Raiding the Treasury: Crushing Debt & Expanding Coffers: New Political Sport?
August 26, 2009 by Dr. Joyce Starr
Filed under Economic Rights, Follow the Money Rights, Topics & Guests
The President committed over $780 billion to banks, brokers and mega corporations. Yet major US entitlement programs are on the verge of bankruptcy. Is raiding the US treasury a new political sport? Dr. Joyce Starr speaks out on the destruction of wealth and hope. Show Date: August 27, 2009.
Tea Party Express Signs: Go Green: Recycle Congress & We’re Not Your ATM.
Here’s the picture as of September 9, 2009.
1) US Government bailouts = $780 billion. Yet Social Security liability is reportedly between $10- $17. 5 trillion (depending on the source of the data). Social Security & Medicare liability combined are estimated at $106 trillion. The FDIC is also cash-strapped (down to $10 billion from $60 billion) and will likely look to the US Treasury(taxpayers) for support.
2) We’re facing $12 trillion in debt by 2019. Over a $100 billion is added to national debt every 5 weeks.
3) We pay over $1 billion in interest to China each month.
4) Loss of US household wealth since the financial meltdown began – $12.196 trillion. (A number of economists estimate the loss of global wealth at over 50 trillion dollars.)
5) The White House granted over four billion dollars to 500,000 car owners, but raised Medicare costs for millions of seniors – with major reductions in care proposed for the future. The White House is proposing to cut roughly $150 billion from the highly popular Medicare Advantage program. One in five seniors enjoy richer and more varied benefits with Medicare Advantage than those in traditional Medicare.
Respected researchers contend that the swine flu is no worse than the ordinary flu – affecting similar numbers – yet the US Government announced this week that half the population will be affected. And we still don’t know what’s in the vaccine. Testing will begin on American soldiers, who have little or no choice but to submit. The price tag for (and dangers of) inoculating the nation? Unknown.
6) The Administration is now instructing injured and aging vets that they can choose death with honor. The Administration wanted to do so for all seniors, but faced overwhelming public opposition.
Who stands to benefit from the apparent campaign to brainwash the choice of death on the aged and injured? Wall Street! (Stay tuned for bundled insurance investment that will pay investors when you die.)
Over 75 percent of the US population suffers from mild to acute stress. While the new policy will help sell antidepressants, it’s unlikely to lift the spirits of those who fear for their lives (or for their loved ones).
7) The stock market has rocketed thanks to White House stimulus funds to banks and brokers, but we’re facing 10 percent unemployment until 2010 and the first jobless “so-called recovery” in American history. The head of the Atlanta Fed estimates the true number of unemployed at 16 percent.
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To your economic survival,
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