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There is no easy way to say this, but the country that some of us love is broke.  Not broke in the whimsical sense or even shock value sense, but really broke.  To illustrate the example clearly, let's say you have a decent job and are making about 80k/year.  Not bad right?  Even living on the east coast you can achieve a comfortable living for yourself.  Go buy a a new Mercedes - you deserved it!   But wait, you have promised certain people that you will take care of their retirement and medical needs and they depend you, after all they did pay you premiums their entire life.  You can't very well back out on this promise now, they have completely changed their lives and need you to pay up.  You then discover that the cost of these obligations is anywhere between 640k-800k just for this year alone.  Should you get rid of that Mercedes or go trick more people into paying you premiums promising that you will take care of them?

This is essentially what is happening to our government, but we not talking about thousands we are talking trillions of dollars.  In a recent report published by Sprott/Franklin the situation is absolutely dire and getting worse. Yet something more sinister is in the works, at least in my humble opinion and this is ObamaCare and to a lesser extent Cap and Trade.  Many of us have wondered why there is a frenetic push to get this bill passed, why do lawmakers refuse to read the bills and why is there a sense of urgency about everything.  Yes, we realize that several million people are uninsured, but there is nothing new about this phenomenon.  Costs may be rising, but all costs are rising so that cannot possibly be the explanation.  What gives? Where is the crisis?  In virtually every poll a majority of Americans are content with their coverage and believe reform will increase costs! This is very important to understand, the crisis is not in health care, the crisis is in the entire government and health care is merely a ploy to fix the problem.

Remember when the Baucus bill finally passed the Finance committee?  The very first thing that was discussed here and elsewhere in some circles is the peculiar nature of the front loaded bill. That is, the bill's programs would only kick in starting 2012-2013, but taxes would be collected starting next year.  This was of course done to extract a favorable report out of the CBO, but it's doing something more.  ObamaCare in whatever form and shape it takes after all the bills are merged will ultimately levy taxes on insurance companies, medical providers and health related consumer goods and YOU in order to raise capital.  There is nothing more or less to it.  The entire program is simply a short term measure to raise revenue for the government, hundreds of billions of dollars so it can postpone the coming financial Armageddon.   Most thinking people understand that ObamaCare is nothing more than another Medicare, a major reason for this country's unsustainable debt obligations in the first place, and if it ever passes the next administration will have to clean up the mess.  Claims like; People dying or we are the only government without a public option or that Americans spend the most on health care may be true, but they are mere propaganda slogans. None of those reasons serve as an explanation behind this insane push because they are simply not substantial. 

To make matters worse, Government officials are completely derelict in their duties and are treading the very fine line of engaging in criminal enterprise.  Take FDIC for example, an institution so wrongly beloved by many Americans as the reason they can sleep well at night knowing their deposits are protected.  Would you be surprised that the FDIC is completely and utterly broke?  It gets worse, there is NO FDIC fund at all!  Yeah, you read that correctly.  According to Sprott:
The real shocker that we discovered some time ago is that the FDIC ‘funds’ were never even held in a segregated bank account – the fees collected from the banks are accounted for as a part of the government’s general revenues that go towards military spending, bailouts, interest costs and other government programs. The FDIC ‘fund’ merely consisted of IOU’s from the general revenues accounts. And now that the Deposit Insurance Fund balance as of September 30, 2009 is negative13 the FDIC wants the institutions to prepay their assessments for all of 2010, 2011 and 2012.
Awesome. If this is true, they turned the FDIC into a general slush fund that is being siphoned by the federal government to satiate their out of control spending.  This is precisely what they did to the social security fund.  There is NO social security fund, whatever money there was has long been gone and replaced with more IOUs.  Yet there are millions of people who believe the government is looking out for their best interest?  Can't you see what is happening?  If we do not immediately suspend, dismantle and break down Social Security, Medicare and Medicaid we will find ourselves in a situation with only two viable outcomes.  Either raise taxes by 50-80% on all corporations and individuals (which will crush whatever is left of the private sector) or start printing like crazy (which will crush whatever is left of this country).   Pick your poison.

"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.” - M. Rothbard