Unfunded Liabilities Monster - Interview - Reid Rosenthal - Land: For Love and Money - Part 6

Go to http://usUnfundedLiabilities.wordpress.com Unfunded Liabilities Monster Interview - Reid's position is that you need to be investing in land -- even if only a small section -- for two reasons, for love and money. Reid writes in his book Land: For Love and Money and accompanying workbook Green for Green that when there is financial instability the most profitable goods are tangible assets (and what is more tangible than the land itself?) and when there is personal insecurity the openness and beauty of land is the perfect cleanser of your spirit.

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Unfunded Liabilities Monster - Interview - Reid Rosenthal - Land: For Love and Money - Part 5

Go to http://usUnfundedLiabilities.wordpress.com Unfunded Liabilities Monster Interview - Reid's position is that you need to be investing in land -- even if only a small section -- for two reasons, for love and money. Reid writes in his book Land: For Love and Money and accompanying workbook Green for Green that when there is financial instability the most profitable goods are tangible assets (and what is more tangible than the land itself?) and when there is personal insecurity the openness and beauty of land is the perfect cleanser of your spirit.

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Unfunded Liabilities Monster - Interview - Reid Rosenthal - Land: For Love and Money - Part 4

Go to http://usUnfundedLiabilities.wordpress.com Unfunded Liabilities Monster Interview - Reid's position is that you need to be investing in land -- even if only a small section -- for two reasons, for love and money. Reid writes in his book Land: For Love and Money and accompanying workbook Green for Green that when there is financial instability the most profitable goods are tangible assets (and what is more tangible than the land itself?) and when there is personal insecurity the openness and beauty of land is the perfect cleanser of your spirit.

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Unfunded Liabilities Monster - Interview - Reid Rosenthal - Land: For Love and Money - Part 3

Go to http://usUnfundedLiabilities.wordpress.com Unfunded Liabilities Monster Inteview - Reid's position is that you need to be investing in land -- even if only a small section -- for two reasons, for love and money. Reid writes in his book Land: For Love and Money and accompanying workbook Green for Green that when there is financial instability the most profitable goods are tangible assets (and what is more tangible than the land itself?) and when there is personal insecurity the openness and beauty of land is the perfect cleanser of your spirit.

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Unfunded Liabilities Monster - Interview - Reid Rosenthal - Land: For Love and Money - Part 2

Go to http://usUnfundedLiabilities.wordpress.com Unfunded Liabilities Monster Interview - Reid's position is that you need to be investing in land -- even if only a small section -- for two reasons, for love and money. Reid writes in his book Land: For Love and Money and accompanying workbook Green for Green that when there is financial instability the most profitable goods are tangible assets (and what is more tangible than the land itself?) and when there is personal insecurity the openness and beauty of land is the perfect cleanser of your spirit.

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Unfunded Liabilities Monster - Interview - Reid Rosenthal - Land: For Love and Money

Go to http://usUnfundedLiabilities.wordpress.com Reid's position is that you need to be investing in land -- even if only a small section -- for two reasons, for love and money. Reid writes in his book Land: For Love and Money and accompanying workbook Green for Green that when there is financial instability the most profitable goods are tangible assets (and what is more tangible than the land itself?) and when there is personal insecurity the openness and beauty of land is the perfect cleanser of your spirit.

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Our Unfunded Liabilities - What If the United States Was A Man Named Joe?

Joe's Promises

A story about Joe, the man who makes many promises.

There is a man named Joe (J). Joe is a rather spectacular person, or at least he appears to be.

J is well respected and looked up to as a leader and role-model of success, personal power, and financial prowess. Joe has developed such a cache of personal power, that he shares his power by taking care of others in their time of need. J provides strength of character, although the most important way he takes care of others - is financially.

J has a few financial support programs, referred to collectively as Joe's Promises (JPs). Anyone who enrolls in Joe's programs is entitled to a financial promise. It is a great financial promise and many people are coming to rely on Joes's integrity as their sole source of financial support in the certain situations that Joe's promises cover.

Specifically, each member is entitled to money to cover their medical expenses and money to live on after they reach a certain age.

That's right, Joe is promising money.

Want some? Most people do. Why wouldn't you?

So now you have your promises and you feel safe. You've got help with your medical expenses - the most outrageous and damaging expenses of all. When you get old and your energy to produce - ie. your earning power - decreases, you've got Joe to pay you money and keep you safe. And with JPs, you are safe, aren't you?

But wait, there's a problem. Potentially, a big problem.

Problems with Joe

"What's the problem with Joe?" you overhear being whispered between two other members of Joe's Promise. You see, as we learned earlier, Joe (J) appears to be spectacular, although the validity of his magnificence has been growing shakey.

