Unfunded Liabilities - What They Are By Ed Henry

The latest catch phrase or politically agreed way to try sugar coating a major crime is the phrase “unfunded liabilities.” It’s something like saying that a mass grave is filled with inoperative humanoids. In this case, it's a big black hole filled with trash called 'trust fund securities.'

Unfunded liabilities are debt. Debt in the form of markers deposited in fictional trust funds that will someday have to be paid-off by the taxpaying public. And they were deposited there by the government that took the American worker’s extra retirement money and spent it somewhere else while claiming to have merely “borrowed” or “invested” this enormous amount of cash. They do this by pretending that the same money can be both spent and saved. It’s a con – a scam that results in words such as “unfunded liabilities” and sometimes 'government obligations.' Debt.

Both republicans and democrates, both proponents and opponents of reform, will do anything to avoid the word 'debt' and especially the fact that they are already $1.7 trillion in hock to Social Security.
The Social Security trust funds are now 22.3 percent of the national debt. And there is no one but you, the taxpayer, to pay off any part of the national debt.

During an interview on CNN Saturday, March 5, 2005 , Senator Clay Shaw (R-FL) said that when the time comes, the government will have to “find” the money to redeem these unfunded liabilities. He wants it to sound like an Easter egg hunt where he and the rest of Congress will go to the Rose Garden, turn over every rock, look under every chair or bench, and stomp through flower beds until they “find” the money. Watch out ... (continued on: Unfunded Liabilities - What They Are By Ed Henry -- Price of Liberty)