Under Social Security, Medicare, Medicaid and other entitlement programs, the US government has an unfunded liability of about $200 trillion. Add that to conventional measure of debt and our true debt to GDP ratio is 1,025%! Our fiscal future gives us two unpalatable alternatives: either raise all tax rates by 60% or cut spending by 47%. READ MORE.
Kotlikoff in The Hill: The U.S. is Broke
John C. Goodman is President of the Goodman Institute and Senior Fellow at The Independent Institute. His books include the soon-to-be-published updated edition of Priceless: Curing the Healthcare Crisis, the widely acclaimed A Better Choice: Healthcare Solutions for America, and New Way to Care: Social Protections that Put Families First. The Wall Street Journal and National Journal, among other media, have called him the “Father of Health Savings Accounts.”
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