J is a social man and a provider. J keeps his financial records public, for all to see and have confidence in his power...and his promises. The problem is - the people do not have confidence in J's finances. Joe's finances look bad - real bad - and how many people are depending on super solid JPs?

Word got out about J's financial problems and some people have begun to talk about it. Those who know are worried. Angry. Devoid of hope. Shocked. Confused. Dumbfounded. Appalled. Preparing for it all to break loose.

Why? Why such drastic reactions? It's Joe, how bad could it possibly be?

That is exactly what you want to know - how bad could it be - because you're depending on Joe's Promises too.

You quite your thoughts as you hear the other members start getting to the nitty gritty. This is what you learn:

1. J earns $15m/year

2. J has current debt of $14.5m

3. J incurs debt at $0.5m/year

4. J has 1 out of of every 2 people in the community enrolled in Joe's Promises

5. J is promising to pay these people a total of $115m

That's how bad it is. J is promising to pay $115m and only makes $15m - all of which could technically be required to pay J's other debts.

Here's the worst part.

Remember we learned earlier that JPs pay money when people get to a certain age? Well, a bunch of people are about to reach that age - 1 out of 4 people in the entire community. Which means it's time for J to pay up. Yet, according to Joe's financials, not only does Joe not have nearly enough money to pay up...Joe's broke.

All of those people, including yourself, are promised money that Joe does not have.

Upon reflecting on the implications of this horror, your eyes explode wide open, your throat swells, you attempt to swallow the non-existent saliva on your dry tongue, and you immediately rethink your financial life.

"I've got to take care of myself."

From that moment forward you develop income protection and financial self-sufficiency for yourself. J ignores the monster beneath his bed and the people are unknowingly awaiting a surprise.

1. Joe, the United States

2. This story of Joe is a story of the United States.

3. Joe = the United States

4. Joe's Promises = Entitlement programs and Unfunded liabilities

5. Joe's numbers (times) 1000 [income, debt, promises, members] = the numbers of the United States

6. Members of Joe's Promises = the American people

7. You = You, I, and other members of the informed public.

Jelani Asar invites you to prepare yourself with shocking interviews for the economic nightmare of the Unfunded Liabilities Monster at http://usUnfundedLiabilities.wordpress.com. Call for a free income protection quote in Atlanta, Georgia today.

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What If You Personally Had the Unfunded Liabilities?

Bringing the Monster Home

The unfunded liabilities of the US government are so huge and so incomprehensible, it can be extremely difficult to put this monster into proper perspective.

How can you comprehend over $100 trillion? How can you apply the government's financial problems to your own financial situation? How can you imagine the effect of owing money to tens of millions of people - money you do not have set aside for such a purpose?

It's time for us to put these unfunded liabilities into perspective.

Putting it into perspective and bringing the monster down to earth.

Looking at the massive numbers and discussing the problem as one that the United States or the government has, can put the problem out of perspective and disconnect us from the situation. "Oh, that's happening over there, not here. It's a big, lifeless nation, not me. It's not my problem, it's the United States's problem. It's national, not personal." Speaking through the wide-angled lens of economics can have this effect, can it not?

Let's bring this Monster home so we can relate and actually understand the immense gravity of this problem.

What about you.

Suppose this is your situation and you are the United States. How does it feel then? Let's make this real.

Here you are.

You are working day in and day out.

You earn $42k/yr.

You have your home, your car, your pleasures - and you have debt. The bundle of debt that you are most familiar with is equal to $41k.

You have $41k of debt.

You have a family - children, other half - and you also have parents. You are in your early 30s and your parents are in their late 50s. Your parents are about to retire. Also, you have the responsibility of taking care of not only your parents when they are no longer working, but also your other half's parents, as well as various aging cousins, uncles and financially struggling friends. All in all, the number of soon to be retirees dependent on you amounts to 1 out of every 4 people you know.

You have to pay $230k to those dependent on you.

So -

You earn $42k/yr

You have at least $41k in debt

You owe $230k in financial support

This is your situation.

You owe more than 9 out of every 10 dollar you earn - to creditors. On top of this debt, a mass of people is expecting you to pay them a total of 230 times your annual salary in order to take care of themselves in their time of need, which is right now.

This is your situation.

You are the United States.

Now do you see?

Now what do you do?

Jelani Asar invites you to prepare yourself with shocking interviews for the economic nightmare of the Unfunded Liabilities Monster at http://usUnfundedLiabilities.wordpress.com. Call for a free income protection quote in Atlanta, Georgia today.

