Monday, November 10, 2008

While bailing out, U.S. is digging itself deeper into debt -- baltimoresun.com

Why is the Social Security and Medicare off balance sheet?

While bailing out, U.S. is digging itself deeper into debt -- baltimoresun.com:
Haven't we learned anything yet? The most pressing needs for long term security are hidden from view!
"And the official debt is dwarfed by off-balance-sheet liabilities for Social Security and Medicare, which Standard & Poor's calculates at more than $40 trillion in today's dollars over the next 75 years. The whole U.S. economy produced only $14 trillion in goods and services last year.

The bailout adds new pressure on America's debt grade, which has been a perfect 'triple-A' for decades."

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