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Jun262014

Social Security Reform - free article courtesy of ArticleCity.com



Social Security Reform

 by: John Koraska

Debtism - The Legacy of Perpetual Debt is the American government's bequest to its hard working people. The practice of debtism has caused the USA to become the world?s leading Debtor Nation. This did not happen because the nation is poor or in recession. The path from creditor nation to debtor nation is the direct result of faulty tax and welfare schemes that reward debt, penalize savings and erode the rights of a free people. The Social Security program provides prima facie evidence of how the U.S. economy has evolved from a system of ownership and free enterprise to socialism and debtism.

Warning of Perpetual Debt

?I place economy among the first and most important virtues and public debt as the greatest dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt. If we can prevent the government from wasting the labor of the people, under the pretense of caring for them they will be happy.?

--- Thomas Jefferson

United States of America - Debtor Nation

Recently, the cap (debt limit) on official U.S. debt was raised to $8.2 trillion (12 zeroes). Government?s power to transfer wealth from one to another (regardless of equity or need) has grown exponentially since the advent of Socialism during the last Great Depression.

It took this nation 205 years (1776 ? 1981) to accrue $1 trillion ?on-budget? national debt. It has taken only 23 years (1982 - 2004) to add an additional $6.5 trillion. On Dec 28th, 2004, the, on-budget (official) debt was $7,536,267,845,909.18; but this is just the tip of the iceberg. Under-funded or un-funded government liabilities amount to a significant multiple of the official debt. Recent studies provide a flavor of the almost inestimable trillions in shortfalls. An example:

The Treasury Papers, a study that former Treasury Secretary Paul O?Neill commissioned record:

"A fiscal gap (the present value difference between government?s projected expenditures and receipts) of over $44 trillion ? now more than $50 trillion thanks to the new Medicare drug benefit. Almost all the un-funded debt is a consequence of Social Security Retirement and Medicare benefits. Medicare now faces an imbalance exceeding $36 trillion. That is the amount of money in present value that Medicare is projected to pay out for future benefits in excess of the money in its trust fund, plus the money it is projected to collect in future taxes and premiums. Social Security's imbalance exceeds $7 trillion?.

These estimates do not include inadequate funding of the military and Civil Service retirement programs, Supplemental Social Security (SSI) nor the Medicaid program that is growing faster than Social Security. While adverse consequence of Debtism is already being felt by millions of Americans, the worse is yet to come. Under current tax and welfare schemes, those who save and contribute to Social Security, IRA?s, 401k?s, etc. will increasingly subsidize those who do not. Only significant changes in law or those who enact them can alter the trend toward a welfare state.

Debtism n 1. A corrupt economic system that increase debt and reduce saving by reward and punishment, incentive and disincentive. 2. A tax system that destroy thrift (saving) and encourage profligacy (debt). 3. A practice of perpetual government borrowing to sustain a consumerist driven economy until the currency collapses. 4. Demonetized, fiat currency (no gold or silver backing) that decreases in value over time. 5. Trust Funds overflowing with debt instead of certificates of ownership (i.e. stock and bonds).. Exemplified by pyramids of debt at all levels of society, erosion in capital formation and meager savings by the general public and long lines at bankruptcy courts.

See for more articles on social security.

About The Author

John Koraska, MSGT, United States Air Force, retired. I have studied Social Security and the economy for over 20 years since my retirement in 1975 from the military. With the current debate of social security, I enlisted my two sons to help me with getting the word out on my take on how to reform this broken system. Come see my site and spread the word at Comments are welcomed and appreciated!

This article was posted on March 13, 2005

<< Back to "Business And Finance" Index


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Jun252014

Utah House Passes Bill Recognizing Gold, Silver as Legal Tender



gold coins

The Utah House was to vote as early as Thursday on legislation that would recognize gold and silver coins issued by the federal government as legal currency in the state. (AP)AP2008

Utah took its first step Friday toward bringing back the gold standard when the state House passed a bill that would recognize gold and silver coins issued by the federal government as legal currency.

