[quote]SexMachine wrote:
Honey, I Shrank The Army; On Brink Of A Hollow Force
“…the Army will seek to slash its base operations budget by 30% from fiscal year 2012 to make ends meet.”
Read More At IBD: Honey, I Shrank The Army; On Brink Of A Hollow Force | Investor's Business Daily
[/quote]
It would not be hollow if they reduced its size . You can not maintain world dominance forever it will be our demize
[quote]pittbulll wrote:
[quote]SexMachine wrote:
[quote]pittbulll wrote:
what is that over the next 100 years ?
[/quote]
LOL! It wouldn’t even pay for the next 10 years.
Egon von Greyerz, founder of Matterhorn Asset Management in Switzerland:
“U.S. debt is increasing by approximately $1.5 trillion per year. If you add to that the increase in unfunded liabilities, you get an increase, only in 2012, of $7 trillion.”
The $70 trillion represents the current entitlement debt and unfunded liabilities when calculated according to 'Generally Accepted Accounting Principles (GAAP) Some have calculated it much higher at $130 trillion.[/quote]
[/quote]
can you post a link , I am not quite sure by what you mean by unfunded liabilities ?
[quote]pittbulll wrote:
[quote]pittbulll wrote:
[quote]SexMachine wrote:
[quote]pittbulll wrote:
what is that over the next 100 years ?
[/quote]
LOL! It wouldn’t even pay for the next 10 years.
Egon von Greyerz, founder of Matterhorn Asset Management in Switzerland:
“U.S. debt is increasing by approximately $1.5 trillion per year. If you add to that the increase in unfunded liabilities, you get an increase, only in 2012, of $7 trillion.”
The $70 trillion represents the current entitlement debt and unfunded liabilities when calculated according to 'Generally Accepted Accounting Principles (GAAP) Some have calculated it much higher at $130 trillion.[/quote]
[/quote]
can you post a link , I am not quite sure by what you mean by unfunded liabilities ?
[/quote]
unfunded liabilities = debt you cannot cover given your current financial situation.
Like most government pension plans, and private pension plans as well.
[quote]countingbeans wrote:
[quote]pittbulll wrote:
[quote]pittbulll wrote:
[quote]SexMachine wrote:
[quote]pittbulll wrote:
what is that over the next 100 years ?
[/quote]
LOL! It wouldn’t even pay for the next 10 years.
Egon von Greyerz, founder of Matterhorn Asset Management in Switzerland:
“U.S. debt is increasing by approximately $1.5 trillion per year. If you add to that the increase in unfunded liabilities, you get an increase, only in 2012, of $7 trillion.”
The $70 trillion represents the current entitlement debt and unfunded liabilities when calculated according to 'Generally Accepted Accounting Principles (GAAP) Some have calculated it much higher at $130 trillion.[/quote]
[/quote]
can you post a link , I am not quite sure by what you mean by unfunded liabilities ?
[/quote]
unfunded liabilities = debt you cannot cover given your current financial situation.
Like most government pension plans, and private pension plans as well. [/quote]
Thanks so unfunded Liabilities could be covering any one that suffered the effects of Agent Orange or the cops DEA breaking down the wrong Door ? feel free to list some examples
[quote]pittbulll wrote:
[quote]usmccds423 wrote:
[quote]pittbulll wrote:
[quote]usmccds423 wrote:
Came from here: I did not check for accuracy
http://nationalpriorities.org/analysis/2012/presidents-budget-fy2013/[/quote]
What is your point ?
[/quote]
My point is national defense is only 18% of the budget or about 1/5th. There are several 1000 pound gorillas in the room aside from the 800 pounder you mentioned. [/quote]
if you add tsa and the pentagon budget , we exceed the rest of the world in defense spending . add all the other aspects of national defense and I bet there is not one that comes close
[/quote]
The reason we have to spend more on military than anybody else is when they get in to a jam, they call us. If we cut the budget and stopped military aid to other nations, their military budgets would grow 10 fold.
They can afford to spend less because of us.
[quote]pittbulll wrote:
[quote]countingbeans wrote:
[quote]pittbulll wrote:
[quote]pittbulll wrote:
[quote]SexMachine wrote:
[quote]pittbulll wrote:
what is that over the next 100 years ?
[/quote]
LOL! It wouldn’t even pay for the next 10 years.
Egon von Greyerz, founder of Matterhorn Asset Management in Switzerland:
“U.S. debt is increasing by approximately $1.5 trillion per year. If you add to that the increase in unfunded liabilities, you get an increase, only in 2012, of $7 trillion.”
The $70 trillion represents the current entitlement debt and unfunded liabilities when calculated according to 'Generally Accepted Accounting Principles (GAAP) Some have calculated it much higher at $130 trillion.[/quote]
[/quote]
can you post a link , I am not quite sure by what you mean by unfunded liabilities ?
