Will I hve to pay more taxes eventually to cover the debt for fannie may and franckie mac?

Question

will I see any of my social security?should I cancel all accounts with all monthly bills that I don't need(cable, multiple phone lines, insurance{the last legal form of extortion},rent{when my landlord forcloses}, and start riding a bike to work, stashing my currency in gold and continue collecting guns? should I go green and stack my guns and ones?

Answer 1

You can bet that the people who got rich off of this will not.  You should ride a bike to work just for yourself and get all of the guns yo can afford. They will go up in value during the revolution.

Answer 2

The US government (meaning "we the people") will become a greater shareholder of the quasi-public corporations known as fannie may & freddie mac.

Where does any government obtain resources?

From taxes, primarily.

So, yes!  Tax revenue will be used to cover the fannie may/freddie mac debt.  This may come from income, personal & corporate, tax revenue while social security was planned to come from employment taxes.

The social security crisis which is looming has been caused by the multiple "IOUs" washington politiacians have borrowed from the social security funds to bankrolls what would have been shortages.  None of these "IOUs" have ever been paid back to the social security accounts.

That means that the huge stacks of money the baby boomers paid into the system went to pay for other programs & now the baby boomers expenses are to be paid from a smaller populations of wage-earner/tax-payers.  The possibility that social security will remain for younger workers is highly debatable.

Also, the prescription coverage (Plan D) aspect of Medicare, which was initiated under the Geo. W. Bush administration prevents volume discount pricing to obtain medications from the pharmaceutical mfrs, as is available to the the Veteran's Administration.

This handout to the drug mfrs. will only hasten the demise of Social Security & Medicare.