The House voted 47-26 in favor of the legislation that would also exempt the sale of gold from the state capital gains tax and calls for a committee to study alternative currencies for the state.

The legislation now heads to the state Senate, where a vote is expected next week.

Under the bill, the coins would not replace the current paper currency but would be used and accepted voluntarily as an alternative.

If the bill passes, Utah would become the first of 13 states that have proposed similar measures. The others states are Colorado, Georgia, Montana, Missouri, Indiana, Iowa, New Hampshire, Oklahoma, South Carolina, Tennessee, Vermont and Washington.  

Backers of Utah's bill say they want to send a message to the rest of the country.

"People sense that in the era of quantitative easing and zero interest rates, something has gone haywire with our monetary policy," said Jeffrey Bell, policy director for the Washington-based American Principles in Action, which helped shape the bill.

"If one state recognizes gold as a valid currency, I think it would embolden people not just in other states but in Washington," he said.

The U.S. used the gold standard from 1873 until 1933, when President Franklin D. Roosevelt outlawed the private ownership of gold amid the Great Depression. President Richard Nixon abandoned the gold standard altogether when he announced in 1971 that the U.S. would no longer convert dollars to gold at a fixed value.

Critics of the gold standard say it limits countries' control over its monetary policy and leaves them vulnerable to financial shocks, such as the Great Depression. But supporters argue that the current financial system's dependence on the Federal Reserve exposes the value of U.S. money to the risk of runaway inflation.


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Jun242014

Business :: IBD or Wall Street Journal Subscription Choices - Uncover The Best Option



Basically, for first class financial data and timely investment assistance for testing the waters, you will find only two leading financial dailies to choose from, namely the Investors Business Daily (IBD) or a Wall Street Journal Subscription. So which can be the very best option?

Personally, the Wall Street Journal delivers much more facts. It truly is a considerably thicker paper, has far more staff writers and coverage for global reports, emerging technologies, breakthroughs in the scientific and professional medical communities as well as political coverage. Count on specialized insight that could affect your individual investments and enable to sculpt your sector attention.

Both papers are priced similarly and both have a web based subscription selection. Nevertheless using the Wall Street Journal, anyone will get the print and on the internet subscription for 80 percent off when buying on the internet. There's also the prospect of purchasing the print only or the over the internet only solution.

Looking at expense, the print and online costs $2.99 per week (for the 80% off bundle price) which translates to $154.48 for the year. The print only news version is $2.29 per week with the on the net version selling for $1.99 per week (annually that amounts to $103). For any choice, two free weeks are given.

Some of the notable columns and features include, "Heard on the Street," "Inside Track," "Long and Short," "Stock Watch," "Trading the Numbers" to identify several. One will get accurate coverage on options, stocks, bond rates and credit markets as well as futures and commodities. You will find stock screeners, mutual fund screeners, ETF investigation and screeners as well as drilling down into specific stock financial analysis and corporation studies plus way more.

The journal is sent to your home or dorm 5 days per week plus you get hold of the weekend edition that is delivered on Saturday to any address of one's choosing. You'll be updated on breaking reports that's regularly updated by the world's leading business publication.

The maximum discounted Investment Business Daily (IBD) subscription normally requires a 3-year contract and sells for $789.00. It has fewer features, charges a lot more and has countless fewer pages. Why settle for second best?


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Oct122013

Timeline Of Game Consoles

Really shortly soon after this release, constant demand saw the showcasing of "Sonic and the Black Night" after the a lot acclaimed "Sonic and the Secret Rings". This presented a couple of spoilers for a story book by the very same name which proved a extremely lucrative spin-off. In this version of the game, Sonic acquires the ability to turn into a "werehog". This was followed by the release of Genecyst, which was an emulator for the Sega Genesis. The American arm of Nintendo utilised to ban games such as Dragon Warrior, Doom and Mortal Kombat since they had religious references or as well significantly violence and blood. The Wii has Nintendo's Virtual Console which can play old Nintendo and Sega games on the new program. His name has even filtered into science. As research into entomological improvement has had researchers named a single of their recent discoveries the "Sonic Hedgehog" gene. Like in the movie Extra Terrestrial where the alien followed Hershey's Reese Pieces to his new property.
splinter cell 6

