Author Topic: Sit Down before you read this No. 2.  (Read 1159 times)

Soul Crusher

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Sit Down before you read this No. 2.
« on: October 24, 2011, 07:29:17 PM »
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Federal retirement plans almost as costly as Social Security
http://abcnews.com ^ | 10.2.11 | DENNIS CAUCHON
Posted on October 24, 2011 8:34:32 PM EDT by dragnet2

Retirement programs for former federal workers — civilian and military — are growing so fast they now face a multitrillion-dollar shortfall nearly as big as Social Security.

The federal government hasn't set aside money or created a revenue source similar to Social Security's payroll tax to help pay for the benefits, so the retirement costs must be paid every year through taxes and borrowing.

The government paid a record $268 billion in pension and health benefits last year to 10 million former civil servants, military personnel and their dependents, about $100 billion more than was paid a decade earlier after adjusting for inflation. And $7 billion more was deposited into tax-deferred accounts of current workers.

In addition, the federal government last year made more than a half-trillion dollars in future commitments, valued in 2010 dollars that will cost far more to pay in coming decades. Added last year:

$107 billion in retirement benefits accumulated by current workers.

$106 billion in new benefits granted to veterans. Retirement

More than $300 billion in the snowballing expense of previous retirement promises that have no source of funding.

The government committed more money to the 10 million former public servants last year than the $690 billion it paid to 54 million Social Security beneficiaries.

The retirement programs now have a $5.7 trillion unfunded liability, compared with a $6.5 trillion shortfall for Social Security.

Outgoing Defense Secretary Robert Gates told Congress in June in his final budget testimony that health care costs "are eating us alive."

Rep. Jim Cooper, D-Tenn., a member of the Armed Services Committee, says retirement benefits are an extremely sensitive issue. "We have a disconnect between all these sacred promises we've made and how they are not backed up by anything," he says.

(Excerpt) Read more at abcnews.go.com ...

Soul Crusher

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Re: Sit Down before you read this No. 2.
« Reply #1 on: October 24, 2011, 07:33:27 PM »
can anyone tell me how this plays out short of CW 2 ? 

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Re: Sit Down before you read this No. 2.
« Reply #2 on: October 24, 2011, 07:35:13 PM »
can anyone tell me how this plays out short of CW 2 ? 


We deport anyone over 18% body fat.  Take all the lazy gluttons and ship em out.  Let the efficient people run america.

































Deal?

Soul Crusher

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Re: Sit Down before you read this No. 2.
« Reply #3 on: October 24, 2011, 08:17:27 PM »
240 - tell me what mathematical formula we will use to get us out of this disaster?   

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Re: Sit Down before you read this No. 2.
« Reply #4 on: October 24, 2011, 08:20:24 PM »
240 - tell me what mathematical formula we will use to get us out of this disaster?   

ship out anyone who is fat.  period.  you have 1 year to get to an acceptable level of muscle and BF%.

no twinks, and no fatties.  And NO health exceptions.

watch the USA productivity skyrocket.  How many people do you know that are beasts in the gym, then completely lazy in all aspects of their life?  not many.  Usually, they're type A in the gym, in the classroom, at work, etc.  They get shit done.  Hard workers.

kick out the potheads, the fatties, the whiners. 

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Re: Sit Down before you read this No. 2.
« Reply #5 on: October 24, 2011, 08:21:51 PM »
ship out anyone who is fat.  period.  you have 1 year to get to an acceptable level of muscle and BF%.

no twinks, and no fatties.  And NO health exceptions.

watch the USA productivity skyrocket.  How many people do you know that are beasts in the gym, then completely lazy in all aspects of their life?  not many.  Usually, they're type A in the gym, in the classroom, at work, etc.  They get shit done.  Hard workers.

kick out the potheads, the fatties, the whiners. 

Wouldn't it be better for them to die off early so they don't get taxpayer financed benes? 

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Re: Sit Down before you read this No. 2.
« Reply #6 on: October 24, 2011, 08:30:55 PM »
Wouldn't it be better for them to die off early so they don't get taxpayer financed benes? 

no, cause they still suck up 20 years of social security and welfare first.

kick them out now.  give them 1 way tickets to the country of their choice, or sustain daily beatings from skinny people without legal invelement.  If you see a fatty, you can beat them, and you dont go to jail.

Oh, and steroids are free.  ECA too.  this society would be fcking jacked, competitive, angry and aggressive - HUNGRY for success.  bald, pissed off, and hard working.  33, we saw what BBing did to you.  Hair fell out, you got armed, you got busy.

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Re: Sit Down before you read this No. 2.
« Reply #7 on: October 24, 2011, 08:37:46 PM »
no, cause they still suck up 20 years of social security and welfare first.

kick them out now.  give them 1 way tickets to the country of their choice, or sustain daily beatings from skinny people without legal invelement.  If you see a fatty, you can beat them, and you dont go to jail.

