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Goodbye Miss American Pie

 
Waterbug

User ID: 1295673
United States
11/07/2012 11:07 AM

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Goodbye Miss American Pie
As I write this, the Dow is down 300.
Temporary sell-off...? Maybe.
No confidence.. definitely.

I just don't see how or why it will get better any time soon..
Especially for those of us nearing retirement.

Oh well.. we had a good run.
Time to stock up on dog food.
dead


A National Debt FAQ
[link to www.intellectualtakeout.org]


[snip]

The Federal Old-Age and Survivors Insurance Trust Fund, is what is commonly known as Social Security. (Social Security Administration) You see, while many individuals thought that their Social Security contributions were tucked away in a lock box, the reality is that the government looted $2.5 trillion from the account to pay for current spending. At this point in time Social Security is a redistribution system wherein contributions are taken from current workers and immediately given to eligible retirees and beneficiaries.

So why does it matter that the government borrowed from itself? Simply put, the government ran a deficit of $1.1 trillion in 2012 (Financial Management Service) and is expected to be between $641 billion and $1 trillion in 2013 (Congressional Budget Office).
Waterbug (OP)

User ID: 1295673
United States
11/07/2012 11:10 AM

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Re: Goodbye Miss American Pie
death
Waterbug (OP)

User ID: 1295673
United States
11/07/2012 11:11 AM

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Re: Goodbye Miss American Pie
die
Waterbug (OP)

User ID: 1295673
United States
11/07/2012 02:13 PM

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Re: Goodbye Miss American Pie
shoot
Anonymous Coward
User ID: 27347017
Japan
11/08/2012 11:43 PM
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Re: Goodbye Miss American Pie
awhore
telling it straight

User ID: 1461054
United States
11/08/2012 11:48 PM

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Re: Goodbye Miss American Pie
It really is "Bye, bye Miss American Pie." Totally over for the U.S. we just can't see the collapse that's already underway. But soon we ALL will know its over.

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