DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Each household in America owes $534,000.00 to pay this tab.

**Centurnion** · 07-07-2011, 01:51 AM

Those who don’t believe it — the folks who laugh at fiscal conservatives — got a wake-up call when USA Today hit the streets Monday with a headline that said:

“U.S. owes $62 trillion; Unfunded obligations amount to $534,000 per household.”

Got that? Each household in the United States owes $534,000 if the United States is to make good on its obligations to lenders and millions of Americans who expect benefits from Medicare and Social Security. In 2010 alone the government added $5.3 trillion in new financial obligations.

“The gap between spending commitments and revenue last year equals more than one-third of the nation’s gross domestic product,” the story stated.

The staggering $62 trillion is about $48 trillion more in debt than Americans have been led to believe. The government reports a national debt of $14.32 trillion, but USA Today explains that government doesn’t calculate what’s owed to seniors, veterans and retired government employees when reporting the debt. In the simplest terms, the $14.32 trillion represents the amount that has been borrowed to pay current obligations, but not debts incurred as promises. That’s like the head of a household accounting for car loans and the mortgage but pretending there is no obligation to provide food, health care promised allowances for the kids“

The government has promised pension and health benefits worth more than $700,000 per retired civil servant,” USA Today reported. “The pension fund’s key asset: federal IOUs.” Each household owes $534,000 (poll) - OUR VIEW - Colorado Springs Gazette, CO

So what to do--what are we to do? Oh I remember--let's tax the "rich"-

Today there are 18,000 baby boomers DAILY entering Social Security/Medicare programs and this will continue for the next 15 years.

And yet we have conservatives--liberals--and independents--stating--don't throw Grandma under the bus in the continual democrapperie rhetoric of MediSCARE.

07-07-2011, 01:51 AM	#1
Centurnion Join Date Oct 2005 Posts 414 Senior Member	Each household in America owes $534,000.00 to pay this tab. Those who don’t believe it — the folks who laugh at fiscal conservatives — got a wake-up call when USA Today hit the streets Monday with a headline that said: “U.S. owes $62 trillion; Unfunded obligations amount to $534,000 per household.” Got that? Each household in the United States owes $534,000 if the United States is to make good on its obligations to lenders and millions of Americans who expect benefits from Medicare and Social Security. In 2010 alone the government added $5.3 trillion in new financial obligations. “The gap between spending commitments and revenue last year equals more than one-third of the nation’s gross domestic product,” the story stated. The staggering $62 trillion is about $48 trillion more in debt than Americans have been led to believe. The government reports a national debt of $14.32 trillion, but USA Today explains that government doesn’t calculate what’s owed to seniors, veterans and retired government employees when reporting the debt. In the simplest terms, the $14.32 trillion represents the amount that has been borrowed to pay current obligations, but not debts incurred as promises. That’s like the head of a household accounting for car loans and the mortgage but pretending there is no obligation to provide food, health care promised allowances for the kids“ The government has promised pension and health benefits worth more than $700,000 per retired civil servant,” USA Today reported. “The pension fund’s key asset: federal IOUs.” Each household owes $534,000 (poll) - OUR VIEW - Colorado Springs Gazette, CO So what to do--what are we to do? Oh I remember--let's tax the "rich"- Today there are 18,000 baby boomers DAILY entering Social Security/Medicare programs and this will continue for the next 15 years. And yet we have conservatives--liberals--and independents--stating--don't throw Grandma under the bus in the continual democrapperie rhetoric of MediSCARE.
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