good times

[dmarc117]

http://www.usatoday.com/news/washington/20...5-28-debt_N.htm

 

Taxpayers are on the hook for an extra $55,000 a household to cover rising federal commitments made just in the past year for retirement benefits, the national debt and other government promises, a USA TODAY analysis shows.

 

Key federal obligations:

 

• Social Security. It will grow by 1 million to 2 million beneficiaries a year from 2008 through 2032, up from 500,000 a year in the 1990s, its actuaries say. Average benefit: $12,089 in 2008.

 

• Medicare. More than 1 million a year will enroll starting in 2011 when the first Baby Boomer turns 65. Average 2008 benefit: $11,018.

 

•Retirement programs. Congress has not set aside money to pay military and civil servant pensions or health care for retirees. These unfunded obligations have increased an average of $300 billion a year since 2003 and now stand at $5.3 trillion.

 

[TimC]

When Bernie Madoff did it, he was thrown in prison. When our Government does it, they get re-elected.

[Kid Cid]

When Bernie Madoff did it, he was thrown in prison. When our Government does it, they get re-elected.

 

That's because our government doesn't have to show a P&L statement every quarter.

[skylive5]

"•Retirement programs. Congress has not set aside money to pay military and civil servant pensions or health care for retirees."

 

Bet they have set aside money for their pensions though.

[AtomicCEO]

Wow. Hard to believe that just 9 years ago we had a budget surplus.

[Perchoutofwater]

Wow. Hard to believe that just 9 years ago we had a budget surplus.

 

Or that after bursting of the tech bubble and 9/11, while in the midst of fighting a war, that the Bush tax cuts were starting to take hold, and the deficits were getting smaller and smaller until the democrat controlled congress passed a bloated budget for 2008 that ended up being almost four times the size of the previous year. . Of course that budget as bloated as it was pales in comparison to every projection given for any year in the next 8 years, whether it be the rosy Whitehouse projections or the more realistic CBO projections.

[wiegie]

the Bush tax cuts were starting to take hold, and the deficits were getting smaller and smaller

For the love of God, man, do you not understand that the deficit spiked as a direct result of the tax cuts? We have been over this ad nauseum.

[muck]

I got nothing other than "wow".

[Perchoutofwater]

For the love of God, man, do you not understand that the deficit spiked as a direct result of the tax cuts? We have been over this ad nauseum.

 

Could it be the deficits spiked because the tech bubble, 9/11 and the cost of mobilizing an army? If they spiked because of the tax cuts, then why were deficits falling until the Dems took over in congress? If you could explain why the deficits were trending down in spite of the tax cut then I might be inclined to believe you.

[TimC]

Federal Sales Tax Coming? What's another 10% anyways to pay for Obama making it rain.

 

Once Considered Unthinkable, U.S. Sales Tax Gets Fresh Look

[Big John]

Federal Sales Tax Coming? What's another 10% anyways to pay for Obama making it rain.

 

Once Considered Unthinkable, U.S. Sales Tax Gets Fresh Look

Locked thread

[TimC]

Locked thread

 

Like anyone reads H8Tank's threads.

[SheikYerbuti]

[Ursa Majoris]

Federal Sales Tax Coming?

Not before time.