Are you an ordinary American wondering where your fair share of the Obama and now Trump recovery proceeds disappeared to?
Well, I’ve got news for you! In 2013, over 2/3 of GDP went to pay federal, state, and local government employee pensions!
The Federal Reserve states that 2013 State and Local government employee pension payments were a whopping $4.9 trillion! There are currently 15 million state and local governmernt employees.
The U.S. Treasury states that 2013 Federal employee pension payments were $6.5 trillion rounded off! There are currently roughly 8 million federal employees.
Compare that to the 57 million Americans that recieved $807 billion in Social Security, WHICH THEY PAID INTO, AND POLITICIANS THAT WALKED AWAY WITH 2/3 OF GDP SAY THAT THE NATION CANNOT AFFORD TO PAY IN THE FUTURE!!!
Therefore, less than ten percent of the population hogged over two thirds of the entire U.S. GDP in 2013! These people add no value to America or GDP! They are parastic swamp creatures that must be starved!
It is why Obama spent the remaining one third roughly propping up the stock market in $4.5 trillion in QE.
Of course assholes like Paul Ryan blame food stamp recipients starved by the Swamp Creatures, of which Paul Ryan is one of since they recieved something that didn’t go to the gluttonous government swamp creatures!
Government employees are paid roughly 80% more than the private sector, and I think that we can all agree that the roughly 23 million government employees are the most stupid, corrupt, and evil people on the face of the earth!
I do not know how many retired government employees there currently are. We can compare the government employee population to the retired population at large, and all though technology could have conceivably reduced the number of employees, in combination with privitazation efforts, in areas such as waste management, and emissions testing, the population has continued growing steadily.
This PDF shows annual projected federal retirees entering the pension system, but it does not state how many there were prior to 2006, nor does it account for reductions through mortality, yes, even government employees die.
I have attempted to find this information on government pension payments for governmemt employees for over a decade, and have never found it until recently, and I was posting this earth shattering and economy shattering news in my comments section. Mnuchin said that he was going to have the most transparent treasury ever, and I am shocked that it was not simply rhetoric!
Financial experts in ZERO HEDGE and Business Insider have been writing about employee pension shortfalls for years. Here is just one of the hundreds if not thousands of articles pre-Trump and pre Mnuchin:
As long as government employees do not have to live under the same economic conditions that they have forced on us, there is no reason to believe that anything will ever improve for the rest of us.
Government employees should not earn more than the median wage in America, and should not recieve defined benefit retirement packages.
They should recieve social security and Medicare just like everyone else.
Hardly anyone in the private sector has a defined benefit retirement package.
I would like to see Paul Ryan living strictly off of a median salary and attempting to save for retirement, the way that he has forced everyone else to!
Zero Hedge article says that it is different this time because markets no longer reflect price discovery, so it’s different this time because it is admittedly a Ponzi scheme?! How romantic!
From my A Facade of Rationality Covering Up a Kiting Scam:
Goldman and Barclays claim that the bull market will continue, because we will enter rational exuberance from corporate tax cuts.
1.) $4.5 trillion in QE
2.)$4 trillion in corporate stock buybacks
3.) And $4 trillion in corporate bond sales.
All since the financial crisis?!
Na, it’s probably just a coincidence.
“where the size of the market has soared by 42 per cent to $7.7tn, the number of dedicated SEC staffers has barely budged: one employee devotes half his time to it.
The Bank for International Settlements estimates that the bond holdings of the 20 biggest asset managers jumped by $4tn between 2008 and 2012, growing to account for 40 per cent of their collective $23.4tn portfolio. At least $766bn has flowed into US bond funds alone since 2008, according to EPFR data, far outstripping all other asset classes in the same period.”
A Facade of Rationality – Covering Up a Kiting Scam – Andrea Iravani
The Best Creative Minds in America Have Moved From Art, Into Accounting, Pentagon Audit Will Be the Mona Lisa of Creative Accounting – Andrea Iravani
Of course, none of this would even be an issue if we didn’t rely on a privately owned central bank:
How to Give a Central Banker a Nervous Breakdown in 13 Minutes – Andrea Iravani
Basically everywhere you look! US census survey claims that only $488 million was paid in property taxes!