When you depsoit your money in the bank, you feel comfortable because of those FDIC plates that tell you that your money is insured.
Well, it is true that your money is insured, but here is something that you may not have known...if the U.S. Government had to pay out on that FDIC insurance on a mass scale, it could total up to $3.4 trillion based on current deposit rates.
Where do you think the U.S. Government will get that $3.4 trillion dollars when it needs it? Why from the citizens, of course, through a tax hike, where else?
Here are some other things that you might not know.
The U.S. Government insures American farmers - we all know that - but did you know that the potential for loss could be as high as $41 billion in a single farm season?
When you buy flood insurance, chances are that you are buying that flood insurance from the U.S. Government because almost all private insurance companies will not take on the risk. An unheard-of catastrophic flood season could potentially carry a bill for the tax-payers of $643 billion.
How about nuclear power plants? Did you know that once an accident bill at a nuclear power plant exceeds $9.4 billion, there are laws in place that say every penny over that amount will be paid for by the U.S. Government, again, meaning the tax-payers?
Now, here is the real kicker. You might work a job where you have no pension, or no retirement plan, but when the U.S. Government steps in to bail out failed pension plans through The Pension Benefit Guaranty Corp., it uses your income tax dollars to bail out the pension. It doesn’t matter what side of the political spectrum you are on...that’s gotta upset you.