Even though the game provided no thrill except for white content material visible on a screen so that you can signify finish in the road. It was only inside the year 1984 how the actual thrill if drive gaming hit the markets manufactured by Attari. Even though as quickly as compared towards the hard technologies and requirements driving these days's world, the driving games set the trend for your flourish with the video games and also the property based personal computer games that are the following to remain to your following few years. If you intend to commit your Wii Points on getting these classic games, this list of games will surely come handy for you. It will not just support you make a decision, but make certain that you save your useful time. With 378 odd titles to decide on from, selecting the greatest is no doubt a Herculean activity. The very first mention need to be of the animated series that featured our beloved blue hero and his group of buddies. You can see Sonic The Hedgehog in a lot of of the Sony's games which are not the portion of the Hedgehog series. This was the desire of men and women that they wanted to have Sonic The Hedgehog in many games of Sony to have entertaining and entertainment.
sega
An innovative approach to Sonic the Hedgehog games in which Sonic has been boldly equipped with speaking sword, and sent back in time to the middle ages to discover the land of Camelot and King Arthur. It was the first console to sell one hundred million units worldwide. It really could do no incorrect, with great graphics, games, and just in common the very best console vs Sega and Nintendo. The device is going to be rather high-priced although, as it will price nearly $100 to own one particular. At least as far as residence hardware goes, since they nevertheless make Arcade hardware. Fans fell in adore with Sony's console, and the sales reflected that fact.

All the gamers felt that this character had quirky attractiveness and it was a actual fun to make this character fidget about. The pink-haired protagonist charmed gamers with her musical, memory-based gameplay and catchy songs. Even though you may be tempted to buy a gaming system at a local yard sale or other secondhand sale, but you are playing with the odds- the reduced the price tag on the program, the far more likely that the program is broken or missing beneficial parts.

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Oct112013

Buying Used Nintendo DS Games

So I just signed up for lifetime membership for 39 bucks. I am so glad I produced that selection these days. I have now hundreds of games and download new games day-to-day. It has been created and manufactured by Nintendo. We have place forth a list of the top-rated games of all time. For your comfort, we have classified these beneath various categories. The Wii remote's steering controls coupled with the program's vibrant, stylized graphical forte would be a excellent match. Lacking significantly of a continuity, a spin-off would be a fine revival if a full-fledged sequel wasn't attainable. Today opinions on Sega are split.

The industry was suddenly revived, with several gamers produced acquire of an Atari video game technique just for Space Invaders. In other words, with the reputation of Space Invaders, Atari dominated the video game sector all through the 80s. It supported full color, high resolution, and tiled background gaming technique. But in contrast to Sega, Sony wouldn't have epic fails adhere to the release of PlayStation. These consoles have also provided an option to the outdoor games. They are fantastic pastimes. The 1st mention need to be of the animated series that featured our beloved blue hero and his group of buddies. You can see Sonic The Hedgehog in a lot of of the Sony's games which are not the portion of the Hedgehog series. This was the desire of individuals that they wanted to have Sonic The Hedgehog in several games of Sony to have fun and entertainment.

sega
It's hunting quite effectively, from the trailer anyways. Capcom: Clash of the Super Heroes has a lot of cross-over appeal. The 20 games that it does consist of are a excellent mix with older and newer games as effectively as like many genres. But however, the eyesore identified as Virtua Fighter 2 for the Sega Genesis was released for thousands of Wii owners to potentially download. The Totally Unhip All parents aren't cheap and mean nicely, but when sent out to buy a Nintendo Wii; they'll return residence with a baffling Sega Zone gaming console. The explanation this happens is due to the fact the parents are entirely clueless and unhip to existing technology.
sega
Gameplay is fast and hectic as you have to rapidly weave by way of visitors. When the organization imported coin-operated instant photo booths, it stumbled on a surprise hit: The booths were very popular in Japan. Shenmue requirements to breathe life on a modern day console.

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