According to the USA Today article this morning, the US now has obligations in excess of $57.3 Trillion, up $2.5 Trillion from last year. This is $531,000 for every man, woman and child in the USA. These obligations include Social Security, Medicare, Veterans benefits, Government pensions, and government debt.
This is not a Republican or Democrat issue. Both parties are equally culpable in this disaster. Unfortunately it might be too late to do anything about it. One thing is for certain though, the payments people were expecting in the future will have to be cut if we are to be saved. This means lower social security payments, less care with Medicare, cuts in Veterans programs, and lower government pensions. Congress will have to cap the budget and spend much more frugally if future generations are to enjoy prosperity. There is absolutely no way we can tax future generations enough to cover this short fall. We should all be very alarmed and hold our existing politicians accountable.
Bill for taxpayers swells by billions
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