EFTA01123234.txt

"Source. White House Office of Management and Budget."

"Source: 1910- 1930 per Census Bureau."

"Federal government is financially responsible for all or the majority of Defense, Social Security, Medicare and Interest Payments on federal debt"

"Federal government is financially responsible for all or the majority of Defense, Social Security, Medicare"

"Medicare + Federal Medicaid $724B"

"Social Security ... 707"

"Includes discretionary spending on TARP, GSEs, and economic stimulus"

"Includes discretionary spending on TARP, GSEs, and economic stimulus"

"National Commission on Thai FlesponsibiAry and Reform. The Moment of Truth: Report oldie National Commission on Fiscal ResponsibiMy aid Reform- 12/1/1"

"Significant Increase owing to on-going War on Terror"

"EFTA01123418 through EFTA01123424"

"CBO analysis shows that for every 0.1 percentage point (pps) increase in real GDP annual growth rate above CBO's baseline estimate for F2011-F2020E, U"

"USA Inc. Created and Compiled by Mary Meeker February 2011"

"former Morgan Stanley colleagues whose contributions to this report were invaluable"

"Al Gore... provided inspiration and insights as the report developed"

"Foreword George P. Shultz, Paul Volcker, Michael Bloomberg, Richard Ravitch and John Doerr"

"Thomas Jefferson and Alexis de Tocqueville knew that — armed with the right information — the enlightened citizenry of America would make the right de"

"Since their creation in 1965, both programs have expanded markedly. Medicare now serves 15% of the population"

"Since their creation in 1965, both programs have expanded markedly. Medicaid now serves 16% of all Americans"

"the nonpartisan federal agency charged with reviewing the financial impact of legislation."

"what Treasury calls heritage or stewardship assets like national parks."

"but this assumes that growth in Medicare costs will slow — an assumption the CBO admits is highly uncertain"

"Since the Great Depression, USA Inc. has steadily added business lines and, with the best of intentions, created various entitlement programs."

"net worts per Dept of Treasury. 1010 Financial Report or the U.S. Government"

"Gordon Adams and Matthew Leatherman, A Leaner and Meaner National Defense, Foreign Affairs"

"Gordon Adams and Matthew Leatherman, A Leaner and Meaner National Defense, Foreign Affairs"

"Carmen Reinhart and Kenneth Rogoff observed from 2700 historical annual data points... For more information, see Reinhart and Rogoff, Growth in the Ti"

"Carmen Reinhart and Kenneth Rogoff observed from 2700 historical annual data points... For more information, see Reinhart and Rogoff, Growth in the Ti"

"deficits from Social Security could add $11.6 trillion (or 140%) to the public debt by 2037E, per Congressional Budget Office (CBO)"

"One-time expenses in F2008 include $14B payments to Freddie Mac"

"F2009 includes $279B net TARP payouts, $59B payment to Fannie Mae & Freddie Mac"

"Source: Greg Jonas, Morgan Stanley Research"

"Laurence J. Kotlikoff, Alan J. Auerbach, and Jagadeesh Gokhale. Generational Accounting: A Meaningful Way to Assess Generational Policy? published on "

"net worth per Dept. of Treasury, 2010 Financial Report of the U.S. Government"

"Forecasts generally come from 3rd-party agencies like the Congressional Budget Office (CBO)."

"net worth per Dept of Treasury, 2010 Financial Report of the U.S. Government"

"Source: Cash flow per White House Office of Management and Budget"

"using corporate accounting rules, per Orin S. Kramer, 'How to Cheat a Retirement Fund' 9/10."

"Ml USA Inc. xv ... USA Inc. February 2011"

"USA Inc. would need real GDP growth of 6-7% in F2012-14 and 4-5% in F2015-20, according to our estimates based on CBO data"

"its tertiary (college) educated population will double over the next ten years, according to Morgan Stanley analysts"

"A Federal Reserve study in 2010 shows that immigration does not take jobs from U.S.-born workers but boosts productivity"

"according to a Peter G. Peterson Foundation survey in 11/09"

"63% according to a 2007 Pew Research study"

"This work's licensed for noncommercial distribution... under the Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported CC BY-NC-ND license"

"Ben Bernanke, Chairman of the Federal Reserve Testimony before House Budget Committee, June 9, 2010"

"Paul Volcker, Former Chairman of the Federal Reserve"

"Paul Volcker... Chairman of President Obama's Economic Recovery Advisory Board"

"Souece: John Cogan. Sianford LW"

"management (the government) has committed more long-term benefits through 'entitlement' programs"