$205 Trillion in Unfunded Liabilities: Information The Government Does Not Want You To Know

February 15th, 2014

 

(The Daily Rekoning) The nonpartisan Congressional Budget Office is acting in a bipartisan way to cover up the biggest single threat to the bipartisan political alliance that is stripping America of its wealth: the United States Congress.

There is no question that the following policy is bipartisan. Democrats and Republicans in Congress are completely agreed that the following information should not get out to the American people, namely, that the present value of the United States government’s off-budget liabilities is over $200 trillion.

…the government needs $205 trillion… to invest in the private sector, in order to fund its legal liabilities.

The man who has followed this for the longest time is Prof. Laurence Kotlikoff of Boston University. He has created a great deal of embarrassment for the government by his relentless pursuit of the statistical implications of the statistics released by the Congressional Budget Office.

The Congressional Budget Office has a way to avoid this, namely, to cease publishing the statistics that Kotlikoff has used to expose the real condition of the United States government.

Kotlikoff referred to this suppression of information in an article that appeared in Forbes.

The CBO has two sets of books. This is what any Ponzi scheme requires. It releases one set of books to the rubes in the financial media, who are perfectly content to quote from it, when they are even aware of it. This is called the Extended Baseline Forecast or EBF.

The second set of books is called the Alternative Fiscal Scenario or AFS. Here’s how Kotlikoff describes the difference.

In past years, the CBO simultaneously released what it calls its Alternative Fiscal Scenario. This forecast is what CBO actually projects future taxes and spending to be given not just the laws in place, but also how Congress and the Administration have been bending and changing the laws through time. In short, the Alternative Fiscal Scenario (AFS) is what the CBO thinks we’re facing absent a truly dramatic and sustained shift in fiscal policy.

Because of Kotlikoff’s ability to get news coverage for the AFS, the CBO decided this year not to publish it.

Those of us who track U.S. fiscal policy eagerly await each year’s release of the AFS. But this year, the CBO’s long-term forecast included only the EBF. The AFS was nowhere to be seen. It wasn’t mentioned in the CBO’s lengthy report. Nor was it included in the downloadable data CBO provided on its website.

The national media, which generally “covers” fiscal affairs by repeating what it’s told, missed this omission entirely. Indeed, it spent an entire news cycle discussing the EBF figures as if they had real meaning.

The CBO did not get away with this, at least not to the extent that it had hoped. There were complaints. Kotlikoff says that enough people did complain to persuade the CBO to release a summary of the projections in an obscure spot in the CBO’s spreadsheet. The CBO posted this information, but it did not alert the financial media to the update.

He predicted that the link would soon be removed. This was in early October.

The EBF and AFS projections differ dramatically, yet the AFS is hidden away in one tab of one spreadsheet called Supplementary Data, the small link to which will shortly disappear from the CBO’s homepage, making it even harder for we taxpayers to find.

He was correct. It’s gone. It’s “page not found.”

[Ed. Note: We tried accessing the link, but nothing came up.]

He points out that the CBO’s projections on the deficit which it has posted in full public view, namely, the ESB, has the fiscal gap at $47 trillion. Now, just between you and me, $47 trillion is a large chunk of change. But it is such a low-ball estimate that the public has no real conception of how big the liability really is. Of course, the public doesn’t care one way or the other, because the public has never heard of the CBO, let alone the ESB. When I say “public,” I mean the financial media.

Using the AFS figures, the unfunded liability is $205 trillion. This is the figure that the CBO does not want the general public, meaning the financial media, to be aware of.

17 Comments

  1. Our country has been finished for years. I remember a professor at USC named Mrs. Knight (1960′s)who taught one class of undergraduates in economics. She was on the Boards of 12 or so major corporations including I believe Chevron. She said if we lived long enough we would see exactly the situation we do today and there wasn’t any answer as the issues were a real unknown except of government deficits and production based not on need but on technology and recreation. Well we are here and our country has lost all moral ground and has a population that is brain dead to what this government and previous ones have done to our worth as a nation. It will be sad to see this situation play out as I have children and grandchildren but I personally will most likely be gone before the real end.

