Debt Up $6.35T Since Ryan Predicted--in 2008-U.S. Was Headed Toward Bankruptcy

[Jroc]

Medicare Faces Unfunded Liability of $38.6T, or $328,404 for Each U.S. Household

Medicare faces an unfunded liability of $38.6 trillion, according to the Medicare Trustees report released Monday.

The unfunded liability is the amount that has been promised in benefits to people now alive that will not be funded by the tax revenue the system is expected to take in to pay for those benefits. (The Medicare Trustees calculate the unfunded liability for a period of 75 years into the future.)

The $38.6 trillion in unfunded benefits Medicare is expected to pay over the next 75 years equals $328,404.43 for each of the 117,538,000 households the Census Bureau said there were in the United States in 2010.

“From the 75-year budget perspective, the present value of the additional resources that would be necessary to meet projected expenditures, at current-law levels for the three programs combined, is $38.6 trillion,” reads the report.
“To put this very large figure in perspective, it would represent 4.3 percent of the present value of projected GDP over the same period ($907 trillion),” states the Trustees report.

Medicare Faces Unfunded Liability of $38.6T, or $328,404 for Each U.S. Household | CNSNews.com

 

[NYcarbineer]

Sticking it to the middle class is no plan either.

The 'middle class' consumes more of the goodies than ever before.

The 'middle class' should pay a hell of a lot more, because they are the DIRECT beneficiaries of these monstrous looming spending increases:

That chart is just another conservative argument for wasting more money on defense.

 

[Jroc]

We have 1.3, 1.4 trillion dollar budget deficits under the Republican-led house, where spending originates.

you idiot no budget has been passed in 3.5 years

You idiot it doesn't matter. Every federal dollar spent must originate in the House of Representatives. If the House doesn't pass a continuing resolution, the President can't spend money.

All spending originates in the House.

Obama shuts down the government and blames the Republicans for not funding it....they should have shut it down though

 

[initforme]

"So only people who make less than $250,000 a years are "hard working" Please... You're an idiot "

There goes the name calling. Notice also I never said people that make over 250 K are not hard working. But in your eyes someone who makes $40,000 a year just to barely scrape by is creating the problems. To me that is warped.

 

[Jroc]

Social Security Faces Unfunded Liability of $8.6T, or $73,167.83 Per Household

Social Security faces an unfunded liability of $8.6 trillion, according to the 2012 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds.


The unfunded liability is the amount that has been promised in benefits to people now alive that will not be funded by the tax revenue the system is expected to take in to pay for those benefits. (The Social Security trustees calculate the unfunded liability for a period of 75 years into the future, from 2012 to 2086)

The $8.6 trillion in unfunded benefits Social Security is expected to pay over the next 75 years equals $73,167.83 for each of the 117,538,000 households the Census Bureau said were in the United States in 2010.

However, the report also shows that when considering the unfunded obligations over an “infinite horizon”—the period extending into the indefinite future—the $8.6 trillion shortfall balloons to $20.5 trillion.

Social Security Faces Unfunded Liability of $8.6T, or $73,167.83 Per Household | CNSNews.com

 

[Jroc]

"So only people who make less than $250,000 a years are "hard working" Please... You're an idiot "

There goes the name calling. Notice also I never said people that make over 250 K are not hard working. But in your eyes someone who makes $40,000 a year just to barely scrape by is creating the problems. To me that is warped.

Where did I say that? Obama wants to tax people making over $250,000 because they are not "paying their fair share"

 

[8537]

you idiot no budget has been passed in 3.5 years

You idiot it doesn't matter. Every federal dollar spent must originate in the House of Representatives. If the House doesn't pass a continuing resolution, the President can't spend money.

All spending originates in the House.

Obama shuts down the government and blames the Republicans for not funding it....they should have shut it down though

Huh? When was the government shut down?

Obama wasn't President in 1997.