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Simcountry is an Online Digital World where you are the President of a country.
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Oh no not you again (Kebir Blue)

Simcountry: Simcountry Bulletin Board  Oh no not you again (Kebir Blue)

DavePat (Fearless Blue)

Sunday, September 21, 2008 - 09:59 pm Click here to edit this post
Everyone is off in fantasy land yet again. The National Debt of the US isnt 9.7 Trillion Sorry Bob! See there is a major problem with all this debt talk, it is called unfunded debt! This unfunded debt isnt a joke either! The states made promises that they never funded but under a law passed by the socialists (democrats with republican support) that debt can be and currently is being transferred to the federal government. Now normally unfunded debt is nothing to worry about, it is often just written off the books, this debt though is real it is the promises made to government workers at the most basic of levels, police officers, fireman, paramedics, teachers, etc. It is their retirements. So far about 56 Trillion yes I said Trillion has been transfered to the federal government - in fact if you look at the balance of payments from the treasury department you discover something real interesting - the debt growth has been from this area as the federal government borrows money to make these payments increasing the national debt - doubling it under the presidentcy of GW Bush. Now more and more of this is being transferred as states fail to meet the promises. Talk about bail outs!!! Hell I would be almost willing to bail out all the banks compared to this - by 2018 the unfunded debt transfer will reach 159 Trillion according to the WSJ. The states never invested or few did - in the retirement programs they created to entice people to become government workers knowing that they could just up and shift the burden to the fed when it got to be too much for them. Now eventually we are going to have to say "f" it and put all these people on SS and medicare like the rest of us have to be ... then watch the howling start!d

Government retirement program for the average person includes:

*Life time medical not under Medicare
*80% to 100% of base pay depending on length of service and profession - as an example a teacher in most states with 25 years service recieves 100%
*Car and home loans that make the recent crap look tame - no downs, low interest locked in for life and a government bail out if ya cant make the payments.
*Other benefits like association due fees.

Now not all get all of this but they get some part of it someway. Also most do not pay SS or Medicare. They receive automatic increases for COLA and when a raise is given they are included in it. Hell this crap makes my military retirement look like nothing - I really enterred the wrong profession! The main benefits of my military career are 75% of my base pay and I dont get a pay raise unless congress says its for retirees too, but if I want my wife to get it I have to pay a huge premium like on insurance - the state folks don't - plus I pay $38 a month for tricare prime (health insurance) they pay nothing and actually get better options!

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