Well, I’ve resisted writing about this for too long, and now I see people are waking up to a reality ……. sort of.
Dirk brings this to our attention.
In what seems a lifetime ago, I had articulated this thought many times, usually to the disbelief or lack of understanding by the people I was speaking to.
You know the old rule of thumb about laws–
The more high-sounding the legislation, the more destructive its consequences.
Case in point, HR 3293– the recently introduced Debt Limit Reform Act. Sounds great, right? After all, reforming the debt seems like a terrific idea.
Except that’s not what the bill really does. They’re not reforming anything. HR 3293′s real purpose is to authorize the government to simply stop counting a massive portion of the US national debt.
You see, one of the biggest chunks of the debt is money owed to ‘intragovernmental agencies’.
For example, Medicare and Social Security hold their massive trust funds in US Treasuries. This is the money that’s owed to retirees.
In fact, nearly $5 trillion of the $17 trillion debt (almost 30%) is owed to intragovernmental agencies like Social Security and Medicare.
So now they basically want to stop counting this debt. Poof. Overnight, they’ll make $5 trillion disappear from the debt.
Yes, this is true. Much of our debt is debt to ourselves. There is many schools of thought on this. Many, such as Tyler Durden, recoil at such a thought. It isn’t unreasonable. But, it isn’t necessarily rational, either. Let me explain.
Yes, back in 1935, and in the 50s, 60s, 70s, and up to the present, promises were and are made regarding our money in these government programs, which the money is suppose to be kept separate from the other monies of the federal government.
But, that’s “suppose” to be. It isn’t reality. The fact is our politicians have had their grubby hands in our till for decades. And, as noted, about Medicare, they invent more tills to rob from.
Let me also say this. This notion of simply not counting the debt isn’t a matter of if, or could, or should, it is a matter of when. Estimates vary about when these programs will become or begin to be insolvent. They’re insolvent already. Our pols have robbed us blind. Does anyone harbor the thought that this money will ever be paid back? Of course, it will not be. There isn’t even a plan to do so, not that we could take our government at their word, even if there was such a plan. They’ve demonstrated this for generations.
This should be a lesson for all people who tout some Repub plans to set up government run trust funds. There’s no such thing in reality. In reality, these are just inventions in which our government can use to play money and balance games while robbing the people. It gives them cover and concealment for what they’re really doing to the people.
Social security and Medicare, at some point will be entirely absorbed by the federal government. We just as well do it now and remove a few of the tills in which our politicians play their silly shell games with. It’s a false premise to believe this is our money. It is collected by our government and administered by our government, and dispersed by our government. The money is freely taken and given by our government. In what sane world could we possibly describe this as “ours”, but, that the government is just keeping for us?
Remove the lie. Give these lunatics less room to operate their machinations and thievery. And, save a few $billion on pretend interest payments to ourselves, which we’ll never see. Expose the fraud and the fraudsters, and make everyone, politicians, cleptocrats, and the American people deal with the reality of what is and isn’t.
Yes, by law, by promise, by ……. whatever. But, that’s not the reality. The reality is that most of the American people are allowing our pols to lie to us. Yes, get mad, be outraged, but, do it by addressing reality and no some fictional world our politicians and cleptocrats have created. What they’re doing is creating a double indebtedness to the people. They’re robbing you from one pocket to pay for their largess, with absolutely no intention of ever paying you back. Their intent is to rob future generations until there is simply no more to rob. The longer these things remain a quasi governmental program the more harm to the American people’s finances they will do.
And, while we’re letting not so secret secrets out of the bag, there’s another huge lie which eventually, but, not now, will come to an end. Our Federal reserve. Make no mistake, while private entities may make some claim to it, it is ours. We’re paying them in order to pay them. They’re buying up our bonds to create this faux economy. Let them. If they’re stupid enough to believe the word of our federal government, just like the people were with Social Security, then the end result is on them. It isn’t that I believe we have any moral obligation to these people who would be our masters. We don’t. This was another shell game invented by our politicians and cleptocrats, made wholly for the purposes of wealth extraction from the people. So, Fed, you just keep buying that US debt. We make good on our IOUs, just ask the people who is having their trust funds robbed blind right now. If we’re not going to honor our debt to the people’s trusts, and we’re not, then we’re certainly not going to honor this to a bunch of dumbass bankers who seek to own the US.
All of this is a couple decades away, but, be sure that these days are coming. I pray that at that time, people will understand that the wealth being confiscated is ours to begin with, and reclaiming our property stolen from us by these despicable people, who would seek to rule us by the wealth they’ve stolen, is a moral and just undertaking, and worthy of pursuit.