GM is smartly trying to get this $51 Billion growing disaster off its books, otherwise sure bankruptcy is around the corner. So GM workers, not understanding that they make crap cars for a crap company who has no future, went on strike today. Good luck with that. Not smart.
But folks, the US government doesn't even bother to put the future costs of retirement and health care liabilities on its books, or even have a discussion about the issue. That's right - what US corporations have to do per GAAP, the US government doesn't have to do. Or even talk about.
So that $9 Trillion debt you think we owe and are about to possibly default on? Not even close. Try $50 Trillion, per the US Comptroller report (not a stat you'll find on Fox News for sure).
So what does the future hold for America? Bankruptcy, default or dollar destruction around the corner, and radical change to our "promised" yet unfunded benefits programs and tax rates.
Thank you Democrats. Thank you Republicans. Thank you ignorant voters. You fuc*ed America. And you immorally and selfishly screwed generations of Americans to come.
You thought the housing crash was big. You ain't seen nothin' yet.
BenefitsPANIC?
Showing posts with label gm sucks. Show all posts
Showing posts with label gm sucks. Show all posts
September 24, 2007
GM workers who went on strike today have over $51 billion in unfunded retiree costs. Care to guess how much the US government has unfunded?
Posted by
blogger
at
9/24/2007
55
comments
Labels: baby boomers ruined america, bogus numbers, democrats suck, gm sucks, government incompetence, health care, republicans suck, retirement, US deficit, us national debt
Subscribe to:
Posts (Atom)