Social Security and Medicare

A Year Ago — Spiraling to Bankruptcy

A year ago (November 28), a very popular article was published under the title of “Spiraling to Bankruptcy.”

The article understates the financial obligations of the Federal government only one year later. Some estimates range as high as $200 Trillion. The real number is somewhere between $100 and $200 Trillion. No matter, the mathematics were impossible a year ago and are now worse. If the US government was dead a year ago, it is now deader than dead.

Spiraling to Bankruptcy

If the Government confiscated everything, the social programs would still be $50 trillion short and the Government would still be bankrupt. Furthermore, no company or individual would be left with anything.

The economy is in bad shape. Some say it is worse than any time since the Great Depression. I believe it is actually worseRead More »A Year Ago — Spiraling to Bankruptcy