How US Government Debt May Impact Social Security

By Peter Reagan -Re-Blogged From Newsmax

Fiscal year 2018 wasn’t a good one for U.S. government net-worth. While that may hardly be surprising, it’s possible we’re reaching a “tipping point.”

From an official report released by the U.S. Treasury, Sovereign Man pulled out a few key highlights:

  • In fiscal year 2018, the government’s total net loss was $1.16 TRILLION.
  • … they spent over $4.5 trillion.
  • … nearly HALF went to Social Security and Medicare.
  • … spent a record $523 billion just on interest payments on the national debt!

 

How US Government Debt May Impact Social Security
(Pixelrobot/Dreamstime)

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BERNIE: ‘You’re Damn Right’ Health Insurance Companies Should Be Eliminated

[Not much doubt – the UGLY face of Socialism in the Democratic party. -Bob]

By Lionel Parrott – Re-Blogged From Liberty Headlines

‘You are not going to be able…to have cost-effective, universal health care unless you change the system…’

(Lionel Parrott, Liberty Headlines) Democratic senator and presidential candidate Bernie Sanders (D-Vt.) isn’t backing down from his call to eliminate health insurance companies, according to an article from The Hill.

After the Republican National Committee (RNC) tweeted Tuesday that the Vermont senator had called for eliminating health insurance companies, Sanders proudly tweeted back: “You’re damn right.”

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National Debt Is An ‘Economic Threat’ To The US

By Mac Slavo – Re-Blogged From Freedom Outpost

In an incredibly obvious statement, National Security Advisor John Bolton has declared the high level of national debt an “economic threat” to the United States. Unless you have been living under a rock for the past ten years, you know that statement is not only true but obvious.

Bolton claimed that the national debt is a big problem and tackling it requires significant cuts to the government’s discretionary spending, while most other economic experts say entitlement spending is the biggest concern. According to Bloomberg, Bolton was quoted as saying: “It is a fact that when your national debt gets to the level ours is, that it constitutes an economic threat to the society. And that kind of threat ultimately has a national security consequence for it.”

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New York City Joins The “Imminent Bankruptcy” Club

By John Rubino – Re-Blogged From Dollar Collapse

The public pension crisis is the kind of subject that’s easy to over-analyze, in part because there are so many different examples of bad behavior out there and in part because the aggregate damage these entities will do when they start blowing up is immense.

But most people see pensions as essentially an accounting issue – and therefore boring – so it doesn’t pay to go back to this particular well too often. Still, New York City’s missing $100 billion can’t be ignored:

New York City Owes Over $100 Billion for Retiree Health Care

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Is Canada’s Health Care System Better Than Ours in the US?

By Carlin Becker – Re-Blogged From IJR

Health care is always on Americans’ minds, and the politics around keeping people insured and healthy, cutting costs and providing high-quality care remains a critical issue.

While some have argued for deregulating the health care industry, insisting less red tape and more competition would yield better results, others on the political spectrum have pushed for a government-run system reminiscent of our neighbors to the north — but is Canada’s health care system really better than ours?

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The Big Pension Grab

It has been quite some time since we last collaborated on an article, opting instead to chase other pursuits and let some of the hysteria going on in the world fade into some type of steady state. It hasn’t happened, but there are pressing matters that need attention regardless. The circus going on all around us makes for great theater and distraction – and that is its intent.

The topic at hand is the failing pension and retirement system. Americans are notorious for spending well in excess of what they make, saving nothing in the process. The only way most save are the deductions from their paychecks for a 401k or IRA. Or perhaps they contribute to an IRA at tax time, when they realize doing so will reduce their tax liability.

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