No, You obviously can't read for meaning. The burden on future tax payers is from the current 127 in unfunded liabilities.
"The federal unfunded liabilities are catastrophic for future taxpayers and economic growth. At usdebtclock.org, federal unfunded liabilities are estimated at near $127 trillion, which is roughly $1.1 million per taxpayer and nearly double 2012’s total world output".
For an atheist you sure use 'God' allot! Are you even confused on that too? One can see why see why you decided to stay at home and suck off mommy and daddy. Never had a job, but retired from doing nothing. A welfare success story you are Craigie. So look into the mirror and you will see a moron!!
WASHINGTON – The U.S. and global recoveries have been "disappointing" so far and may point to a permanent downshift in economic potential, U.S. Federal Reserve Vice Chair Stanley Fischer said on Monday.
In an overview of the years since the 2007-2009 financial crisis and recession, Fischer said a slowing of U.S. productivity, declining labor force participation and other factors may have scarred the United States' ability to generate economic growth.
The same thing may be happening for different reasons in Europe, major emerging economies like China, and elsewhere, he said, forcing central bankers to recast their understanding of inflation, employment and growth in general.
"The global recovery has been disappointing," Fischer said in prepared remarks for a speech to an economic conference in Sweden. Long-run annual growth in the United States may now be perhaps as low as 2%, a full percentage point below the estimate of Fed policymakers as recently as 2009, he said.
Some of that may represent temporary factors that will change if, for example, the U.S. housing market improves.
"But it is also possible that the underperformance reflects a more structural, longer-term shift in the global economy," Fischer said.
Fischer, the influential new No. 2 official at the U.S. central bank, outlined the challenges facing monetary policymakers as they try to navigate the end of the unconventional methods used to support the economy in recent years.
It remains uncertain, he said, whether lower productivity growth and lower labor force participation rates are now permanent features of the U.S. economy - complicating estimates of growth, inflation, and the amount of slack in labor and product markets.
The more than $4 trillion in assets now held on the Fed's balance sheet, he said, will also make it more difficult to manage short-term interest rates. He added that he believes the Fed has developed a suite of tools, such as the interest paid on overnight bank reserves, that
Oh this is rich!
A top Defense Department official acknowledged Monday that U.S. airstrikes in Iraq are unlikely to affect Islamic militants’ “overall capabilities” or their operations elsewhere in Iraq and Syria but rebuffed calls to expand the mission.
Lt. Gen. William Mayville Jr., director for operations with the Joint Chiefs of Staff, described a stay-the-course approach during a briefing with reporters Monday afternoon. He spoke four days into a renewed U.S. airstrike campaign in northern Iraq meant to drive back militants with the Islamic State (IS), the group formerly known as ISIS.
Mayville said Air Force and Navy aircraft have conducted 15 “targeted strikes” to date and “helped check” IS advances around the cities of Sinjar and Irbil.
He said the strikes have “slowed” the group’s “operational tempo and temporarily disrupted their advances towards the province of Irbil.”
However, he said, “the strikes are unlikely to affect [IS’] overall capabilities or its operations in other areas of Iraq and Syria.”
Maybe a personal letter from our 'Commander In Chief' to tell them to stop or else would work better.
President Obama’s decision to launch airstrikes in Iraq, while backed by senior Hill leaders, has only underscored for his critics the consequences of waiting as long as he did to counter the growing threat of militants with the Islamic State – a group he once dismissed as a “JV team.”
Now, the commander-in-chief is being pressed by Republicans and some hawkish Democrats to commit to battling the organization, whose territory stretches from Iraq to Syria, long-term and overhaul what until last week was a wait-and-see approach.
Since the president announced Thursday that he’s authorized airstrikes in northern Iraq to protect American personnel and help religious minorities trapped by Islamic extremists, the U.S. military has carried out a series of attacks on Islamic State (IS) targets. In the latest, U.S. fighter jets took out several vehicles in a convoy moving to attack Kurdish forces late Sunday. The U.S. also is providing weapons to Kurdish security forces.
The president, while pledging not to put boots on the ground, acknowledged Saturday before heading to Martha’s Vineyard that it would take more than “weeks” to “solve this problem.”
“I think this is going to take some time,” the president said.
