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[Locust blog] The End of Medicare, Medicaid and Social Security « Locust blog: The feds have the use of force on their side and the ability to print money out of thin air, so when they go down it won’t be like an individual going bankrupt, where they just lose everything and start over. No, they will try everything possible to prop up their image of legitimacy including printing more and more money (causing rapid inflation), starting wars, stealing more property from Americans, and defaulting on promises they have made in the past, including the “safety net.” All of that money that has been taken from us over the years is gone, and just like with any robbery it is very unlikely that we’ll get any of it back.

[Cato @ Liberty] The Social Security and Medicare 'Trust Funds' Are a ”¦ What's the ...:  An institutionalized, ritualized lie that the U.S. government tells the American people. Perpetuated by both political parties, and others with an interest in hiding the reality of these programs’ unfunded liabilities from voters.  One that many journalists uncritically repeat.

[Bullfax.com - Market News & Analysis] Why Won't “Fiscal Hawks” Discuss The Real Issues? | www.bullfax.com: There's really nothing unusual in there ”” hysteria about the deficit, people who voted for the Bush tax cuts and the unfunded Medicare prescription drug benefit but suddenly think the national debt is killing us, political pandering ”” but maybe it was .

[EconomyPolitics] EconomyPolitics: Laurence Kotlikoff: Government is bankrupt with ...: We have 78 million baby boomers who, when fully retired, will collect benefits from Social Security, Medicare, and Medicaid that, on average, exceed per-capita GDP. The annual costs of these entitlements will total about $4 trillion in today's dollars.

[Angry Bear] On-budget vs "Unified Budget": Where Social Security Fits. | Angry ...: You seemed to conveniently skip over the sentence that said "At the time Social Security or Medicare redeems the debt instruments in the trust funds to pay benefits not covered by income, the Treasury will have to return to the public capital public markets to raise the funds just as if the trust funds never existed."

[Faulk For Congress] Can You Call it 'Social Security' if it's Built on Nothing but ...: Social Security faces the serious danger of failing to live up to its name due to its unfunded obligations. Last week, the Social Security and Medicare trustees issued their report on the fiscal outlook for the program. We reported that: ... http://blog.heritage.org/wp-content/uploads/. But Heritage expert David John explains that by 2015, “Social Security will require large and growing amounts of general revenue money in order to pay all of its promised benefits. ...

[Marketplace of Ideas Blog] Marketplace of Ideas Blog - The Social Security boogey man: and Social Security’s surplus has evaporated. Unless we strengthen these programs, government will be forced to either raise payroll taxes by 30 percent, or cut benefits by nearly 25 percent.

[Bob Cesca's Awesome Blog! Go!] Bob Cesca's Awesome Blog! Go!: Social Security is Fine and Dandy: Whether I have the jist of how SS is funded or not, it just seems odd to me that, given everything we know is happening with regards to the US's debt problem, unfunded liabiliies, etc, trying to paint a rosy financial picture of these entitlements seems pre-mature, at best. Does it not?

Reflected tags on Technorati: Blog, Security, Global Security Watch