Posted by
heresyarch's Contra Mundum on Thursday, August 07, 2008 11:39:57 AM
This is what Richard W. Fisher, of the Dallas Federal Reserve said about our real National deficit.
"Add together the unfunded liabilities from Medicare and Social
Security, and it comes to $99.2 trillion over the infinite horizon.
Traditional Medicare composes about 69 percent, the new drug benefit
roughly 17 percent and Social Security the remaining 14 percent."
17% of this is from our compassionate conservative, George Bush. Thanks neo-cons.
Here is the link to read:
US Bankrupt and Insolvent
And then there is this gem as well:
"
Inflation is the most insidious enemy of capitalism. No central banker
can countenance it, not least the men and women of the Federal Reserve." - Richard Fisher.
To which I respond, BaaaWaaaaHaaa.....We are without hope.