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What Exactly Are Medicare and Medicaid?

Definition of Medicare

Medicare is another of the entitlement programs funded by tax revenues and allocated by the government. Although, whereas the Social Security program provides general financial support, Medicare provides financial support specifically for medical expenses rather than general living expenses.

Medicare insurance consists of money accumulated through taxation and provided by the government to Medicare recipients who are enrolled in the program because they are considered to have higher than average medical expenses. Those eligible for Medicare include people with lifelong physical disability and people over 65, for example.

Medicare can get quite specific - consisting of four sub entitlement programs - A, B, C, and D, which provide hospital insurance, medical insurance, and prescription drug money. In the interest of simplicity and for our purposes, we will be referring to Medicare as simply Medicare rather than highlighting its more specific components.

Medicare is medial insurance or 'medical care' for the elderly and physically disabled.

In essence, Medicare is a transfer of wealth from the able to the disabled in order to ensure equal opportunity for medical and financial security.

Definition of Medicaid

Although it may be easy to confuse Medicaid with Medicare, these two entitlement programs are similar in kind though vastly different in character.

Whereas Medicare is health insurance specifically for the elderly and physically disabled, Medicaid is akin to the Food Stamp entitlement program in that recipients of Medicaid money must be low-income earners.

I understand that it may not be easy to distinguish between Medicare and Medicaid. What I do to remember which is which is look at the name. Medi-care brings thoughts of physical or health care, such as for the elderly or physically disabled. Medic-aid brings thoughts of financial aid for low-income earners or people with expenses demanding more than their capacity to pay.

In essence, Medicaid is a transfer of wealth from the financial able to the financial disabled in order to ensure equal opportunity for medical and financial security.

To put it simply, Medicare and Medicaid are programs for healthcare money for the elderly, physically disabled, and low-income earners.

Most importantly, Medicare and Medicaid are two of the largest unfunded liabilities - especially the Medicare entitlement program.

Why Shouldn't I Rely on Medicare and Medicaid?

As mentioned earlier, Medicare and Medicaid are two of the largest unfunded liabilities. This means that they the money that millions upon millions of retiring baby boomers and Americans devastated by the debt crisis has not been put aside.

That is why you shouldn't rely on Medicare and Medicaid.

Yes these financial support programs are entitlement programs and although you are entitled this money on paper - that paper is covered in zeros of debt and drenched in red ink. Also, as healthcare costs continue to grow every single year, expect the amount of diminishing amount of money you receive to cover less and less of your medical needs.

Perhaps now is the time to secure your replacement or supplement to Medicare and Medicaid?

Can your body really afford you to not be secured?

Jelani Asar invites you to prepare yourself with shocking interviews for the economic nightmare of the Unfunded Liabilities Monster at http://usUnfundedLiabilities.wordpress.com. Call for a free income protection quote in Atlanta, Georgia today.

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What Exactly Are The Unfunded Liabilities?

Definition of Unfunded Liabilities

Okay, we see the problem, we hear the horror, we sense the danger, and we smell the monster. One question remains - what are unfunded liabilities?

An unfunded liability is a liability or debt that is not covered by an asset (such as income or collateral) of equal or greater value. The debts or liabilities in this case consist of the promises of financial support that the US government is making for the American people. These promises, which are also known as entitlement programs, have numerous forms and can get quite specific.

In the interest of simplicity and for our purposes, the unfunded liabilities or unbacked promises consist of the big three: Social Security, Medicare, and Medicaid.

Tens of millions of Americans are expecting these entitlement programs to provide them financial support and are secured by these promises. Although as indicated in their name, these entitlement programs are unfunded - hence, the money that millions of Americans are expecting, does not presently exist.

Definition of Social Security

As we previously learned when defining unfunded liabilities, these entitlement programs can be quite specific. The Social Security program for example, can be broken down into two major components and many others - each with its own volume of defining characteristics. The two major components that compose Social Security are Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI).

SSDI is money accumulated through taxation and provided by the government to SSDI recipients who are enrolled in the program because they are considered 'disabled'. Those eligible for Social Security Disability Insurance include the blind, widowers, and physically disabled individuals for example. SSDI is meant to provide recipients with financial assistance to fill the gap in opportunity for financial security due to their disability.

In essence, SSDI is a transfer of wealth from the able to the disabled in order to ensure equal opportunity for financial security.

SSI is what we typically refer to as Social Security, that is, when we typically speak of Social Security, we are referring specifically to SSI, not the combination of SSI and SSDI.

