All of us Americans are quietly sitting aboard the U.S.S. “feel good” with (name your politician) piloting our ship. Little do we know that we are racing towards a $53 trillion dollar iceberg that will make the sinking of the Titanic look like a walk in the park. The $53 trillion dollar iceberg I am referring to is the Social Security and Medicare promises our politicians have made.
Do you have a spare $455,000 to pay your portion of this obligation? According to former Comptroller General of the United States, David Walker, this is the amount of money per household it will take to meet our obligations.
Why aren’t politicians talking about this or changing our course of direction to head off this impending tragedy? Why is this not the preeminent topic of political debate rather than super delegates or fanatical preachers? Is America listening? Does anyone care or are we all so consumed with the political bloodshed that we are enjoying our cruise on this “unsinkable” super structure?
Let me add some alarming perspective for you. Quoting U.S. Treasury Secretary Henry Paulson, he said, "Without change, rising costs will drive government spending to unprecedented levels, consume nearly all projected federal revenues, and threaten America’s future prosperity." Did he say what I think he just said? ALL FEDERAL REVENUES WILL BE CONSUMED BY THESE TWO PROGRAMS.
The iceberg is coming into sight. We are only 11 years away from 2019, when the Medicaid trust fund will become insolvent. With the speed at which our government operates, it may already be too late to avoid significant damage to our vessel.
What caused this iceberg to break away from the larger ice mass? Perhaps Al Gore was correct with his Global Warming theory (forget for a minute that this has been our coldest winter in 40 years). On the other hand, “burden passing” or inaction by one President/Congress to the next has caused the collapse of the ice structure and resulted in this massive $53 trillion dollar iceberg. Forget for a minute all your other political beefs and ask your President, your Congress, yourself – “what are you doing to melt this iceberg?”
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