The Social Security Well about to Dry Up

Social Security has been running surpluses for over 25 years, and is expected to run a surplus growth to $4.3 trillion until 2023. But if nothing changes, after 2023, surpluses will be used to pay benefits. Consequently, some estimates say that we are only going to be solvent -- when Social Security assets are greater than liabilities; i.e. positive balance -- until 2036. At that point reserves would be depleted and experts are predicting that we are not going to have enough money to pay Social Security benefits that we have been promised for retirement or disability. (I say we because I am 35 this year and I am in this pool of future beneficiaries.)  Read more....

Related articles:

• Social Security disability program running out of funds - CSMonitor.com


• Report: Disability fund losing cash - Mackenzie Weinger - POLITICO.com


• New Republic: Social Security Is Our Saving Grace : NPR


• Social Security disability on verge of insolvency - Yahoo! News

Capitalism is the Crisis

New data released by the U.S. Labor Department on Wednesday revealed that the Producer Price Index (PPI) rose in July by more than expected. The PPI is an indicator of wholesale inflation, and currently it is at its highest peak in the last six months, effectively lowering real wages, and consequently consumerism – this has increased worries among economists about the possibility of a double-dip recession. USA Today polled thirty nine economists, who put the chances of another downturn at 30% – twice as high as when they were polled three months earlier. But, corporate profits are robust – up 22% since 2007, even while the personal finances of most Americans are fragile. The current official unemployment rate of 9.1% shows little sign of improvement; 13.9 million Americans continue to look for work.   Read more...


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Also read:

• Debt, Debt, Debt: 90% of Americans Experience Income Decline As Wealth Gets Sucked Back Into Top .1% -- Debt Explodes As We Try to Make Ends Meet

Americans Facing More Inequality, More Debt & More Government Tyranny

Americans Facing More Inequality, More Debt & More Trouble?

Did America's record-high level of economic inequality in 2007 help cause the financial crisis of 2008? With Americans' borrowing back on the rise and signs that economic inequality is growing, could there be another financial crisis in the near future? Paul Solman continues his series of reports on U.S. economic inequality.

Also read:

• Meet the Global Financial Elites Controlling $46 Trillion In Wealth | | AlterNet

Americans Facing More Inequality, More Debt and Now More Trouble?

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The decline of the dollar. The Hon. Elijah Muhammad was right, again!

Within the past few weeks the US stock market has been a roller coaster of a ride. US policy makers are still trying to figure out what to do to expedite the economic recovery process, but can we take a lesson from history? 40 years ago President Nixon ended the last remnants of the gold standard, which meant dollars couldn't be converted to gold. Scott Carter, CEO of Goldline, tells us why this was significant.

Lew Rockwell: Death of the Dollar

Also watch:

• Dollar decline 40 years in the making?

Read:

• The Honorable Elijah Muhammad: The decline of the dollar

The stronghold of the American Government is falling to pieces. She has lost her prestige among the nations of the earth. One of the greatest powers of America was her dollar. The loss of such power will bring any nation to weakness, for this is the media of exchange between nations. The English pound and the American dollar have been the power and beckoning light of these two great powers. But when the world went off he gold and silver standard, the financial doom of England and America was sealed.

Farrakhan: The Federal Reserve, America's Debt & Coming Civil Unrest

Minister Farrakhan discusses the origin and negative influence of the Federal Reserve Bank and coming civil unrest. WATCH the full video @ http://NOI.org/webcast/MillionsInHarlem

Related articles

• Martial Law: Corporate Media Hints At Military Plans To Take On The American People During Domestic Civil Unrest : (gunnyg.wordpress.com)

Colbert Report: Don't fool yourself, prepare for the BIG Fall of the American Economy

If video does not play you can watch it here: America's Credit Downgrade

How The Richest Top 1% are Inpacting the Lives of the Other 99%

The top 1% - Fault Lines - Al Jazeera English

The richest 1% of US Americans earn nearly a quarter of the country's income and control an astonishing 40% of its wealth. Inequality in the US is more extreme than it's been in almost a century — and the gap between the super rich and the poor and middle class people has widened drastically over the last 30 years.

Meanwhile, in Washington, a bitter partisan debate over how to cut deficit spending and reduce the US' 14.3 trillion dollar debt is underway. As low and middle class wages stagnate and unemployment remains above 9%, Republicans and Democrats are tussling over whether to slash funding for the medical and retirement programs that are the backbone of the US's social safety net, and whether to raise taxes — or to cut them further.