[/quote]
unfunded liabilities = debt you cannot cover given your current financial situation.
Like most government pension plans, and private pension plans as well. [/quote]
Thanks so unfunded Liabilities could be covering any one that suffered the effects of Agent Orange or the cops DEA breaking down the wrong Door ? feel free to list some examples
[/quote]
What are you talking about? DEA?
Jesus:
An Unfunded Liability:
a) Person a retired, and is due 1,100,000 in payments over the rest of their life based on actuarial tables and PV etc etc etc…
b) Company sets up a fund to pull from in order to make those payments. Based on FV calc’s the company, in year one puts 200k in the fund expecting it to grow over the life of the pension
The liability is short term funded, because they have 200k to cover one years payments, but long term is unfunded because they don’t have enough to cover the 1.1mil they owe the person based on the calcs.
[quote]countingbeans wrote:
[quote]pittbulll wrote:
[quote]countingbeans wrote:
[quote]pittbulll wrote:
[quote]pittbulll wrote:
[quote]SexMachine wrote:
[quote]pittbulll wrote:
what is that over the next 100 years ?
[/quote]
LOL! It wouldn’t even pay for the next 10 years.
Egon von Greyerz, founder of Matterhorn Asset Management in Switzerland:
“U.S. debt is increasing by approximately $1.5 trillion per year. If you add to that the increase in unfunded liabilities, you get an increase, only in 2012, of $7 trillion.”
The $70 trillion represents the current entitlement debt and unfunded liabilities when calculated according to 'Generally Accepted Accounting Principles (GAAP) Some have calculated it much higher at $130 trillion.[/quote]
[/quote]
can you post a link , I am not quite sure by what you mean by unfunded liabilities ?
[/quote]
unfunded liabilities = debt you cannot cover given your current financial situation.
Like most government pension plans, and private pension plans as well. [/quote]
Thanks so unfunded Liabilities could be covering any one that suffered the effects of Agent Orange or the cops DEA breaking down the wrong Door ? feel free to list some examples
[/quote]
What are you talking about? DEA?
Jesus:
An Unfunded Liability:
a) Person a retired, and is due 1,100,000 in payments over the rest of their life based on actuarial tables and PV etc etc etc…
b) Company sets up a fund to pull from in order to make those payments. Based on FV calc’s the company, in year one puts 200k in the fund expecting it to grow over the life of the pension
The liability is short term funded, because they have 200k to cover one years payments, but long term is unfunded because they don’t have enough to cover the 1.1mil they owe the person based on the calcs. [/quote]
I am curious how broad a term unfunded liability is. It sounds as broad as they come
Describing any liability or other expense that does not have savings or investments set aside to pay it
as I suspected tell the portion that bolsters your agenda
[quote]pittbulll wrote:
I am curious how broad a term unfunded liability is. It sounds as broad as they come
[/quote]
Not really, it is basic math. Like 3rd grade math at the macro level.
You can manipulate your macro numbers by being aggressive in return predictions and inflationary factors while figuring your PV etc. You can give-or-take with life expectancy here or there. But none of that “normalization” makes the term braod in any way.
The term is actually pretty specific.
[quote]pittbulll wrote:
as I suspected [/quote]
Oh boy, more wild speculation from a position of “I have no idea what I’m talking about”.
Pensions may be unfunded but IMO there is no excuse . If the Gov. made a deal for pensions and it is in black and white what the amount is , negligence is the only explanation I can see why they are not
I will repost the definition of unfunded liability and as a side not pensions were not mentioned
“Describing any liability or other expense that does not have savings or investments set aside to pay it”
I have to tell you Beans when I first met you I was as impressed as any one on this board , I see you now in a diminished capacity
[quote]pittbulll wrote:
I have to tell you Beans when I first met you I was as impressed as any one on this board , I see you now in a diminished capacity [/quote]
Beans and I don’t always agree, for God sake he’s from New England, but Beans has helped me understand concepts that I learned and had to learn to get an undergraduate degree in accounting. He is very knowledgeable from what I’ve read on this particular subject.
You had to ask for the definition of an unfunded liability and you are not impressed with his knowledge base, why would you even say that?
If I were you I would take a few entry level economics courses and if you can a tax course or two. The things you say don’t make any sense to anyone that has even a marginal background in these matters.
I don’t understand you. Why are you pointing out shortcomings in others when you yourself have glaring shortcomings?
[quote]pittbulll wrote:
I will repost the definition of unfunded liability and as a side not pensions were not mentioned
“Describing any liability or other expense that does not have savings or investments set aside to pay it”
[/quote]
Do you understand what a pension is? If so, do you understand what a liability is?
One of the answers here has to be ‘no’ given what you posted above.
Also note, that I described the same thing that definition did, just used more words.
