”Considering ... implicit commitments and contingencies that the federal government has pledged to support, the federal government's fiscal exposures totaled approximately $53 trillion as of Sept. 30, 2007, up more than $2 trillion from Sept. 30, 2006, an increase of more than $32 trillion from ... Sept. 30, 2000. This translates into a current burden of about $175,000 per American or approximately $455,000 per American household.”
In other words, if everyone living gets the government benefits now promised, that's the bill.
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"AIG executives spent thousands during hunting trip
By IEVA M. AUGSTUMS – 1 day ago
CHARLOTTE, N.C. (AP) — A handful of top executives from American International Group Inc. spent thousands of dollars during a recent English hunting trip, even as the New York-based insurer asked for an additional $37.8 billion loan from the Federal Reserve"
http://ap.google.com/article/ALeqM5g3InVeHoYnmXZnM2ACXSgjG0-nIQD93R68VO0
What's the answer? European counties have been providing their citizens with medical and income safety nets for many many years and they seem to be doing very well.
We spend an awful lot of money being the world's policeman. That is a financial drain on us that needs be shared by the Europeans but we will have to pull back on our "Big Stick" diplomacy to get their cooperation.
We need to start supporting our own people first and stop the weapons scam.
If Europe wants to fight all the time let them food the bill.
The only thing wrong with S.S. is that the politicians can't keep their fingers out of the till.