Treasury Sec. Snow Blizzard: We Are Out of Money, Spent Over 8 Trillion!
By Elaine Meinel Supkis
Treasury Sec. Snow warns us he is going to eliminate Social Security unless Congress raises the debt ceiling another trillion dollars to over $9 trillion. The GOP is spending over $500 billion a year more than we take in as taxes!
U.S. Treasury Secretary John Snow warned lawmakers on Thursday that a legally set limit on the government's ability to borrow will be hit in mid-February and urged Congress to raise it quickly.They waited until dark, eh? Can't have the sheep panic and run off the cliff, can they? And they commit the crime just before New Years, betting most investors will not pay attention until after Monday!
Failure to do so potentially risks throwing the country into its first default in history, Snow warned in what has become virtually an annual rite as U.S. borrowing needs spiral.
"The administration now projects that the statutory debt limit, currently $8.184 trillion, will be reached in mid-February 2006," Snow said in a letter to 21 members of the U.S. House of Representatives and Senate released by Treasury after financial markets had closed.
Hahaha. Fleece time!
Snow said that Treasury, if the debt limit was not raised by then, would have to take "extraordinary actions" to keep paying its bills for everything from Social Security to national defense spending.OK, everyone, listen very carefully: they plan to steal all the Social Security money so the baby boomers can't retire! Got that? Shall I repeat?
The plan is to work us all to death. It wasn't accidental that they ignored the screams of the dying in New Orleans. That was the IMF/NWO/WTO plan for America. That is our future. All those elderly who died? That is you and me, babe!
From the Washington Post:
See? This is from a neo-nazi clown who doesn't do a stitch of real work. He bloviates and then lays about, sucking on his hookah and then reemerges to scold us about working.
As noted by recent cover stories in Newsweek and Business Week, the first of the roughly 77 million baby boomers turn 60 in 2006. J. Walker Smith of the polling firm of Yankelovich Partners told Newsweek that many boomers "think they're going to die before they get old" -- a reference to one survey in which boomers defined old age as starting around 80. Business Week asserted that fifty- and sixtysomethings consider their "middle age a new start on life" to indulge hobbies, begin new careers or remarry. These portraits of vigorous baby boomers clash with another reality: Their huge federal retirement benefits may seriously damage the economy and American politics.
Our continued unwillingness to address this disconnect counts as one of 2005's big stories. We should ask ourselves: Why? After all, the need is well known. Consider the Congressional Budget Office's just released projections. By 2030, Social Security, Medicare and Medicaid may cost 15 percent of national income -- almost double their level in 2000 and equal to 75 percent of today's federal budget. Left alone, these programs would require massive tax increases, cause immense deficits or crowd out other important government programs. We also know of at least partial solutions: curb costs by slowly raising eligibility ages and cutting benefits for wealthier recipients.
These monsters are circling us like the sharks they are. They can't wait to say, triumphantly, "Well, we just had to stop the Social Security payments because there are too many of you!" and then force us to go back to work, cut medical care and in general, drive us all to an earlier grave while they live in gated communities, well fed, good doctors, full insurance, our ruling class will be oh so happy.
Well, if the average American is happy about this, it would be rather interesting to watch the much feister Chinese take over the planet since we won't deserve to run it anymore, will we?
Also, I track the data about finances and all year long, the neo nazis and Greenspan lied to everyone about financing. "The deficit is lower," they lied. They didn't say it was because of two things: all the big stuff was set "off budget" and Social Security payments were flowing in and the government was conficating them as swiftly as they came and sent them all to China and Japan!
So now we learn it wasn't really $325 billion in the red but over $500 billion in the red. As I expected. Each year under Bush and the GOP has been around $500 billion in the red and thanks to the recent huge tax cuts and corporate hand-outs, the deficit next year is going to be over $680 billion. Well, just remember, we hit $12 trillion, we die.
Yes, death. Like for real, not pretend. I would guess about 24 million American citizens will be forced into a death march. Families who have the income to prevent this will struggle to keep family members alive but quite a few people will starve/freeze/work to death. And all to pay for a stupid war in Iraq and to keep corporate America happy as they relocate overseas.
Or we can listen to the Chinese and Korean peasants. They seem to have a plan.
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