Wednesday, June 24, 2009

Quote of the day

Adding this new, massive, health care entitlement on top of the enormous entitlement mess we already have could not be more ridiculous and wildly irresponsible. The latest Trustees' Reports show that the current unfunded liability for Medicare alone is $89 trillion. Social Security adds another $15.1 in unfunded liabilities, for a total of $104 trillion. And that doesn't even count Medicaid. The entire American economy right now only produces about $14 trillion a year.


From "Washington's Plot to Explode Your Taxes" by Peter Ferrar ... (One of my favorite writers, by the way).

3 comments:

Bob Qat June 24, 2009 at 11:06 AM  

104 trillion.... That's closing in on the quadrillions.

.1 Quadrillion dollars.

Ow.

Euripides June 24, 2009 at 11:57 AM  

Government stopped looking at what these numbers really mean a long time ago. It's such sad state when a trillion, even a billion dollars means nothing to Washington spendthrifts.

Maggie M. Thornton June 25, 2009 at 8:55 AM  

When Ferrar said "they have a plan," Obama began planning years ago. He and those behind him definitely have a plan.

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