Date: Oct 30, 2012 6:46 PM
Subject: Re: Speachless In New York (or, another OMG moment)
"Doesn't sound like you know. I was just making the point that Uncle
Sam is broke, but when he goes knocking on doors of supranational
corporations, they have a way of showing domestic losses. Empty
pockets here, sorry."
Uncle Sam is not broke.
Uncle Sam is LESS than broke.
EACH Japanese citizen (man, woman, and child) has loaned us $71,428, EACH. Each Saudi citizen has loaned us $34,482. We don't even know how much each German citizen loaned us, and at my own Alma Mater where the George C. Marshall Foundation is located and where my fellow alumni recently had dinner, there is utterly no mention of the fact that the entire Marshall Plan was funded by Germany.
Our debt with China is really beyond all human comprehension. If you go to the Panama Canal and watch the huge line of Chinese ships loaded 8 stories high with containers (which never go back to China), you get only a slight sliver of insight into our newfold debt with China.
Officially, before Obamacare, social transfer payments were more than $3 trillion, and now before obamacare has fully kicked in, it's already up to $3.8 trillion, and a full implementation of obamacare would kick it up to $4.6 trillion (which is $100,000 per working White male). Social transfer payments are defined as "expenditures for which no good, service or upgrade in infrastructure is expected in return. The government collects the money in the form of taxes and new borrowing, then writes the checks to consumers and, to a lesser extent, companies in the form of subsidies."