Welfare-Warfare State

10 things Social Security won’t tell you: The truth about the agency’s bottom line

"About a third of workers in their 50s expect Social Security benefits to be their primary source of income in retirement. The Social Security Administration itself has said that unless something is done to reform the system, it will have to reduce benefit payments to retirees within the next few decades. Less talked about, perhaps, is the concern that the program is having a hard time paying its bills today. In 2010, the Social Security Administration began collecting less revenue in taxes than it needs to cover benefit payments, forcing the agency to tap its $2.7 trillion trust fund sooner than some had expected." Continue reading →

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Bill Bonner: The war on the young

"Rules, regulations, restrictions - he doesn't recall voting for a single one. Instead, they were imposed upon him. So were the costs of today's omni-eternal state with claims - in the US alone -- on (according to Niall Ferguson) some $238 trillion of future output. Dear reader, between the time when we grew up and today the world has changed. It has been taken over by zombies, desperate to drain the future so they can enjoy it now. Old people get their benefits. Their laws. Their privileges. They get to have things more or less as they want them. And the young? Take it or leave it. No wonder so many are trying to leave." Continue reading →

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Read more about the article ‘Pension Paupers’: Dream Time Collapses in Britain

‘Pension Paupers’: Dream Time Collapses in Britain

"Pensioners living on pocket money as savings crisis hits millions ... Almost two million retired adults in the UK have less disposable income than the average 11 year-old, as Britain's savings crisis creates a generation of 'pension paupers'. A new survey last night said 15 per cent of men and women in retirement have an income of less than £154 a week, which falls to £8 after essential living costs. Insurance giant LV= claimed the situation was only likely to get worse as over 50s cut the amount they put into their pension pots to cope with the cost of living." Continue reading →

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Utah Spent $26K to Ferret Out Welfare Drug Users, Found Nine

"Of 4,425 people screened for drug use after seeking aid, only 813 were deemed to be at high risk of drug use, only 394 were actually subjected to drug testing, and of those, only nine were denied benefits because they tested positive and five are undergoing treatment. The state spent more than $26,000 to achieve these results. It spent more than $5,000 to administer the Substance Abuse Subtle Screening Inventory (SASSI) test to applicants and more than $20,000 to pay for drug testing. Those figures do not include staff costs to administer the SASSI test or the costs of drug treatment." Continue reading →

Continue ReadingUtah Spent $26K to Ferret Out Welfare Drug Users, Found Nine

Obama’s Police State: A List of Obama’s 55 Worst Assaults on Civil Liberties

"55 examples of Obama’s war on our liberties, freedoms and American way of life. I’m sure you’ve heard of a number of these – but some of the stuff on here will surprise (and frighten) you. Everything on this list is federally related, has been verified and is cited." Continue reading →

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School board members among 109 New Jerseyans faking income for free school meal program

"New Jersey state Comptroller Matthew Boxer announced on Wednesday that 109 public employees, spouses and family members will be prosecuted on fraud charges after a state investigation found they lied about their incomes to qualify for a free school lunch program. Boxer did not identify the employees, but mentioned that 40 of them worked for school districts, including six board members. The 109 cheaters hid a combined $13 million in underreported income to claim their children qualified for participation in the National School Lunch Program, which offers free or discounted breakfasts and lunches for children from lower-income families." Continue reading →

Continue ReadingSchool board members among 109 New Jerseyans faking income for free school meal program

Farm Bill: Are Republicans the “Stupid Party” or the “Big-Government Party”…or Both?

"It should go without saying that America’s agriculture policy has always been a terrible, stupid, counterproductive exercise in self-dealing cronyism. But when House Republicans severed the traditional connection, arbitrary but politically effective, between farm subsidies and food stamps, it briefly seemed like they were looking for an opportunity to put libertarian populist principle into practice, by separating both outlays in order to trim or reform both separately. But no — instead they were just making it easier for the party’s congressmen to vote for a bloated, awful big government program that benefits mostly-Republican states and interest groups." Continue reading →

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Busted California Cities: Pension Liabilities

"New accounting standards are being applied by Moody’s to cities. It turns out that the two biggest cities in California — Los Angeles and San Francisco — are way deeper in the hole than previously admitted. But wait! There’s more! San Jose will be downgraded. So will Inglewood ('The Hood'). So will Azusa. The total unfunded liabilities for the state are now over $320 billion. That’s up from $128 billion. In one shot. California is not alone." Continue reading →

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Busted California Cities: Pension Liabilities

"New accounting standards are being applied by Moody’s to cities. It turns out that the two biggest cities in California — Los Angeles and San Francisco — are way deeper in the hole than previously admitted. But wait! There’s more! San Jose will be downgraded. So will Inglewood ('The Hood'). So will Azusa. The total unfunded liabilities for the state are now over $320 billion. That’s up from $128 billion. In one shot. California is not alone." Continue reading →

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Nine Things You Need to Know to Survive the New Economy

"There is a way out. You have to hustle. It's hard. But there's nothing else. You have to choose between being a temp staffer (and I can see this from the front lines) or being an entrepreneur/artist. It's going to sound corny, but you have to stay physically, emotionally, mentally, and spiritually healthy. You have to work on coming up with ideas every day. You have to be around positive people who love you. You have to be grateful for the abundance you have and invite more into your life. This is not economics. This is the real world and how to survive in it. Not the fantasy land of cubicles and fluorescent lights." Continue reading →

Continue ReadingNine Things You Need to Know to Survive the New Economy