SSI or Supplemental Security Income is money accumulated through taxation and provided by the government to SSI recipients who are enrolled in the program because they are considered to have insufficient earning power or opportunity for earning power. Those eligible for SSI include the blind, physically disabled, and people over 65 for example. The key point to note about SSI is that it is a supplement to one's income in order to provide sufficient security for them and thus, the one common characteristic of SSI recipients is - low income.

In essence, SSI is a transfer of wealth from the able to the disabled in order to ensure equal opportunity for financial security.

Big Three Unfunded Liabilities and What They Share

In a nutshell, the common thread of the big three unfunded liabilities (as well as the smaller and more specific entitlement programs) is that they are forms of social welfare and social insurance.

In essence, these promises of money are forms of financial aid for the elderly, physically disabled, and low-income earners. The financial aid comes as a recurring income through a program such as Social Security and a financial safety net through programs such as Medicare and Medicaid.

The unfunded liabilities are the result of a desire to diminish disparities in financial security and the opportunity to meet basic financial needs by necessitating a transfer of wealth from the able to the disabled, as distributed by the government through programs such as Social Security, Medicare, and Medicaid.

Jelani Asar invites you to prepare yourself with shocking interviews for the economic nightmare of the Unfunded Liabilities Monster at http://usUnfundedLiabilities.wordpress.com. Call for a free income protection quote in Atlanta, Georgia today.

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Big Beyond Comprehension - Unfunded Liabilities

How big is this monster?

Just How Much Do the Unfunded Liabilities Amount To?

As we know, the unfunded liabilities monster is composed of three main components. Social Security. Medicare and Medicaid.

There are various calculations of the size of each component, with the total size of the Monster ranging from $22 tr to $118 tr (when including Medicaid).

We are now going to present the various calculations.

Government Accountability Office (GAO) - $30 tr plus Medicaid

Board of Trustees of Social Security and Medicare - $18 tr plus Medicaid

National Center for Policy Analysis (NCPA) - $107 tr plus Medicaid

USDebtClock.org - $114 tr plus Medicaid

Richard Fischer - $99 tr plus Medicaid

So we see that the calculations for the size of the unfunded liabilities monster are quite varied. The monster's size ranges from $18 tr according to Board of Trustees of Social Security and Medicare, to $114 tr according to the USDebtClock.org. As an average, we can say that the monster is either around $30 tr or $100 tr.

Considering the two sources that present relatively low totals of unfunded liabilities are government agencies and may therefore be inclined to downplay the significance of negative numbers through complex calculations or misleading appearances, I prefer to cite the unfunded liabilities monster to be around $100t big or more.

What we also see is that not one of our sources present figures for the unfunded Medicaid promises.

Why Is Medicaid Often Not Included in Calculations of Unfunded Liabilities?

Here's why. There are three main reasons.

Medicaid is considered a social welfare program whereas Social Security and Medicare are considered social insurance programs. For our purposes and for what it means to your pocket and financial security, as well as the potential financial destruction of this country, the detailed differences between social insurance and social welfare - Medicaid and Social Security, Medicare - are unnecessary. You still pay for them through taxes. People are still expecting that money. There still is not nearly enough money to pay them.

To simplify the difference in two words, the difference between social welfare such as Medicaid and social insurance such as Social/Security is that social insurance is much more of a perceived entitlement and is thus much more guaranteed.

Again, we have only learned the differences between social welfare and social insurance because although Medicaid, Medicare, and Social Security combine to form the big three of the Unfunded Liabilities Monster, in your research you may find only Medicare and Social Security presented as unfunded liabilities. We have learned why.

The most important point to note furthermore, is that the detailed differences between the basic types of these social programs are unnecessary information for our purposes. Social welfare and social insurance are both social programs.

It's Almost A Fictitious Number

Once again, these social programs, these debt-financed promises, these unfunded liabilities - are big beyond comprehension. As Matt Allen, the Director of IRA Lending for publicly traded bank told me, "It's almost a fictitious number."

Jelani Asar invites you to prepare yourself with shocking interviews for the economic nightmare of the Unfunded Liabilities Monster at http://usUnfundedLiabilities.wordpress.com. Call for a free income protection quote in Atlanta, Georgia today.

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The Unfunded Liabilities Are Doing What to My Money!?

I Have Confusion, Fear, and Pain

The unfunded liabilities have been a source of confusion, fear, and pain for Americans. Many are not sure what they are. Many are frightened by what they could mean. Many are pained by how they shame our nation.

Let's make this understandable. Simply said, the unfunded liabilities are the entitlement programs of Social Security, Medicare, and Medicaid; furthermore, the government is promising to pay trillions of dollars to people through these programs, yet has none of it set aside for this purpose.