  2. Pingback: $205 Trillion in Unfunded Liabilities: Information The Government Does Not Want You To Know — State of Globe

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  5. What are the legal liabilities that need the $205 trillion that will not be spent on the private sector? Why keep a demon possessed illegal Muslim President in the White House. When are the sheeple going to understand that the government is not doing the people any favors? Our representatives are not even thinking about the people they represent. They are not trimming back on spending. The party-life continues full blast in Washington, and the need to be seen is just as important to the media hacks that hide the important news around the US and the world, as it is for the politicians. Photo opportunities, a sound-bite, free food provided by taxpayer money, and plenty of drinks, and a date-rape drug, or a “mickey” as they used to say. A quick trip via the FBI or CIA, or you can fill in the blank to the hotel room complete with hookers and young boys available to ruin that congressman that thought that he had someone who had his back. This is the MO that is repeated on Capitol Hill to blackmail our representatives to get them to vote against the voters of their state on something they don’t want and can’t afford. When will the people understand that the FED Reserve is a Jewish Institution, and that centralized banking at the top of the pyramid is controlled by Jewish bankers. Then count how many Jews are in politics, in “key” positions, who have dual citizenship to Israel and the US, but to them Israel is the first loyalty. Did you know that Israel gets our newest fighter jets before our military does? Did you know that Congress passed a law that lets Israel get the “live feed” from the NSA first before it gets to the NSA? Edward Snowden hasn’t even released this information. Right now, there are over 250,000 Chinese who appear to be students, but are here to take over Federal lands and the resources on those lands. Many of these students belong to the Chinese Army, who are standing on alert to have “boots on the ground, as possession is nine-tenths of the law. In 2006, the Bank of China sent two groups of eight people to estimate the value of the resources on Federal lands. It is estimated that there are over 50,000 Russian soldiers in the US. In Venezuela, the government has shut off all media sources and Twitter, because the military are shooting student protestors in the streets, dropping them like they are nothing more than a bullseye on a target, certainly not like the youth and leaders of tomorrow. Meanwhile, we protect a gay man in the White House, without a birth certificate, without a social security number, without a selective service number, who has probably never made a car payment, and buddy of Bill Ayers of the Weather Underground, who wrote the Barry Soetoro book, Dreams of my Father. Yes, his real name is not Barak, but Barry. Another thing that you might want to mull over is the fact that Obama’s campaign when he was running for Senator of Illinois, he admitted that he was not a citizen to Alan Keys, and his campaign staff were so proud that an African from the village of MomBossa, Kenya, Africa was now their Senator. Later, when running for President, the birthplace of Obama signs in Kenya had to be removed, even though Obama’s grandmother and the Ambassador from Kenya all had to lie and say that Obama had been born in Hawaii, although his real birth certificate is from Kenya. All the birth certificates, social security numbers and selective service numbers are fakes. Remember when Obama had that passport from Indonesia, where he attended Muslim schools, and got financial aid from Fullbright that was only available for foreign students, so Obama was able to get funding for attending Occidental College in LA. In 1981, Obama went to Pakistan on some kind of a CIA communication job. He knows the terrorist leaders on a first name basis at that time. Obama’s mother also worked for the CIA. This was during the period of time Obama was to have attended Columbia, when he never attended there at all. Now, after attending and basically flunking-out at Occidental, going to Pakistan, and now getting into Harvard, does that make sense? A connection to George Soros, the Jewish Hungarian banker, may have been the opening into Harvard, as Obama’s transcripts were hardly Harvard material. Obama became a community organizer when he and Michelle were lawyers weren’t they? Why can’t either one of them practice law? What did they do that sidelined their careers in law, and what would they need to do so they could practice law? After all these years, there are still too many unanswered questions by the most transparent administration in US history. Did you hear that we are down another $205 trillion in addition to all the other trillions that we can not repay. We would sooner give money to illegals than take care of our troops that have limbs blown off, or take care of the lousy care that is given in Veterns Administration Hospitals throughout the US. Are we treating our soldiers now like we treated the Viet Nam veterans in the 1960′s and 1970′s? The hidden cabal that runs the world behind the scenes can be found by following the money, straight to the elite bankers that back both sides of all wars and collect interest from the governments that barrow money to finance wars. Here in the US, we have been involved in too many wars, therefore we owe the money and interest to these bankers that lent to to us in the first place. It is my opinion that the Rothschild family from Germany, that Satan, or Lucifer, if you prefer, has been entrusted to guard the root of all evil, the love of money. Rothschild bankers set the opening and closing prices of gold, the price of oil per barrel, the price of commodities world wide, and they intermarry among other Luciferian bloodlines, that trace their heritage back to the Fallen Angels. In light of these problems, we will be leaving an ugly America to our youth, who will never know what America used to be all about. They will know poverty, starvation, domination, control, and hopelessness by an elite few that they can not see, and if they are unable to work for the state, then they are “useless eaters” and they are considered worthless and expendable. The Great Tribulation of the Revelation of Jesus Christ is coming upon us now. Who can stand against the Beast?

