Tuesday, March 1, 2011

Drowning In Red Ink

Charles Koch writing in the Wall Street Journal, outlined some shocking numbers regarding the massive debt Americans face.

Read the whole thing, but here is the stunning fact from the piece:

"Federal data indicate how urgently we need reform: The unfunded liabilities of Social Security, Medicare and Medicaid already exceed $106 trillion. That's well over $300,000 for every man, woman and child in America (and exceeds the combined value of every U.S. bank account, stock certificate, building and piece of personal or public property)".

That's 1.2 million for my family!

Seriously, how can politicians continue to advocate more spending in light of this crushing debt? Nero was a piker compared to our so-called leaders.

1 comment:

King Dinglefritz's Blog of Moronica said...

Washington fiddles while America burns.