AYFKM?: $3 TRILLION In Unfunded Pension Liabilities?

According to Elizabeth Norcross of the Mercatus Center, the states’ $452 Billion in unfunded pension liabilities is closer to $3 Trillion ‘when you get the accounting right’.  How’s that red crayon math working out now?

For those that missed this post:

States Fast Approaching Financial Abyss

“…but the day of reckoning is at hand. The debt crisis is already making Wall Street nervous, and some believe that it could derail the recovery, cost a million public employees their jobs, and require another big bailout package that no one in Washington wants to talk about.” – 60 Minutes

60 Minutes has done a thirteen minute report on the approaching day of reckoning for the states who are drowning in the deep end of the fiscal pool. According to Gov. Chris Christie, it’s not a income problem, it is a government employee benefit problem, and according to Meredith Whitney (highly respected Wall St. financial analyst) who has done research on the financial health of states and cities, this spring will see an influx of municipalities defaulting on their bonds because $160 Billion of federal stimulus cash will run out (just about the time the next round of residential and commercial mortgage resets occurs). She was calling out the big banks about the problems ahead for them long before they wanted to admit their liability, and those very same municipal bonds that will be defaulted on are owned, in the majority, by those very same big banks. Let’s all get ready for T.A.R.P. 2.0.

Paul Ryan On Obamacare And The Economy

Paul Ryan On Obamacare And The Economy

Titanic Of Debt Clocks.

Rep. Paul Ryan: Obama’s New Budget Will ‘Literally Crash the U.S. Economy’

(CNSNews.com) – Rep. Paul Ryan (R.-Wis.), the ranking member of the House Budget Committee, told CNSNews.com that the new fiscal year 2011 budget proposed by President Barack Obama will “literally crash the U.S. economy” with the additional debt it plans for the federal government.

“They literally crash the U.S. economy, if these kinds of deficits that he’s proposing persist,” Ryan said, referring to the fact that the Congressional Budget Office has reported that the president’s 2011 budget proposal would nearly triple the publicly held portion of the federal debt over the next ten years.

Glenn Beck, 2.10.2010: 20 Financial Time Bombs & The 1920’s Depression

NEWSFLASH: Al Gore and RFK are missing since the snow storms have hit the east coast. Al-ber Alert!!! Wait until you see just how stupid Dylan Ratigan of MSNBC is while talking about how global warming is creating the snow storms. (This stupid hick just figured out how smart I actually am.)

Glenn then breaks down the financial problems that Americans are actually facing using real math and real numbers.

Part 2, The 20 Financial Time Bombs and Social Security in the red:

Part 3, the stimulus package that has not been spent and our debt:

Part 4, the collapse of the dollar:

Part 5, Ben Sherwood of The Survivor’s Club:

Part 6, Ben Sherwood Continued:

Part 7, Iran and tomorrow’s ‘punch’:

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