Social Security, Medicare Will Cost $41 Trillion More than Available
"The future costs to maintain Social Security and Medicare will exceed available revenues by $41 trillion in the next 75 years, according to a government report, and those costs will likely require trillions of dollars in new taxes or spending cuts.
The June report by the Government Accountability Office (GAO) said that the 'unfunded liabilities' - or future planned costs for which funding has not been set aside by Congress - for Social Security alone in the next 75 years will exceed $7 trillion.
'One would need approximately $41 trillion invested today to deliver on the currently promised benefits not covered by earmarked revenues for the next 75 years,' the report said."
And this is just SS and medicare as it is now!
Not any new "free" healthcare mandates.
"The future costs to maintain Social Security and Medicare will exceed available revenues by $41 trillion in the next 75 years, according to a government report, and those costs will likely require trillions of dollars in new taxes or spending cuts.
The June report by the Government Accountability Office (GAO) said that the 'unfunded liabilities' - or future planned costs for which funding has not been set aside by Congress - for Social Security alone in the next 75 years will exceed $7 trillion.
'One would need approximately $41 trillion invested today to deliver on the currently promised benefits not covered by earmarked revenues for the next 75 years,' the report said."
And this is just SS and medicare as it is now!
Not any new "free" healthcare mandates.
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