Saturday, December 12, 2009

Insanity???

The 2009 Social Security and Medicare Trustees Reports show the combined unfunded liability of these two programs has reached nearly $107 trillion in today's dollars! That is about seven times the size of the U.S. economy and 10 times the size of the outstanding national debt. Of these, Medicare's future liabilities total more than $89 trillion..

In the face of this, the Senate is debating expanding Medicare to cover people as young as 55, which will make the funding problem even worse! This is unbelievable! Have the Democrats taken leave of their senses?? Are they determined to have a one-term president? Have they lost all sight of fiscal reality??