When you research the unfunded liabilities you may find complex and unnecessary technicalities. Just know that the unfunded liabilities are Social Security, Medicare, and Medicaid. And know that the money is not there to pay them.

What Do the Unfunded Liabilities Mean for Me?

What does this mean for you and me? Why again, do we care?

We care because regardless if the name is social welfare, social insurance, Social Security, Medicare, Medicaid, et cetera - people still plan on having that money as their safety net. You are still paying for that safety net. I am still paying for that safety net. The government is still using our money, supposedly to pay for that safety net. The government is still promising to provide nearly 10 times more safety nets than it can actually get from us and supply to the tens of millions of people expecting their safety. The monster may have many faces and scents - although it still stinks and it is still ready to eat our financial future as Americans.

Medicaid is projected to require a total of $4.3t of spending by 2019 according to the Department of Health and Human Services. The projection is definitely a low-ball figure, although the point to remember here is that even though the size of the number is greatly significant, the most important point is that the money to pay for these expenses does not presently exist.

$4.3t may seem like a low payment by comparison to the massive debts of Social Security and Medicare although by comparison to the entire economy of the United State, at around $15t-$16t by 2019, this payment is huge. It is requiring nearly one out of every four dollars composing the US economy.

Actually, in order to keep up the pace with spending projections for Medicaid, the United States would have to cut spending in all other important areas of our economy and our life such as national security and education.

In fact, Medicaid spending is projected to require 67 percent of all spending by the federal government. That means nearly 7 out of every 10 dollars the US government has available to spend must go to the Medicaid entitlement program.

Someone is losing in this situation. Either the Medicaid beneficiaries get their health or the American people get their defense and education. Perhaps neither.

What is your protection?

Jelani Asar invites you to prepare yourself with shocking interviews for the economic nightmare of the Unfunded Liabilities Monster at http://usUnfundedLiabilities.wordpress.com. Call for a free income protection quote in Atlanta, Georgia today.

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The Dreaded Origins of the Unfunded Liabilities and Social Security

Origin of Unfunded Liabilities

What is the nature of the unfunded liabilities monster? What is its history? Well we know that the Monster began growing in the 1940s, at the beginning of the baby boom.

At this time the population in the United States began exploding and the progression towards making enormous promises to enormous numbers of people that simple could not be kept. At this time, and particularly four decades later in the 1980s, taking on more debts and choosing the path of short-sighted financial suicide was becoming a national phenomenon.

To really understand the nature of the Monster, we must look only as far as the history of its components, so that is what we shall do.

Origin of Social Security

The Social Security program was created in 1935. The Social Security Act was enacted by President Franklin D. Roosevelt.

Actually, Social Security (SS) is more formerly known as the Old-Age, Survivors, and Disability Insurance program (OASDI) and encompasses virtually all of the the well-known and most significant social programs of the United States.

For example, although when we speak of SS now we are typically referring to the income supplement, the Social Security Act encompasses such financial aid and insurance programs as unemployment benefits, State Children's Health Insurance Program (SCHIP), Medicare, and Medicaid.

SS is funded by the people, for the people - and merely distributed by government. The funds for this transfer of financial security are accumulated through the Federal Insurance Contributions Act tax (FICA), which most of us know all too well.

Roosevelt brought the program to life in order to lessen the struggle of American financial life at a person's weakest moments - such as during unemployment, single parenthood, and old age. Roosevelt said when he signed the program into existence on television, "This measure, gives at least some protection to 30 millions of our citizens against the loss of a job and against poverty-stricken old age."

As reasonable as Roosevelt's ambition may seem, he was actually the first President of the United States to establish government-administered financial support for the elderly.

Since it was created in 1935, the SS program has only grown - in terms of the quantity of money it is promising and the quantity of people it is promising this money to. As we learned earlier, this entitlement program is funded through tax revenues. The tax revenues become the responsibility of the various trust funds that represent the multiple programs that the Social Security Act encompasses.

To illustrate the growth and increase of significance of SS in the American life, consider this - according to the 2011 annual report by the Social Security Board of Trustees, SS is the largest government financial support program on the planet, the largest expense of the federal budget, and will be supporting over 120m Americans in the next two decades - although it started supporting only 30m.

Finally, we know that the Social Security program is funded through tax revenues. The question is, what happens when there are no funds to fund Social Security?

What happens when Social Security is an unfunded liability?

Jelani Asar invites you to prepare yourself with shocking interviews for the economic nightmare of the Unfunded Liabilities Monster at http://usUnfundedLiabilities.wordpress.com. Call for a free income protection quote in Atlanta, Georgia today.

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Unless You Need A Good Thief, the US Government Is Unreliable

Can I rely on the government for my financial security?

