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Gigantic time bomb

By Armstrong Williams - 11/21/11 11:00 AM ET

Unfunded Medicare liability is $90 trillion.

Unfunded Social Security is $20 trillion.

How can any of us comprehend the kind of debt that this country has? I thought $15 trillion in debt was a lot; this is absolute nonsense.

What do we fund these liabilities with when the money becomes worthless?

It's like the universe; how do you get your hands around something that size?

There is no way this country is going to do anything but crash and burn — the only issue is on what day. When the government stops printing money, what happens?

Medicare and Medicaid strongly indicate that big government is caring for most people in our nation and as a result they have a gigantic time bomb sitting on their balance sheet.


Source:
http://thehill.com/blogs/pundits-blog/economy-a-budget/194789-gigantic-time-bomb
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