washington, D.C. metro area — which includes the surrounding suburbs in Maryland, Virginia and West Virginia — has it even better, with a median household income of $88,233 that ranks highest among the U.S.’s 25 most populous metro areas." Continue reading →
The Treasury Secretary on How Unstable U.S. Government Finances Are
"Treasury Secretary Jack Lew made the following statement during remarks today before the Economic Club of Washington D.C.: '[W]e are relying on investors from all over the world to continue to hold U.S. bonds. Every Thursday, we roll-over approximately $100 billion in U.S. bills. If U.S. bond holders decided that they wanted to be repaid rather than continuing to roll-over their investments, we could unexpectedly dissipate our entire cash balance.'" Continue reading →
The 7 Choices Left to the Military-Industrial Complex
"Since 2002 the US government has presided over one of the most dramatic financial bubbles of all time: the bubble of the military-industrial complex. This bubble, like all others, will pop, and it looks to be deflating right now. The amounts of money that have been spent in the past decade can only be characterized as obscene. In addition to the military complex, we have a massive intelligence complex. Not only that, but we also have a massive law enforcement complex. The Department of Homeland Security has given them at least $34 Billion in the past several years, on top of their take from local taxes, state taxes, fines, seizures, and other Fed money." Continue reading →
A Rogue State and Failed Social Visions
"We are always getting New Freedoms, New Frontiers, Fair Deals, New Deals, Square Deals, Wars on Drugs, Wars to End All Wars, Wars to Make the World Safe for Democracy, Global Wars on Terror, and Wars on Poverty. We are always getting social visions enacted with names like Personal Responsibility and Work Opportunity Act, Aid to Families with Dependent Children, Employment Non-Discrimination Act, Defense of Marriage Act, Family and Medical Leave Act, and the Iraq Liberation Act. There’s no getting around it. The U.S. is a rogue state domestically as well as in its international affairs. These are two sides of the same belief system." Continue reading →
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