Asked whether he underestimated the threat, Obama said “there is no doubt that their advance, their movement over the last several months has been more rapid than the intelligence estimates and I think the expectations of policymakers both in and outside of Iraq.”
But critics say the warnings were apparent for a long time
“Short term, yes, the president is doing fine. Long term, this is a president who underestimated ISIS, he called them JV,” the National Journal’s Ron Fournier told “Fox News Sunday.” “He's been the commander-in-chief or the under-estimator-in-chief.”
Intelligence always seems to be lacking with coach Obama's Team. Late for the game, can't even dribble a ball down court without fouling out.
Subject just blew right over your head didn't it Craigie? Don't matter how long it took, the current number is 127 trillion! Ask cities like Detroit, how unfunded liabilities matter. As for your silly misdirection comment on 400 trillion of wealth, it has no basis of fact, is not a "concept used by wealthy", again no basis in fact! The total wealth of the country you keep harping on has nothing to do with 'unfunded liabilities'! You keep thinking the "wealth" that's been earned by others, is something the Government can just dip into at will. If that was the case, Democrats would have done it years ago, of course exempting themselves!
You of course would be overjoyed at seeing it happen, then we all would be riding Government issued bicycles, like you do. Just more silly chatter from a liberal windbag who enjoys lying and misdirection of peoples posts.
(Reuters) - Distancing herself from President Barack Obama's foreign policy, potential 2016 U.S. presidential candidate Hillary Clinton said in an interview published on Sunday that the U.S. decision not to intervene early in the Syrian civil war was a "failure."
Republican critics and others have faulted Obama for doing too little to support Syrians who rose up against President Bashar al-Assad. Syria has been torn apart by a civil war for three years, with Assad staying in power and Islamic militants among the opposition gaining strength.
"The failure to help build up a credible fighting force of the people who were the originators of the protests against Assad - there were Islamists, there were secularists, there was everything in the middle - the failure to do that left a big vacuum, which the jihadists have now filled," Clinton said in an interview with The Atlantic.
Clinton was Obama's secretary of state during his first term as president, stepping down in early 2013, so she was part of the administration during the start of the Syria uprising. Seen as a possible strong contender for the 2016 U.S. Democratic presidential nomination, she ran unsuccessfully against Obama for the party's nomination in 2008.
Asked about Obama's slogan of "Don’t do stupid stuff" to describe his foreign policy thinking, Clinton said, "Great nations need organizing principles, and 'Don’t do stupid stuff’ is not an organizing principle."
In the interview, Clinton also offered strong support for Israel and for Prime Minister Benjamin Netanyahu, who has a tense relationship with Obama.
Israel has drawn international condemnation for the deaths of Palestinian non-combatants in Gaza and the destruction of thousands of homes during its month of war with the Islamist movement Hamas. The Obama administration, while supporting Israel's right to defend itself, has rebuked Israel at least once during the current conflict over the deaths of civilians.
Pure, buy SDRL anything under $36 should be a lock. Month to EX and most time has a good run. And-
NEW YORK (TheStreet) -- SeaDrill (SDRL_) was gaining 1.7% to $36.33 Friday after announcing it won a two-year $497 million contract from Exxon Mobil (XOM_).
The contract covers the employment of the newbuild ultra-deepwater drillship West Saturn in support of the ERHA North Phase 2 project in Nigeria. The rig is currently under construction at Samsung Heavy Industries in Geoje, South Korea, with an expected delivery date of September 2014.
They best in business, update rigs, strong contracts. I am in 35.63 and will add under $36 to 10K. Div is 100% safe. Looking for $38 on this run unless market melts down.
'82 Trillion in wealth' Craigie keeps talking about is a totally meaningless retort, argument, or even subject for conversation. Reason being, that wealth has been earned by ones labor, risk taking, and taxed many times over. So until the Government decides it's in it's best interest to confiscate outright that wealth, only someone of Craigies demented thinking would bring it up.
Overall, U.S. household net worth climbed to a record high of $82 trillion in the first quarter, but things aren't going so great for the middle class.
Jordan Weissmann of Slate cites two studies that illustrate this fact.
One comes from the Russel Sage Foundation and shows that median household net worth dropped about 20 percent from 1984 to 2013, when the figure totaled $56,335.