Oh, and steroids are free.  ECA too.  this society would be fcking jacked, competitive, angry and aggressive - HUNGRY for success.  bald, pissed off, and hard working.  33, we saw what BBing did to you.  Hair fell out, you got armed, you got busy.

never ever did roids.    Am clean as a whistle always have been. 

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Re: Sit Down before you read this No. 2.
« Reply #8 on: October 24, 2011, 08:50:48 PM »
never ever did roids.    Am clean as a whistle always have been. 

Team MPB

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Re: Sit Down before you read this No. 2.
« Reply #9 on: October 24, 2011, 08:53:48 PM »
Team MPB


It is what it is.  My best friend lost his air at 16 yo.

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Re: Sit Down before you read this No. 2.
« Reply #10 on: October 24, 2011, 08:59:17 PM »

It is what it is.  My best friend lost his air at 16 yo.

i went really thin... shaved bald with a bic... then really spent the last 2 months massaging, rogaine, etc.  It came in a LOT thicker... massage = blood to the scalp.

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Re: Sit Down before you read this No. 2.
« Reply #11 on: October 24, 2011, 09:01:35 PM »
i went really thin... shaved bald with a bic... then really spent the last 2 months massaging, rogaine, etc.  It came in a LOT thicker... massage = blood to the scalp.

I love a shaved head. 

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Re: Sit Down before you read this No. 2.
« Reply #12 on: October 25, 2011, 06:46:09 AM »
Published: Monday, 24 Oct 2011 | 2:50 PM ET Text Size
By: Reuters
      
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The total of U.S. state debt, including pension liabilities, could surpass $4 trillion, with California owing the most and Vermont owing the least, a new analysis says.


The nonprofit State Budget Solutions combined states' major debt and future liabilities, primarily for pensions and employee healthcare, unemployment insurance loans, outstanding bonds and projected fiscal 2011 budget gaps. It found that in total, states are in debt for $4.2 trillion.

The group, which follows state fiscal conditions and advocates for limited spending and taxes, said the deficit calculations that states make "do not offer a full picture of the states' liabilities and can rely on budget gimmicks and accounting games to hide the extent of the deficit."

The housing bust, financial crisis and economic recession  caused states' tax revenue to plunge, and huge holes have emerged in their budgets over the last few years. Because all states except Vermont must end their fiscal years with balanced budgets, states have scrambled to cut spending, hike taxes, borrow and turn to the federal government for help.

Taxpayers are worried the states' poor fiscal health will persist for a long time and some Republicans in Congress have questioned whether the situation is worse than the states say.

State Budget Solutions relied on financial reports and income tax rates provided by the Federation of Tax Administrators in determining its rankings.


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The true debt totals may be lower, though, because the group also used the highest estimates of pension gaps. The conservative think tank American Enterprise Institute says public pensions are short $2.8 trillion.

Others, including the nonpartisan research group Pew Center on the States, put total unfunded pension liabilities at around $700 billion.

The wide range is based on different assumptions of the returns of pension fund investments, which provide the bulk of money for benefit payments. Conservative economists say the investments will have annual returns of around 4 percent, while many funds expect returns in line with the average of the last 20 years — closer to 8 percent.

Using the higher pension gap number, State Budget Solutions said California is in the biggest financial hole — with total debt of more than $612 billion. New York follows with $305 billion of debt, and then Texas, with total debt of $283 billion. Vermont has the lowest amount of total debt at just over $6 billion.

The group also looked at the financial shape of states using the Pew pension projections. It came up with a total debt of $2 trillion for all states.

California still owes the most under the alternative computation, but the state's total debt drops significantly, to $307 billion. With the Pew numbers, New Jersey follows with $183 billion of debt and Illinois is next at $150 billion.

According to the analysis, California has also borrowed the most from the federal government to pay for unemployment benefits, $8.6 billion. Michigan was next, taking out $3.1 billion, and then New York, borrowing $2.9 billion.

As unemployment shot up, some states could not pay for the surge in demand for jobless benefits. The federal government loosened its lending rules to keep states from having to cut other areas of their budgets. But last month the U.S. government again began charging interest on the outstanding loans and may levy extra taxes on businesses in states with outstanding loans.

Looking at just state annual financial statements, the group found Connecticut has the highest debt per capita, at $5,402, and nine states have debt of more than $3,000 per capita.

Copyright 2011 Thomson Reuters. Click for restrictions.

TOPICS:New York | California | Recession | Housing | Pensions | Unemployment | Taxes | United States | Inflation | Interest Rates | Employment | Economy (U.S.) | Debt | Politics and Government