Federal Govt. $53 trillion in debt on socialism promises

Socialism always goes bankrupt. Look at what happened to the old Soviet Union.

It won’t be long before another socialist entity, the U.S. government, goes belly up. According to a new report by the U.S. government itself, as described by AP:

The government is promising $45 trillion more than it can deliver on Social Security, Medicare and other benefit programs….

That’s $45,000,000,000,000.00

The $45.1 trillion shortfall has increased by nearly $1 trillion in just one year, according to the administration’s “Financial Report of the United States Government” for 2006. And, it’s up 67.8 percent in just the past four years. In 2003, the shortfall between promised benefits and revenue sources over a 75-year period was put at $26.9 trillion.

The shortfall includes Socialist Security and Medicare in addition to Railroad Retirement and the Black Lung program.

When the gap in funding social insurance programs is added to other government commitments, the total shortfall as of Sept. 30 represented $53 trillion, up more than $2 trillion in just a year, the report said.

That’s $53,000,000,000,000.00.

Your children and grandchildren will be paying that — unless the government goes bankrupt, which it will. Why should your children and grandchildren pay for government workers who aren’t even shirking anymore, but retired?

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