Here is a fiscal response, not a political response.

Fiscally, that is financially and mathematically, the answer to this question appears to be a bold and glaring 'no'.

Why?

We need only to look at the government's fiscal report card to determine its reliability as a source of my financial security. Over the past thirty years the United States government has been engaging in gross over-consumption, to the point of consuming itself - taking you and me with it. Suffice to say, the US government is strongly testing its ability to take care of itself, let alone actually being able to take care of you and me.

The Debt Crisis

Ever since the 1980s the US government has been taking on exorbitant amounts of debt and choosing short-term gain with long-term loss as a habit.

There was a huge spike of debt around World War II, when the many nations involved borrowed and printed enormous sums of money to finance their survival in war. Big debt during times of war is acceptable and expected - in fact, it better be the case of our country is on the line. What is unacceptable and not reasonably expected is the growth of debt following the war to end all wars. The decades following 1945 did not feature major wars yet the debt remained at double the typical peace-time levels and continued to grow from there.

Right now, while you are reading these words, if you can believe it, the federal debt is equal to 97 percent of the GDP. In other words, for every 100 dollars of economic production by the United States, the federal government takes on 97 dollars of debt - and that is just one form of debt.

It took 198 years for the US government to borrow the first trillion dollars and in only twelve years the government has borrowed another three trillion dollars. In 2006, before the greatest explosion of federal spending, simply the interest on the national debt absorbed nearly 4 out of every 10 dollars of our income taxes.

Deficit Spending, It's the American Way

To reflect taking on more debt, the US government has been spending well beyond its revenues, for decades. This is called deficit spending.

It is possible to take on debt and not necessarily be spending beyond your income, for example taking out a loan for your car and paying the debt in pieces that are much smaller than your monthly income.

When the US government is running a deficit and taking on more debt this means that it is accumulating debt in addition to spending beyond its revenue. This would be equivalent to you taking out a loan for your car and taking out a personal loan because you when tallying all of your monthly expenses you find that you are spending more than your monthly income.

The US government has been consistently spending beyond its means since 1960, except for a few periods of sound money management. If we were looking at a chart of US deficit spending, we would see a massive, steep rise in deficit spending at a particular point. You know when that is? Right now.

The US government has been going into high gear with its fiscal irresponsibility and over-spending. In only three years from 2007-2010 the US government increased deficit spending from 1 percent of GDP to 11 percent of GDP. 11 times! Due to unforgettable bank bailouts and spending on social programs that is only planned to increase, exponentially.

Get Your Inflation Here, Get it While It's Hot

The final illustration of the US government's frightening inability to provide my financial security is the increase in our money supply. The government has been taking on enormous percentages of debt, spending well beyond its means, and printing money to cover its debt payments and finance its spending habits.

The US money supply has been consistently increasing for decades and right before 2010 the supply just goes vertical. Again, this growth in the money supply is a reflection of the US government's addiction to excess and ultimately harmful illusions of easy-money.

Even quickly glancing into these three areas is sufficient for you to know that the US government has not been qualified to provide its own financial security and is no more reliable to provide your financial security.

My Government Cannot Even Take Care of Itself

Now, do you think relying on the government is a good idea?

Considering the astronomical and consistent growth in federal debt, deficit spending, and the money supply for decades, to say the least the United States is broke - as a joke. Yet, it is certainly not a joke, because you have to pay the bill. You have to reform the system. You have to cover you own assets or be financial ruined by an unfunded liabilities monster surprise party. I don't know about you - I'm not big on surprise parties, unless the surprise is good. And this surprise is not good.

At all.

The need for personal income protection is paramount.

Is it not?

Jelani Asar invites you to prepare yourself with shocking interviews for the economic nightmare of the Unfunded Liabilities Monster at http://usUnfundedLiabilities.wordpress.com. Call for a free income protection quote in Atlanta, Georgia today.

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Birth of the Disease - The Story of Medicare and Medicaid

Questions About the Unfunded Liabilities

The unfunded liabilities. What is their history? Where on Earth did they crawl from? We know that like a creature spawned from an alien ship crash, the ground in America shook during the twenty straight years of baby booming - and this is when the monster started coming out - attracted by the smell of food.

During the baby boom the population in the United States began to pop. Seeing the spike in Americans, the government decided to ramp up their promises of financial support for all of these people. The result was an enormous ticking time bomb - the unfunded liabilities monster.

From the 1940s moving forward, the government has been piling on financial promise atop of financial promise, and now we are all stuck with a bill numbering in the multi trillions and guaranteeing to swallow our income through ravaging taxation.

Why?

