U.S. Headed Toward Bankruptcy, Says Top Budget Committee Republican

Posted August 5th, 2008 by xntryk1

Monday, August 04, 2008

U.S. Headed Toward Bankruptcy, Says Top Budget Committee Republican
By Terence P. Jeffrey, Editor-in-Chief

(CNSNews.com) - The ranking Republican on the House Budget Committee said the U.S. government is headed toward bankruptcy if it stays on its current fiscal course.

“We know that for a fact,” Rep. Paul Ryan (R-Wis.) told CNSNews.com in a video interview. “All the actuaries, all the objective scorekeepers of the federal government, are predicting this.”

To back up this claim, Ryan cited an estimate by the non-partisan Government Accountability Office that says the government faces a $53-trillion shortfall to cover the costs of promised benefits in its entitlement programs.

“They say we are $53 trillion short of fulfilling the promises the government is making to the American people, in today’s dollars,” said Ryan.

“Meaning that if we want to keep the promises of Medicare, Medicaid and Social Security, which are basically the three major entitlement programs, today we would have to set aside $53 trillion dollars and invest them at Treasury rates in order to do it,” he said.

Ryan said that to deal with this situation the government must either reform the entitlement programs or eventually impose massive tax increases on American workers.

Continue at: http://tinyurl.com/66b3p7

Bookmark/Search this post with:

output

Samuel Howell wrote, "...the

On August 6th, 2008 Schvenzlerman says:

Samuel Howell wrote, "...the people designated enemies of the State under the Trading with the Enemies Act,..."

Please elaborate and provide your source material so that I can look into this issue. Thanks.

Here is a link to

On August 6th, 2008 Samuel Howell Jr. says:

Here is a link to Roosevelt's Executive Order 6102:

http://www.conservativeus...

Here is a link to the Trading with the Enemies Act of Act of October 6, 1917:

http://www.conservativeus...

Edit: I failed to include this piece: An Act to Provide Relief in the Existing National Emergency in Banking, and for Other Purposes. This act amended Section 5, Subsection b or the Trading with the Enemies Act. See Section 2.

http://famguardian.org/Su...

The United States of America

On August 6th, 2008 Samuel Howell Jr. says:

The U.S. went bankrupt back in 1933. What do you think the Banking Holiday, the people designated enemies of the State under the Trading with the Enemies Act, the confiscation of the citizen's property (gold) and the "New Deal" was all about? A war was then drummed up as cover for the completion of the settlement, which ended with the Corp. U.S. quit-claiming it's Treasury, not to be confused with the Treasury of the United States of America, which was also known as the Independent Treasury and was abolished by the Corp. U.S. in 1921, to the IMF.

The sooner the better

On August 6th, 2008 DaddyWarBucks says:

IMO, the sooner the house of cards falls apart the better. When this so-called 'government' falls apart we'll be better positioned to clean house and start over.

Yes it will painful but there's no painless way to take out a criminal government. At least it will be weak and less capable of fending off the masses when it collapses in on itself.

"PunJab! Bring me my checkbook!"