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Are You Surprised? The federal government's financial condition deteriorated rapidly last year

The government added $5.3 trillion in new financial obligations in 2010, largely for retirement programs such as Medicare and Social Security.

That brings to a record $61.6 trillion the total of financial promises not paid for. This gap between spending commitments and revenue last year equals more than one-third of the nation's gross domestic product.

Medicare: Obligation per household: $212,500

Federal debt: Obligation per household: $79,900

Military retirement/disability benefits: Obligation per household: $31,200

Federal employee retirement benefits: Obligation per household: $24,000

 

 

 

 

 

 

 


 

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When ObamaCare is implemented 100%, do see the numbers getting better?  Do you even care?  Is this national trend of financial uncertainty/fiscal vulnerability~ YOU want to leave for your children/grandchildren?


Answer Question
 
grlygrlz2

Asked by grlygrlz2 at 1:40 PM on Jun. 7, 2011 in Politics & Current Events

Level 39 (106,530 Credits)
Answers (24)
  • Total $534,000 per household in unfunded obligations....
    grlygrlz2

    Comment by grlygrlz2 (original poster) at 1:52 PM on Jun. 7, 2011

  • Hm, just like the rest of us ~
    tasches

    Answer by tasches at 1:56 PM on Jun. 7, 2011

  • no it does not surprise me. And it will get worse.
    daughteroftruth

    Answer by daughteroftruth at 1:57 PM on Jun. 7, 2011

  • Does not surprise me but it does make me sick! I cannot believe that people look at this and think its ok and we should just keep on doing what we are doing! Its time for REAL "hope" and "change".

    amazinggrace83

    Answer by amazinggrace83 at 1:57 PM on Jun. 7, 2011

  • I'd sure like my children to have affordable health insurance. If the private market can't provide it (which it clearly can't) then we're obligated to step up. Sure...it's expensive, that's why we have to prioritize. Having a healthy population is essential for any country so it seems like healthcare would be a priority.

    Blaming our nations financial problems on Obamacare is pretty short-sighted. We've been in trouble for quite a while, certainly a lot longer than Obamacare has been around.
    UpSheRises

    Answer by UpSheRises at 2:02 PM on Jun. 7, 2011

  • What I find interesting is that SOME think that simply taxing the rich will solve the unfunded over spending problems of our government...
    If it is $534,000 for EVERY household in America.... If those making over $150,000-200,000 account for less than 6% of American Househilds, what % tax rate will it take to break even? RIIIIIIIIGHT. ::sarcasm::.... Not possible... We need those making over $150,000 to spend, work, thrive... Many are already being taxed over 35%... How much more should the government take, DC Dems?
    grlygrlz2

    Comment by grlygrlz2 (original poster) at 2:05 PM on Jun. 7, 2011

  • Blaming our nations financial problems on Obamacare is pretty short-sighted. We've been in trouble for quite a while, certainly a lot longer than Obamacare has been around.


    No one is blaming... In fact those household obligations do NOT include ObamaCare at full force.... I said, "When ObamaCare is implemented 100%, do you see the numbers getting better?"


    Just wondering how the AFFORDABLE Healthcare ACT will help the nation unfunded overspending problem? By all accounts, it will only ADD to the problem....

    grlygrlz2

    Comment by grlygrlz2 (original poster) at 2:08 PM on Jun. 7, 2011

  • I'd sure like my children to have affordable health insurance. If the private market can't provide it (which it clearly can't) then we're obligated to step up. Sure...it's expensive, that's why we have to prioritize. Having a healthy population is essential for any country so it seems like healthcare would be a priority.


    Research healthcare BEFORE government involvement and government regulated HMO mandates.  I feel confident you will discover~  It WAS affordable..... Research what happens when the government gets involved The historical trends show COSTS GO UP. When government regulates~ Quality becomes a minimum expectation and not a matter of name, honor, service...  The facts are all there...  But it requires Americans to stop relying on the government to spoon feed them and do their OWN research.

    grlygrlz2

    Comment by grlygrlz2 (original poster) at 2:13 PM on Jun. 7, 2011

  • I don't see the numbers getting better for another decade...totally unrelated to Obamacare. If i understand correctly, i don't think the intention of Obamacare was to increase the financial health of the nation (although it was marketed as in externality), the intention was to ensure that everyone had health insurance, which it does.

    Well, expect for everyone who got vouchers.
    UpSheRises

    Answer by UpSheRises at 2:16 PM on Jun. 7, 2011

  • the intention was to ensure that everyone had health insurance, which it does.

    So...
    Even if it isn't affordable to the consumer, it IS Healthcare.
    Even if it isn't affordable to the long term financial health of our nation, it IS Healthcare.
    Even if it pushes people out of private insurers and into a less desirable government option, at least~ IT IS healthcare....

    Don't worry about who pays and how.... It is healthcare..... Got it..

    grlygrlz2

    Comment by grlygrlz2 (original poster) at 2:20 PM on Jun. 7, 2011

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