The biggest wet blanket to date.

Don't bother with the back story - it's just there so you know I didn't pull this out of my ass. Just read the last line - the one in bold.

John Williams of www.shadowstats.com notes that official US deficit statistics do NOT include net present value of unfunded social security OR Medicare expenses. A lot of folks have made a big deal about the US running a $1 trillion deficit this year. Well, if you included the net value of those unfunded Social Security and Medicare expenses we cleared a $1 trillion deficit in 2007, a $5 TRILLION deficit in 2008 and are on course to clear a $9 TRILLION deficit this year.

To give you an idea of how big a problem these deficits are, consider that the US government could tax its citizens 100% of their earnings and NOT have a balanced budget.

Let me explain in simple fucking english for you:

The US government could tax its citizen at 100% of their earning and NOT have a balanced budget.


What? You want a picture?



For fuck's sake. Shit like this makes wet blankery no fun at all.

Seeking Alpha: the coming economic collapse