The National Inflation Association today issued a warning to all Americans of a potential outbreak of hyperinflation in the U.S. by year 2015 caused primarily by the healthcare bill and rising interest payments on our national debt.
Medicare was created in 1966 at a cost of $3 billion per year and the House Ways and Means Committee estimated in 1966 that in 1990 the cost of Medicare would reach $12 billion per year. Instead, the actual cost of Medicare in 1990 was $107 billion (792% more than what was projected) and today Medicare costs $408 billion annually. In 2003, the White House Office of Management and Budget estimated that the Iraq War would have a total cost of $50 to $60 billion. So far, we have already spent $713 billion on the Iraq War (over 1,000% more than what was projected).
The Congressional Budget Office is estimating that the healthcare bill will cost $940 billion over the next 10 years, but if history is any indication, the actual cost will likely be several trillion dollars. NIA believes the healthcare bill will be the final nail in the coffin of the U.S. economy and will just about guarantee that we will see hyperinflation by the year 2015.
The U.S. government last week reported a record monthly budget deficit for February 2010 of $220.9 billion. Total tax receipts for the month were only $107.5 billion compared to outlays of $328.4 billion. The total U.S. deficit for the first five months of fiscal year 2010 was $651.6 billion, with tax receipts of $800.5 billion and outlays of $1.45 trillion. The deficit was up 10.5% for the first five months of fiscal year 2010 over the same period in fiscal year 2009.
We are now at a point where if the U.S. government taxed Americans 100% of their income, the tax receipts generated would not be enough to balance the budget. Likewise, if the U.S. government cut 100% of its spending including defense, but kept paying Social Security, Medicare and Medicaid, we would still have a budget deficit. NIA believes it will be impossible for the U.S. to have a balanced budget ever again.
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I think we will be very lucky if we do not have hyper inflation before 2015.
ReplyDeleteWe are so screwed....
Will the hyperinflation be due to health care? National HC will not incur any costs until at least 2014. The government plans on collecting extra taxes from us for the next four years to pay for national HC. So I don't see how that will be the cause of hyperinflation.
ReplyDeleteWith that said, I still believe hyperinflation is our future, either that or default.
This is just one way for them to ensure a world government through destruction of the Constitution until it finally becomes outlawed (as a threat to global peace) along with the Bill of Rights. Soros must be gleeful right now that things are going so well to plan.
ReplyDeletePhase II of the globalist/elite plan will shortly commence. As they say, you strike while the iron is still hot. Prepare for the branding.
Whats Phase II and Phase III?
ReplyDeleteMost of our founding fathers were nothing special. Andrew Jackson was born in the "sticks" and a limited education til he could attend law school. Others were farmers and businessmen, at them same time, they were the leaders of our newly born republic.
ReplyDeleteAfter signing the Deceleration of Independence, they then had to turn to fighting a war against the British Crown.
Our country in this present time has an enemy and they occupy the Washington DC area. The enemy is crushing our country and we sit back in our seats and do nothing to stop it.
..."whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government"...
The enemy will not go away peacefully. A new group of "Second Founding Fathers" is desperately needed.
As Gerald Celente said "when a person loses everything, they lose it".
I've go nothing left to lose.
yeah what is phase 2 and 3? You sound like you know what your talking about!
ReplyDelete9:09AM I agree; all hope is now gone. Nothing more can be done politically and with debt and devaluation, it will be everyone for himself, so prep. and live for family/self. It's all over, country is trashed with no future.
ReplyDelete8:19:
ReplyDeleteThe HC Bill passed over the weekend will institute the collection of taxes and fees immediately…within the next 4-6 weeks you will notice a change to the “taxation” and “fee” tables so we, the Taxpaying Sheeple will be taxed years before the healthcare is initiated! This will affect small businesses first! When the article mentioned Hyper Inflation this is the cause every service or items will increase to cover the new costs. By the time Health Care is enacted in 4-5 years it will be so pathetic you won’t recognize it…the costs go up as Warren Buffets-AmeriGroup Corp becomes the sole governmental monopoly sucking our remaining tax dollars and forcing extraordinary co-pays for pittance care.
Bend over Amerika here comes Hope and Change!
Exactly 9:28. That is not being negative, that is just being factual. The USA is done. The Oligarchs won. Now focus on yourself, you survival. The 98%, the TV watching, government worshippers, the deluded, will never awaken.
ReplyDeleteGimme back my bullets.
ReplyDeleteWrong. This bill will not cause hyperinflation, but it will add more taxes. For me the concern is tanking state revenue and all those taxes they'll have to institute to make up the shortfall. We'll barely be able to pay our bills. The absence of discretionary funds along with a shortage of inventory and already rising prices could go either way; all the economists are just guessing as to whether we'll have deflation or hyperinflation.
ReplyDeleteThis bill is a GOOD thing, even the CBO says it will not cost us any money, so what are all you pussies so scared of? We are the richest country on EARTH and we can't help out the less fortunate? Hyper infaltion? COME ON, who drempt that silly story up, we would not have seen hyper inflation even if this bill had not passed, LMAO
ReplyDeleteWhat a bunch of fear mongering panzies, so scared of change with no hope
..."whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government"...
ReplyDeleteWe know the idea of "voting those bastards out" never works, our votes are meaningless.
How about we send each member of the House and Senate a letter termination? You're fired! Clean out your desk and leave the building. Yea, a whole lotta good that's gonna do.
The unfortunate thing here, is the founding fathers did write the first paragraph above, but I have yet to find any "Dummy's Guide to Altering or Abolishing a Destructive U.S. Government".
- Voting doesn't work
- Written complaints (your fired) doesn't work
- Perhaps we could get ordinary citizens to enter the House and take a seat? Do not get up for nothing. I suppose the Capitol Police would be dumbfounded as to what to do about that!
- The only solution I can think of is armed rebellion. Some may get hurt, some my die.
Any other ideas?
I owe a quarter million on a mortgage. Won't hyperinflation allow me to pay it back in about three minutes?
ReplyDeleteYes 12:15 you could pay it back in a hurry after you finish spending your weeks paycheck for bread and milk, then what is left? Wages won't go up THAT much. That is where some gold and silver might come in handy. I say might, unless Pedro knows you stash, in that case he will come knocking, club you to death, shag the wife and daughter and then make off with your stash
ReplyDeleteThat's the problem with inflation commenter @ 12:15, asset prices inflate too. Not only that, government entitlement programs are indexed to inflation, so those go up astronomically in price as well. Inflation will not save us, the lower and middle classes will not experience a commensurate increase in wages 1:1 with inflation.
ReplyDelete"We are now at a point where if the U.S. government taxed Americans 100% of their income, the tax receipts generated would not be enough to balance the budget. Likewise, if the U.S. government cut 100% of its spending including defense, but kept paying Social Security, Medicare and Medicaid, we would still have a budget deficit."
ReplyDeleteShit, I've been saying that exact same statement for 5 years. 100 percent taxes and 100 percent cuts still couldn't unscrew us from this situation.
The second phase has to do with illegal immigration amnesty. That will bring in millions of votes.
ReplyDelete