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Apr 25 2012

Medicare’s Unfunded Liability: $38,600,000,000,000.00

Medicare alone may be enough of a disaster to sink the entire economy:

Medicare faces an unfunded liability of $38.6 trillion, according to the Medicare Trustees report released Monday.

The unfunded liability is the amount that has been promised in benefits to people now alive that will not be funded by the tax revenue the system is expected to take in to pay for those benefits. …

The $38.6 trillion in unfunded benefits Medicare is expected to pay over the next 75 years equals $328,404.43 for each of the 117,538,000 households the Census Bureau said there were in the United States in 2010.

Combine this with Medicaid, Social Security, Obamacare, outrageously extravagant government pensions, and more welfare programs than even a federal bureaucrat could name and it isn’t death by a thousand cuts; it’s death by a thousand severed limbs. Entitlements are bleeding America to death. If you doubt that this is deliberate, watch any Democrat react to a suggestion that we reduce the rate of growth of federal spending, even now that we are staring insolvency in the face.

Out of the ruins of what was once America, they will build their coercive collectivist utopia, in accordance with the gospel of Cloward and Piven.

Circling the drain.

On a tip from AC.

9 Responses to “Medicare’s Unfunded Liability: $38,600,000,000,000.00”

  1. AC says:

    No worries, I’m sure Mittens McMilquetoast will appoint a blue ribbon commission to study some bipartisan cutbacks to increases in future years.

  2. Unonymous says:

    Well how else are our seniors supposed to pay for their erection pills?

  3. LastStandingAmericans says:

    Well, almost time to move to Canada! If Obama is reelected I’m gone!

  4. big-pete says:

    Out of the ruins of what was once America, they will build their coercive collectivist utopia, in accordance with the gospel of Cloward and Piven.

    But little Mouse, you are not alone,
    In proving foresight may be vain:
    The best laid schemes of mice and men
    Go often awry,
    And leave us nothing but grief and pain,
    For promised joy!

  5. Eric says:

    I think a better analogy of the “thousand cuts of death” would be the wood chipper scene from the movie Fargo.


  6. Dr. 9 says:

    I wonder who will be mailing out all those welfare checks and food stamps when the economy collapses.

  7. whotothewhat says:

    When Social Security and Medicare and welfare all collapse most likely right before I am to retire and after paying into that ponzi scheme for decades. I will light cigars with dollar bills that will be rather useless as currency and laugh and laugh. Then load my shotgun and wait for the looters.

  8. Goldenfoxx says:

    We just retired and we’ll ride the horse until it drops dead. We paid into the pozi scheme all of our working lives and will take whatever is due us. I see no reason after it collapses for anyone who has a job, go to work and slave for others. Obummer the socialist hasn’t a clue. Beans, bullets and bandaids – get some!

  9. The MUSEman says:

    Reality check, please.

    Doesn’t the “Unfunded Liabilities” number represent an aggregate total looking forward 50 or 75 YEARS in advance? Most businesses can’t look past the next quarter, and only budget for the next year or so. And, doesn’t it become a problem only if all of the liabilities become due and payable at the same time? Who is going to demand full payment?

    I heartily agree that while government has practiced deficit spending for decades, the current government has taken deficit spending to an entirely new level of total insanity. But, the issue isn’t the TOTAL size of the liability, but rather it’s for a government – whether it’s federal, state, or local – to spend within their means: Most people’s eyes glaze over when they hear “x trillion dollars”: It has no practical significance to them, or the consequence happens so far into the future they either don’t care or don’t recognize it. It would be much better to “think nationally but work locally” by continually reminding them ad nauseum that”for every dollar the government collects in taxes and fees it spends (some amount more than a dollar)”, and that “extra spending” has to come out of their pockets somehow.

    Just saying… and,

    Thanks for reading!

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