Because the government - our government, any government - has no money. The government is a container and hand of distribution - for your money. That means the government's debts might as well be on your balance sheet. Those tens of trillions of promises are not the government's, they are yours. To fund these unfunded liabilities, expect your taxes to swallow your life, like a vampire.

To really understand the nature of the monster, we must look only as far as the history of its components, so that is what we shall do.

Origin of Medicare and Medicaid

Medicare and Medicaid were created simultaneously. In 1965, three decades following the creation of Social Security, the Social Security Act was amended by President Lyndon B. Johnson to reflect various provisions and two of which were Medicare and Medicaid.

The push for government-administered financial assistance began in the early 1900s and gradually moved into acceptance. The idea has faced opposition in the United States largely because it is a distinctively socialist idea a bit outside the capitalist limits and individualist principles of this country.

Part of the gradual acceptance of medical insurance programs is due to the economic need of the nation, regardless of the political desires of the people. Specifically, the cost of healthcare has been growing out of control - out of people's pockets and causing them to enter into bankruptcy - and people are living longer - thereby increasing their trips to the doctor and chances of being bankrupted by medical expenses.

In a nutshell, the entitlement programs exist as a form of financial support during your greatest times of need - when your health is in danger and when you have no income upon retirement. The problem is that these safety nets, these liabilities - are unfunded - meaning there is not nearly enough money to provide for these people when they need it most.

Jelani Asar invites you to prepare yourself with shocking interviews for the economic nightmare of the Unfunded Liabilities Monster at http://usUnfundedLiabilities.wordpress.com. Call for a free income protection quote in Atlanta, Georgia today.

Article Source: http://EzineArticles.com/?expert=Jelani_Asar

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Unfunded Liabilities Made Easy

What Is the Unfunded Liabilities Monster?

The unfunded liabilities monster is the sum total of financial promises the United States government is promising to keep, although it has basically none of the money it is promising to pay.

The unfunded liabilities monster is composed of various social welfare and social insurance programs, with the largest and most well-known being the big three - Social Security, Medicare, and Medicaid. These programs are holding promises to provide financial support to the elderly, physical disabled, and low-income earning Americans using taxation of the American people.

What is the problem? Why is it the unfunded liabilities monster?

The unfunded liabilities are liabilities because they are promises to pay and unfunded because there are no funds to pay them.

Making the Monster Real

Here is a simple way to see the monster and make it real.

Make a list of all the liabilities you are expected to pay for the next five years, such as your mortgage, car loan, school loan, and credit card debt. For each liability, write out the amount you are expected to pay year by year. Now, move from each payment year by year and erase it if you have a plan to pay that money. For each payment you do not have a plan to pay for, circle.

If for example, you are planning on increasing your liabilities over the next five years by purchasing a car or a home and you do not plan to increase you income correspondingly, then by going through this exercise you would see that when you take on those added payments you will be expected to pay out more than you bring in.

In order to cover these costs you must either cut the costs, reform the payment programs, sell your assets for extra income, or take money from another area such as your discretionary spending, health insurance, or even food money in order to cover these extra liability payments.

Imagine going through this exercise and seeing nearly all circled payments and having the majority of these circled payment exceed your allotted ability to pay by multiples. In this case, you are the United States.

You have an enormous amount of liabilities to pay and you simply do not have nearly enough money to pay them. In fact, you are expected to pay at least 10 times more than you actually can. Your liabilities are unfunded and they are monstrous.

Over the coming decades and starting before you began are reading these words, through the unfunded liabilities monster the US government is promising to provide at least 10 safety nets for every 1 safety net it is planning to collect from the American people through taxation.

What happens as people who are expecting their financial safety net fall through a mirage of insufficient federal funds? Their financial body shatters and the unfunded liabilities monster licks up the crackled carcass.

How Big is the Unfunded Liabilities Monster?

Although there are various calculations for the sum total of the unfunded liabilities as well as questions regarding Medicaid's technical status as a quote 'unfunded liability', we can reasonably conclude that the size of the unfunded liabilities monster is over $100 tr including Medicaid - a figure that is at least 7 times the entire economy of the United States, let alone the comparatively miniature sum of typical tax revenues.

Questions Deeper Than Money

These promises are looking rather shaky, are they not? Since these unfunded promises are coming from the government and they are supposed to be support for the people, the sight of this Monster raises a few important questions beyond financial matters and into philosophical concerns, such as:

Can we rely on the government for our financial security?

Are we relying on the government for our financial security?

Why are we relying or not relying on the government for our financial security?

Our next and perhaps most personal step is to take on these potentially paradigm-shifting and life-liberating questions.

