Deeper in debt than anyone knows
The American Spectator
by Jeff Emanuel
03/24/09
It’s no secret to anybody who’s been paying attention to budget numbers that the United States, with its current GDP of just under $14 trillion, is sinking deeper into debt by the day, week, and month. However, what’s not generally known is that America’s national debts is actually $52 trillion larger than advertised, thanks to one specific area: Medicaid and Social Security payments owed to those who have already prequalified by paying into the system. No matter how you look at those numbers, that’s some real money — and that’s just what’s already owed folks who are over 22 and in the workforce or have already retired, all having paid into the system at some point. The program could be ended today, and we the taxpayers would still be left holding a $52 trillion IOU...
http://tinyurl.com/cmrkar
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=GDP
http://freepage.twoday.net/search?q=national+debt
http://freepage.twoday.net/search?q=taxpayer
by Jeff Emanuel
03/24/09
It’s no secret to anybody who’s been paying attention to budget numbers that the United States, with its current GDP of just under $14 trillion, is sinking deeper into debt by the day, week, and month. However, what’s not generally known is that America’s national debts is actually $52 trillion larger than advertised, thanks to one specific area: Medicaid and Social Security payments owed to those who have already prequalified by paying into the system. No matter how you look at those numbers, that’s some real money — and that’s just what’s already owed folks who are over 22 and in the workforce or have already retired, all having paid into the system at some point. The program could be ended today, and we the taxpayers would still be left holding a $52 trillion IOU...
http://tinyurl.com/cmrkar
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=GDP
http://freepage.twoday.net/search?q=national+debt
http://freepage.twoday.net/search?q=taxpayer
rudkla - 25. Mär, 09:36
