Leap in U.S. Debt Hits Taxpayers with 12% MORE RED INK

peaceandlove · 05-31-2009, 07:26 PM

Leap in U.S. Debt Hits Taxpayers with 12% MORE RED INK

Bottom line: The government took on $6.8 trillion in new obligations in 2008, pushing the total owed to a record $63.8 trillion.

By Dennis Cauchon, USA TODAY

May 31, 2009

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.

The 12% rise in red ink in 2008 stems from an explosion of federal borrowing during the recession, plus an aging population driving up the costs of Medicare and Social Security.

That's the biggest leap in the long-term burden on taxpayers since a Medicare prescription drug benefit was added in 2003.

Article continues: http://www.campaignforliberty.com/wire.php?view=5588

RED INK LINK

US DEBT CLOCK (Debt Per Citizen Today $36,925 ): http://www.usdebtclock.org/

Wow, if you try to do anything else on your computer while that debt clock is running in another page, everything slows way down!

05-31-2009, 07:42 PM

This is their excuse, an aging population drives up costs. Yes their is an unprecedented number of citizens reaching their golden years and requiring more care and services. The real costs are hidden in the inefficiency in operating the services and the outrageous practices of the government and private sector. Unnecesary paperwork, unprecidented profits in the drug industry, lobbying expenses, payoffs, and greed. Cut down on these areas and we would be able to meet our obligations. I know because this was my job for many years and I had to fight tooth and nail to try and save taxpayer money and receive daily threats from those who thought they were above the law and government regulations. Billions could be saved with honest people administering these services.

shred · 06-01-2009, 10:10 AM

Let me just say, Theres enough smarts & technology in the world to feed , cloth , house , educate, everyone in the world , taking care of the earth....without destroying the earth & everything on it. Only if man could see, we are all ONE !

shred

05-31-2009, 07:26 PM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Leap in U.S. Debt Hits Taxpayers with 12% MORE RED INK Leap in U.S. Debt Hits Taxpayers with 12% MORE RED INK Bottom line: The government took on $6.8 trillion in new obligations in 2008, pushing the total owed to a record $63.8 trillion. By Dennis Cauchon, USA TODAY May 31, 2009 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. The 12% rise in red ink in 2008 stems from an explosion of federal borrowing during the recession, plus an aging population driving up the costs of Medicare and Social Security. That's the biggest leap in the long-term burden on taxpayers since a Medicare prescription drug benefit was added in 2003. Article continues: http://www.campaignforliberty.com/wire.php?view=5588 RED INK LINK US DEBT CLOCK (Debt Per Citizen Today $36,925 ): http://www.usdebtclock.org/ Wow, if you try to do anything else on your computer while that debt clock is running in another page, everything slows way down! Last edited by peaceandlove; 06-13-2009 at 11:22 PM.

05-31-2009, 07:42 PM	#2
sleepingnomore Guest Posts: n/a	Re: Leap in U.S. Debt Hits Taxpayers with 12% MORE RED INK This is their excuse, an aging population drives up costs. Yes their is an unprecedented number of citizens reaching their golden years and requiring more care and services. The real costs are hidden in the inefficiency in operating the services and the outrageous practices of the government and private sector. Unnecesary paperwork, unprecidented profits in the drug industry, lobbying expenses, payoffs, and greed. Cut down on these areas and we would be able to meet our obligations. I know because this was my job for many years and I had to fight tooth and nail to try and save taxpayer money and receive daily threats from those who thought they were above the law and government regulations. Billions could be saved with honest people administering these services.

06-01-2009, 10:10 AM	#3
shred Avalon Senior Member Join Date: Sep 2008 Location: Maine Posts: 119	Re: Leap in U.S. Debt Hits Taxpayers with 12% MORE RED INK Let me just say, Theres enough smarts & technology in the world to feed , cloth , house , educate, everyone in the world , taking care of the earth....without destroying the earth & everything on it. Only if man could see, we are all ONE ! shred