Add underfunded pensions to National debt

[bjb22]

Per Business Week the dollar amount of underfunded public pension plans in the U.S. is in excess of $700 billion. Clearly, this startling shortfall will have to eventually be paid by the tax payer.

If we add the amount to our National Debt of $7.8 trillion the total of said debt is in excess of 80% of our yearly GDP.

The U.S. is precariously close to being bankrupt.

[mr pru]

Don't worry-Bush is going to get us out of debt. There's plenty of oil under Iraq's soil.

Why do you think we're there?

Don't forget-major combat operations have been over about two years now.

Whew!!-What a relief!

[bjb22]

Iraq's 350 billion bbls of estimated crude reserves has a total market value of $17.5 trillion (@$50 per). Even if we obtained rights to 25% (equal to what France had) that would translate to $4.4 trillion over say 50 years. That's not even half of what we owe NOW and the with calculating the diminishing dollar factor and oil depletion (as well as production costs and royalties) it's not near the amount of money we need.

Yes, oil is a factor (and obviously central to war) but is not in and of itself the answer to our financial problems.

[mr pru]

I was being sarcastic.

[bjb22]

Oh.....I later read your post concerning President Bush and realized you were being sarcastic.