    • Hello Maurice,
      I’d like to comment on why Michelle and Barry cannot practice law anymore. The reason be is that they were convicted of (Michelle)insurance fraud and (Barry) falsified some legal application which also was fraud. They were disbarred and nothing more was said or done. I read this from news of Chicago several years back at his first term in the White House.

  6. Thomas Jefferson was correct in his prediction about America’s demise if the people ever allowed the central banks to manipulate and control the nations currency.

    By default, we have allowed the Congress to abridge and violate their Constitutional duties to “coin and regulate money” by subcontracting their responsibilities over to a private central bank.

    Congress was clearly delegated the power and authority to regulate and maintain the true value of the coin within the scope and purview of Article I, Section 10, Clause 1 of the ordained Constitution(1787).
    Further, under a corresponding duty and obligation to maintain gold and silver Coin and Foreign Coin, at and within the necessary and proper “equal weights and measures” clause (see also: Bible; Deuteronomy, Chapter 25 verses 13-16, Proverbs, Chapter 16, verse 11, Public Law 97-289,96 Stat 1211).

    Congressman Louis T. McFadden was correct in May 23, 1933, to bring formal charges against the Board of Governors of Federal Reserve Bank, the Comptroller of the Currency and the Secretary of the United States Treasury for criminal acts.
    Today the R.I.C.O. ACT can embrace this monumental conspiracy which has completely debauched our currency under the false pretense of a “national emergency”, created out of the declared Bankruptcy of the United States of America by President Roosevelt in March 9, 1933, Executive Orders 6073, 6102, 6111, & 6260 and continues to this very day.

    This permanent “State of Emergency” was instituted, formed within the Union through gross usurpation, abridgements, malfeasance, and continuing breech of legal duties by members of the Federal Government with contrivance, misrepresentation, conversion, fraud and avarice by the Federal Reserve Bank.

    For the full remedy to redress this vile betrayal of the American People follow this link;

    CLASS ACTION LAWSUIT AGAINST THE FEDERAL RESERVE BANK

    http://www.screwthefed.wordpress.com/2011/07/13/class-action-lawsuit-against-the-federal-reserve-bank/

    Additionally, please review from the floor of the U.S. Senate a video of the forced audits of the Federal Reserve Bank, whereby the false disclosures of the banking bailouts were revealed not as in the hundreds of billions of dollars but a total of – $16 Trillion Dollars- criminally looted by the federal Reserve Bank.

    American’s Are Angry

    http://www.rumormillnews.com/cgi-bin/archive.cgi?read=244366

  7. This sounds like the negative of the Comprehensive Annual Financial Report (CAFR). Where the CAFR hides the true investments and the return on those investments from the main budget so the tax payers will never know or catch on that we are being over taxed, the AFS is the actual commitments and liabilities legislated by Congress to hide the fact we are hopelessly in debt based the this governments ability to create a debt based fiat currency. Here is the real question to ask: CAFR – AFS =? The answer would tell us if we actually are or are not in debt. I believe we are hopelessly in debt and the CAFR is the bankers and corrupt politician’s nest egg created just for them as a pay off in helping to destroy this country.

  8. This is the result of bankers lying about loaning money.
    Banks DO NOT loan money.
    Never have as far as I know.
    Banks are in the business of “extending credit”.
    Who’s credit?
    Yours.
    Banks extend the customers OWN CREDIT and then turn around and call it a loan.
    F#%kin crazy!!
    NO ONE KNOWS WHAT MONEY IS.
    NOT EVEN HERE.
    Sad.

  9. You…are…my…hero!!! I cant believe something like this exists on the internet! Its so true, so honest, and more than that you dont sound like an idiot! Finally, someone who knows how to talk about a subject without sounding like a kid who didnt get that bike he wanted for Christmas.

  10. The Government public sector has been consuming and obliterating the free enterprise private sector for over 100 years now. Detroit is an example of how it will start. Mind you Detroit is in about the 3rd inning.

    The entire Government entitlement system will collapse and create a chain reaction that will force these unfunded liabilities into junk status.

  11. Clearly, Americans need to begin taking personal responsibility for their own finances, and not depend upon the U.S. Government, the SEC, or Wall St. to take care of them.

    Best advice: Trade your “Federal” “Reserve” Notes for some “junk” silver coins (pre-1964 90% silver half dollars, quarters, or dimes) or 1 oz. Silver American Eagles. Protect yourself.

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