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Jane Richey / December 1, 2012

$80 Trillion in Unfunded Liabilities

The petty games that we have allowed the politicians and pundits from both side have used to divide us has only allowed for the fact that we cannot have honest and constructive discussions about these very real and looming problems that are facing us. We have allowed them to pit us against one another so that we attack personal character over differences in political and financial leanings, but has it allowed one bit of honest debate or has it only allowed for us to become more spiteful?  I think it really is the later as I visit the political forums or talk to folks in the public. You can go back in history and see that this has been used in the past, but will we ever learn from those mistakes or will we only allow for it to control us in the end?

When you look at what our government is doing right now from devaluating the dollar with the printing press, to increasing spending in the hopes that it will lift us out of the financial mess that we are in it becomes clear that they do not have the real fortitude to address the real problems that we face and neither does the general public because as a whole we have put aside common sense to keep the gravy train rolling along to the personal pet issues that we all may have from one issue to the next.

The course that we are on right now has been tried many times throughout history and each time it has failed. You can look at how Weimar Germany attempted to print and inflate their way out of the morass it faced and how it led to totalitarianism, or you could look here at home how FDR tried to spend his way out of the problems he faced at the time. Both examples did not work, they only delayed the inevitable as in the case of FDR in his second term he faced a second recession instead of recovery just as we are facing today. They found out that spending did not help employment levels and left them further in debt as a result. Many of the things started under that administration and later under LBJ has led us to the real cliff of $80 trillion dollars in unfunded liabilities.  Congressman Paul Ryan is on record if we do not address Medicare in an honest and constructive way in the next two years it will become unviable. The same can be said about Social Security. Governments own estimates already show that it becomes unviable before 2025, but will this government really address it and can the people really stomach the bitter pill that is coming?

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Filed Under: Constitutionally Limited Goverment, Fiscal Responsibility, Free Markets, Politics Tagged With: devalue, Medicare, Social Security, unfunded

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