The budget debate and the economy are the battleground on which the 2012 presidential election race will be fought. And the United States has never seemed so divided — both politically and economically.

How did the gap grow so wide, and so quickly? And how are the convictions, campaign contributions and charitable donations of the top 1% impacting the other 99% of Americans? Fault Lines investigates the gap between the rich and the rest.

Also watch:

• Debt Ceiling Deal All Cuts No Taxes‬‏

Debt deal offers no cure for U.S.' deepening economic ills

The last-minute deal on the debt ceiling may prevent a government default, but it does little to avert a perfect storm of economic problems pushing the nation toward a new downturn and more financial pain for millions of Americans.
Instead of increasing confidence in the future, the emerging agreement seems to have underscored the near paralysis in Washington — and the fact that no substantial new efforts are likely for dealing with unemployment, lagging consumer spending or other problems that have been dragging the economy down.   | Seattle Times Newspaper


Also read: 

• Debt ceiling deal casts a bleak light on the future - latimes.com 
• The Evil of Two Lessers: perpetual state of war, cutting social programs, fattening the military and the wealthy - Black Agenda Report

• Debt deal does little for US economy's worsening sea of troubles - | Sacramento Bee
• What Gets Cut If The Debt Commission Doesn’t Agree? | ThinkProgress

Moody’s Places U.S. on Review for Downgrade As Debt Talks Stall

Moody’s Investors Service put the U.S. under review for a credit rating downgrade as talks to raise the government’s $14.3 trillion debt limit stall, adding to concern that political gridlock will lead to a default.   - BlackListedNews.com

Also read:

• Debt ceiling: Moody's puts U.S. on notice
• Moody's Puts U.S. on Review for Possible Downgrade - WSJ.com
• Moody's puts U.S. on review for possible downgrade
• Moody's warns it may downgrade US credit rating - The Associated Press

Who is Moody's - Wikipedia, the free encyclopedia

Moody's Corporation (NYSE: MCO) is the holding company for Moody's Analytics and Moody's Investors Service, a credit rating agency which performs international financial research and analysis on commercial and government entities. The company also ranks the credit-worthiness of borrowers using a standardized ratings scale. It is one of the big three credit rating agencies and has a 40% share of the world market, as does its main rival, Standard & Poor's; Fitch Ratings has a smaller share.

Moody's was founded in 1909 by John Moody. Top institutional owners of Moody's include Berkshire Hathaway and Davis Selected Advisers.

New York Senate just passed same-sex "marriage" bill. Babylon is on full blast.

The New York state assembly has approved a bill allowing same-sex marriage and the measure is likely to face a vote in the state Senate on Friday, where it only needs support from one more senator to pass.
The Democratic-dominated assembly voted 80 to 63 on Wednesday in favour of the marriage equality bill introduced by Governor Andrew Cuomo, a Democrat in his first year in office.  | guardian.co.uk
Also read:

• New York Gay Marriage: State Assembly Approves Same-Sex Marriage Bill

How Miserable Are Americans? Index Says the Worst in 28 Years

The index, first compiled during the soaring inflation days of the 1970s by economist Arthur Okun, is registering a nausea-inducing 12.7—9.1 percent for unemployment and 3.6 percent for annualized inflation—a number not seen since 1983. The index has been above 10 since November 2009 and had been under double-digits from June 1993 through May 2008.  - CNBC

Police: Newborn Killed Because Parents 'Couldn't Afford' Another Child

A Pennsylvania man is accused of fatally striking his newborn with a cinderblock twice because he and his girlfriend couldn't afford a second child.  - WTAE Pittsburgh

Has the American Dream become a nightmare?-American Dream-(Part1)

People grow up in America with the dream of a good life, housing, a good car, a good job and health insurance. But some believe that we see the opposite today in the US.

They believe something has happened to the American Dream with the high unemployment rate, housing foreclosures, more people in poverty and much more.

This edition of Amrcian Dream asks: Has the American Dream become a nightmare?

Also watch:

• American Dream Turned To Nightmare With 54% of US tax dallors spent on Military 

Is the U.S. Following in the Footsteps of Ancient Rome?

The first video is on America's Foundation and explains the timeless concepts that we need to embrace today.  The second video discusses the various types of political systems and misconceptions thereof.  I will post the last two videos on this tomorrow.