Skip to comments.Each U.S. Household’s Share of Unfunded Medicare And Social Security Liability Is Over $538K
Posted on 04/24/2012 6:13:23 PM PDT by dewawi
(CNS News) 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 Medicare Trustees calculate the unfunded liability for a period of 75 years into the future.)
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.
(Excerpt) Read more at weaselzippers.us ...
Luckily, in a few years with inflation, $538K will buy a nice hot ham sandwich.
I’m going to print some checks that are backed up by the full faith and credit of nothing whatsoever, fill one out for $538,000.00, and mail it in to pay my share. If the Federal Reserve can do it so can I.
I hate being three generations late to a pyramid scheme.
Who cares, we need free student loans. /sarc
Every year thousands of so called ‘disabled’ people are added to Social Security. They’ll collect until they die - some will collect for 50 60 even 70 years. They’ll destroy the system for those who really are disabled - for the elderly and for those paying into the scam now...