Should American seniors who’ve been paying taxes their whole lives bear the price of Washington’s folly… while Chinese bondholders get paid ahead of them?
Please see the shocking facts below…
Dear Concerned American,
I’m writing to you today with information every American needs to know…
In fact, must know.
The decisions you make based on this information will be critical to your well-being for many years to come. The kids and grandkids you hold in your arms will be protected (or not protected) by decisions you make today.
And in the near term? It could make the difference between getting the money you’ve worked for or losing it…
Having a nest egg to rely on… or working indefinitely into your 70s…
For some, it could mean the difference between filling up your car with gas or having to take public transportation…
Buying heating oil for your home or having to turn down your furnace for the winter.
And for all of us, it could mean losing the country we love.
You may be skeptical of what I’m about to show you. That’s understandable…
What you’re about to see and hear is not broadcast on the nightly news. Powerful political and corporate interests prevent this from being aired to the public in any serious way.
So please view this with an open mind until you see all of the facts.
People never thought a financial collapse would cost Americans half their savings.
Yet that’s exactly what happened.
So please judge for yourself.
The ending to this story is being written as we speak.
And what happens in the coming weeks and months will determine whether or not 2008 was merely a prelude to a catastrophe a magnitude worse – and a predetermined fate that few seniors are aware of.
The beginning of this story starts with a simple number.
You see, numbers really do have meanings behind them. They stand for real things.
Until recently, the number I’m referring to didn’t mean much to me. I’d heard it bandied about on every financial news outlet and media network throughout North America, Europe and Asia.
I study all this because I’m the publisher of a financial news organization, so it’s my job to evaluate objectively reams of information each and every day.
Like most people, I thought the massive debt of the United States – that $16 trillion number I was referring to – was just an abstraction. A vague idea about government. Something that will all take care of itself in time.
And besides, just look at the markets – how well they’re doing recently.
But then I studied the facts on my own.
Things like Social Security are paid for by the federal government. This year, the federal debt stands at $16 trillion. But here’s the thing:
Last year it was $14.7 trillion… the year before that it was $13.5 trillion… the year before $11.9 trillion… And in 2005 it was $7.9 trillion.
So while our economy has stagnated, this debt has doubled in 7 years.
Okay, I thought. These are tough times. They’re unusual. We can turn this around. And who cares, anyway? A government like the United States is strong. When things turn around, we can pay off the debt and be on our way.
Yet American seniors may have to get in line for the money they’ve already paid.
Just consider that:
- Fannie Mae asks for a new multibillion-dollar bailout every few months…
- Soon the FHA will climb aboard the bailout bandwagon…
- The FDIC lacks the resources to cover insured deposits should more banks fail – another bailout waiting to happen…
- The Securities Investor Protection Corporation (SIPC) insures individual brokerage accounts for up to $500,000… another bailout in the making…
- The Pension Benefit Guarantees Program (PBGP) puts guarantees behind billions of dollars of pensions for corporations… how long do we have before this goes bust?
Of course, all these bailouts are paid for with debt.
And that doesn’t even include the prospect of more bailouts for the failing Post Office… Amtrak… the proposed Federal Infrastructure Bank… the upcoming “Green Bank”… or even the Export-Import Bank. They all add up. And so does the debt.
Right now, for instance, another big bailout is imminent – one that could affect the well-being of millions of people. Public Employee Pensions, you see, are on the verge of defaulting.
According to a 2011 assessment, the shortfall stands at $2.5 trillion across the board. Where will that money come from? Out of the pockets of seniors.
You see, only one state out of 50 is fully funded. Illinois has no way to pay for $54 billion of its $119 billion obligation… California is $59 billion in the hole and climbing… New Jersey’s shortfall is $34 billion… You get the idea.
Now, at this point, I was alarmed, but not “over-the-top” concerned… Until I dug a little deeper…
… and looked at the interest you and I pay on government debt.