Editor’s Note: Retire 10 Years Earlier With These 4 Stocks
The second report, from New York University economist Edward Wolff, shows that by 2010, median household net worth had dropped to its lowest level since at least 1969. Net worth plunged 47 percent between 2007 and 2010 alone, he states.
Those four years included the housing bust and the 2008-09 stock crash, which hammered many Americans. The huge rise in household debt in recent years also put a crimp in household net worth.
Consumer credit outstanding rose to $3.2 trillion in May from $2.6 trillion in 2009.
As for the record level of overall household wealth in the first quarter, rising stock prices, rising home values and rising employment gave Americans a boost, experts say.
"The deleveraging on the consumer front has largely run its course, and we've obviously been helped by the run-up in financial assets," Omair Sharif, a U.S. economist at RBS Securities, tells Bloomberg. "Balance sheets have been improving pretty substantially over the last few years."
Household net worth now exceeds its 2007, pre-recession peak of $68.9 trillion by $12.9 trillion.
Now Government needs to figure out how to steal all that wealth so we all end up poor! Keeping Democrats in office is a sure means to that end.
In Government, telling the truth is looked on as a liability. Reporting corruption gets you fired, covering up corruption gets advancement in Government. Donating big money gets you an ambassadorship even though your not qualified to even figure out how to shake a hand.
Never autoplay videos
President Obama touted the newly passed Veterans Affairs reform bill Thursday as he signed the measure into law and lamented the scandal that triggered it.
But a review of records by Fox News shows the president – despite the urgency he placed publicly on the crisis – only met one-on-one with then-VA Secretary Eric Shinseki once during the scandal.
The records, provided through a Freedom of Information Act request, showed they met on May 30, the day Shinseki resigned.
VA records show Shinseki also attended Cabinet meetings on Jan. 14 and Jan. 22.
The revelation comes as lawmakers, on the heels of passing the bill that Obama signed Thursday, press the president to commit his administration to fixing the department.
“I am pleased President Obama has finally recognized what we have been telling administration officials for years: that VA’s widespread and systemic lack of accountability is jeopardizing the health of veterans and contributing to all of the department’s most pressing problems,” Rep. Jeff Miller, R-Fla., chairman of the House Veterans Affairs Committee, said in a statement. “But I sincerely hope the president views this event as more than just a photo-op or speaking engagement. LOL, Oh Sure!!
The State Department has reportedly approved a contract worth up to $545,000 to help train department officials to effectively testify at congressional hearings after a series of poor performances.
The Washington Times reports that the department has hired a company called AMTIS, Inc. to train staffers to effectively speak with lawmakers and testify at congressional hearings.
According to the Washington Times, the contract included classes, such as “Communicating with Congress: Briefing and Testifying,” which will be taught by instructors with Capitol Hill experience.
It also includes individual sessions, which include mock hearings where officials can testify in front of a panel of experts, who will then critique them on their performance.
According to its website, AMTIC, Inc. provides “federal and state agencies with innovative, high-quality, and affordable products and services while continuing to serve our nation.”
A spokeswoman for the Citizens Against Government Waste told the Washington Times the training shouldn’t be necessary, because all the officials need to do is testify “truthfully, honestly and thoroughly.”
“It’s not ‘The Charlie Rose Show’; it’s not ‘The View,’” Leslie Paige told the Washington Times. “It is congressional testimony. So just cough up the facts, because that’s all we really need from you.”
The reported contract followed a series of embarrassments for the department at congressional hearings.
Earlier this year, the White House faced harsh criticism about a handful of President Obama's ambassador nominees who have scant knowledge or expertise about the nations where they would serve, amid heightened scrutiny of the time-honored presidential practice of selecting political donors and friends for these high-profile posts.
Several of Obama's recent ambassadorial nominees were high-dollar campaign fundraisers and donors for the president, raising concerns they were rewarded for their lucrative political support.
GEE, YOU THINK?
Craigie, you obviously eat, drink and have nightmares about the 'Tea Party'. It should start to sink in that they have lost about every election candidate they have supported as of late. The power that once was, is no longer the case. Just because you disagree with everyone, does not mean they then all belong to the 'Tea Party'. Move on with something new to chew on! Gets boring, but I guess being a bore is what you do best.