Global Warming Scam by Congress continues to divert attention away from serious issues.
* Social Security faces an unfunded liability of $10.4 trillion.
* Medicare's unfunded liability is $61.6 trillion - six times greater than Social Security's.
* The prescription drug benefit alone faces a funding gap of $16.6 trillion - more than 50 percent greater than Social Security's.
* By 2020, the combined deficits in these programs will consume more than one-fourth of all federal income taxes.
* By 2030, about the midpoint of the baby boomer retirement years, deficits in the two programs will consume more than half of all federal incomes taxes.
* By 2050, when today's college students will reach retirement age, Social Security and Medicare will require more than three- fourths of all income taxes just to pay benefits currently promised.
(data from 2004 http://www.parapundit.com/archives/002013.html
Now, let us add the $14 Trillion in other spending from the last 8 years and the promise of more to come. Over $100,000,000,000,000 and climbing!
Our gift to our children and grandchildren: involuntary servitude?
We have some tough issues that politicians really do not want to fix. Welcome to the USSA.