[quote]pittbulll wrote:
I see you now in a diminished capacity [/quote]
Okay?
Couldn’t have anything to do with the 6,000 bong rips you’ve taken in that time I’m sure…
[quote]usmccds423 wrote:
but Beans has helped me understand concepts that I learned and had to learn to get an undergraduate degree in accounting. He is very knowledgeable from what I’ve read on this particular subject. [/quote]
Thank you, and I’m more than glad I could help.
[quote]usmccds423 wrote:
[quote]pittbulll wrote:
I have to tell you Beans when I first met you I was as impressed as any one on this board , I see you now in a diminished capacity [/quote]
Beans and I don’t always agree, for God sake he’s from New England, but Beans has helped me understand concepts that I learned and had to learn to get an undergraduate degree in accounting. He is very knowledgeable from what I’ve read on this particular subject.
You had to ask for the definition of an unfunded liability and you are not impressed with his knowledge base, why would you even say that?
If I were you I would take a few entry level economics courses and if you can a tax course or two. The things you say don’t make any sense to anyone that has even a marginal background in these matters.
I don’t understand you. Why are you pointing out shortcomings in others when you yourself have glaring shortcomings? [/quote]
Beans has also helped me grasp certain aspects , I would say the most after I researched my capital gains tax. I misunderstood the term 50% rate , I just signed and wrote the check:) . I understand it is not his job to inform properly and This is a debate forum . I just expected a more full disclosure when he defines a term that is specific to his expertise
[quote]pittbulll wrote:
[quote]usmccds423 wrote:
[quote]pittbulll wrote:
I have to tell you Beans when I first met you I was as impressed as any one on this board , I see you now in a diminished capacity [/quote]
Beans and I don’t always agree, for God sake he’s from New England, but Beans has helped me understand concepts that I learned and had to learn to get an undergraduate degree in accounting. He is very knowledgeable from what I’ve read on this particular subject.
You had to ask for the definition of an unfunded liability and you are not impressed with his knowledge base, why would you even say that?
If I were you I would take a few entry level economics courses and if you can a tax course or two. The things you say don’t make any sense to anyone that has even a marginal background in these matters.
I don’t understand you. Why are you pointing out shortcomings in others when you yourself have glaring shortcomings? [/quote]
Beans has also helped me grasp certain aspects , I would say the most after I researched my capital gains tax. I misunderstood the term 50% rate , I just signed and wrote the check:) . I understand it is not his job to inform properly and This is a debate forum . I just expected a more full disclosure when he defines a term that is specific to his expertise
[/quote]
Shouldn’t the onus fall on you to inquire further if you don’t fully understand a concept or for you to do your own research?
I took 2 tax course that covered hundreds of code sections and I am constantly asking questions. My wife has a M.S. in taxation and she still has to ask questions. I’m sure Beans has to research emerging tax issues as well, which is why I’m quick to point out your short comings here.
I would certainly respect your opinion more if you took the time to ask more questions/understand a concept on your own rather than insult another poster. That’s my $0.02 anyway.
[quote]usmccds423 wrote:
[quote]pittbulll wrote:
[quote]usmccds423 wrote:
[quote]pittbulll wrote:
I have to tell you Beans when I first met you I was as impressed as any one on this board , I see you now in a diminished capacity [/quote]
Beans and I don’t always agree, for God sake he’s from New England, but Beans has helped me understand concepts that I learned and had to learn to get an undergraduate degree in accounting. He is very knowledgeable from what I’ve read on this particular subject.
You had to ask for the definition of an unfunded liability and you are not impressed with his knowledge base, why would you even say that?
If I were you I would take a few entry level economics courses and if you can a tax course or two. The things you say don’t make any sense to anyone that has even a marginal background in these matters.
I don’t understand you. Why are you pointing out shortcomings in others when you yourself have glaring shortcomings? [/quote]
Beans has also helped me grasp certain aspects , I would say the most after I researched my capital gains tax. I misunderstood the term 50% rate , I just signed and wrote the check:) . I understand it is not his job to inform properly and This is a debate forum . I just expected a more full disclosure when he defines a term that is specific to his expertise
[/quote]
Shouldn’t the onus fall on you to inquire further if you don’t fully understand a concept or for you to do your own research?
I took 2 tax course that covered hundreds of code sections and I am constantly asking questions. My wife has a M.S. in taxation and she still has to ask questions. I’m sure Beans has to research emerging tax issues as well, which is why I’m quick to point out your short comings here.
I would certainly respect your opinion more if you took the time to ask more questions/understand a concept on your own rather than insult another poster. That’s my $0.02 anyway.
[/quote]
I did the research on the definition of unfunded liability and no where in it’s definition was pension mentioned sure if some one were negligent enough not to include a know liability in it’s budget then it would be unfunded . In my opinion unfunded should be unforeseen