Jelani Asar invites you to prepare yourself with shocking interviews for the economic nightmare of the Unfunded Liabilities Monster at http://usUnfundedLiabilities.wordpress.com. Call for a free income protection quote in Atlanta, Georgia today.

Article Source: http://EzineArticles.com/?expert=Jelani_Asar

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Unfunded Liabilities Monster - Interview - Jim Bacon - Boomergeddon - Part 4

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Unfunded Liabilities Monster - Interview - Jim Bacon - Boomergeddon - Part 3

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Unfunded Liabilities Monster - Interview - Jim Bacon - Boomergeddon - Part 2

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Unfunded Liabilities Monster - Interview - Jim Bacon - Boomergeddon

Go to http://usUnfundedLiabilities.wordpress.com Unfunded Liabilities Monster interview with Jim Bacon. Jim is the author of Boomergeddon: How Runaway Deficits and the Age Wave Will Bankrupt the Federal Government and Devastate Retirement for Baby Boomers Unless We Act Now.

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Unfunded Liabilities Monster - Prepare Yourself

Go to http://USUnfundedLiabilities.wordpress.com Unfunded Liabilities Monster - Know the Monster. Prepare yourself. Protect your income. Go through this tour of the Unfunded Liabilities Monster Blog (wordpress).

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Hey, I'm Jelani

Hey,

My name is Jelani. I am 22 and I live in Atlanta, Georgia.

I am an economics enthusiast, with a particular focus in the debt crisis of the United States.

My business is personal income protection, hence my username is 'incomepa' (Income Protection Atlanta). My teammates and I represent Aflac - you know, with the duck.

Connect with me on LinkedIn! - http://www.linkedin.com/pub/jelani-asar/2a/8a0/577

LinkedIn Group - National Inflation Association Users

My websites include:

The Unfunded Liabilities Monster YouTube Channel

The Unfunded Liabilities Monster Blog

Income Protection Atlanta

My interests and hobbies include - economics, social policy, personal finance and investing, selling, neuro-linguistic programming (NLP), entrepreneurship, internet marketing, natural and herbal diets, bodyweight excersises, and outdoor exercise such as biking.

My favorite books are Rich Dad's Guide to Investing, The Richest Man in Babylon, The Creature from Jekyll Island, The Secret Language of Destiny, Vibrant Health, Colon Health, Breaking the Money Barriers, and The Greatest Salesman in the World.

My favorite movies are IOUSA: Under Stress. In Debt., The Matrix, Braveheart, and Rich Schefren's Incremental Advantage.

As I was researching the debt crisis of the United States, especially the monstrous problems of Social Security, Medicare, and Medicaid, I realized that the tens of millions of people relying on the money from these entitlement programs are likely to be out of luck.

Since they need and want their income protection and they are not getting it from the government, then my teammates and I - the solution we are providing - has become especially necessary and desirable.

Recognizing this connection, I decided to connect my interest - US economics - and my business - income protection in Atlanta, Georgia.

Now I am developing a website about the 'Unfunded Liabilities Monster' of the US debt crisis and marketing our income protection solutions on the internet.

I interview top experts on the debt crisis and on the ways each one of us as Americans can make a difference in our national and personal economy.

Experts such as Matt Allen, the Director of IRA Lending for North American Savings Bank (NASDAQ:NASB) and author of Leverage Your IRA: Maximize Your Profits with Real Estate; Reid Rosenthal, generational land investor and author of Land: For Love and Money; and Gaylon Ross, former 1st Lt. in the Army Security Agency (ASA), industrial engineer, International Management Consultant in Iran, founder of Ross International Enterprises, and author of What the Elite Have Done to America and How to Fix It.

I am also learning all I can about marketing our income protection solutions on the internet, so we can assist as many people as possible as quickly and easily as possible. I believe the internet is the way to do this.

For more information about how $115t debt known as the Unfunded Liabilities Monster affects you as a baby boomer with no financial support or a young person with the responsibility of paying to provide that support, then head over to The Unfunded Liabilities Monster Blog http://usUnfundedLiabilities.wordpress.com

For more information on how you can protect your income from the rabid theft of your retirement, savings, and job during this economy as well as protect yourself from the exposure to risk while your savings are low, your expenses are high, your healthcare costs are only rising, and your taxes are digging deeper, then head over to Income Protection Atlanta for a free income protection quote - http://IncomeProtectionAtlanta.wordpress.com

For great videos on both the Unfunded Liabilities Monster and Income Protection, then head over to my YouTube Channel - http://www.youtube.com/user/UnfundedLiabilitiesM?feature=mhee#p/p

Thank You,

Jelani Asar

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