Monday, January 26, 2009

$53 TRILLION Shortfall?

"Americans face a ‘looming entitlement crisis’ in which every American household already shares nearly $500,000 in debt, Senate Minority Leader Mitch McConnell (R-Ky.) said Friday at the National Press Club.
The General Accounting Office of the federal government estimates that, in total, the federal government currently faces a $53 trillion shortfall to cover the projected costs of promised entitlement benefits, such as Social Security, Medicare, Medicaid and other programs."

I hope you don't have any money in the bank or assets, because they will be going to the government to cover this $53 trillion shortfall. Guaranteed.

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