Monday, March 24, 2008

YOUR $455,000 LOAN TO UNCLE SAM

The unfunded liabilities Uncle Sam has incurred on our behalf through already promised entitlements in programs such as Social Security, Medicare and the veterans benefits now exceed by $53 trillion, says Comptroller General David Walker, who heads the Government Accountability Office.
[snip]
Of course, every man, woman and child does not work ... when you divide the unfunded costs of promised entitlement benefits by the number of Americans who work full time, says Walker, it equals $410,000 per worker. A married couple making $80,000 per year would have to set aside all their income for more than five years to cover their share.
[snip]
Some day Americans will look back across the wreckage of our coming fiscal catastrophe and ask: Why didn't our leaders see it coming? The answer will be: They did.

[if we don't demand that our politicians address this issue they never will until after the disaster. Instead, we've presidential candidates promising yet more government entitlement programs being taken seriously...]


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