Social Security and Medicare

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	Social Security and Medicare

mklosinski

8-17-2008 8:32 AM

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social security, medicare

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/0b2d06bf-c235-4bd5-a203-936902ac62c8/72D8B5DE-67C5-4471-8387-1B66DE500C99/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.cnsnews.com/public/Content/Article.aspx?rsrcid=33679" href="http://www.cnsnews.com/public/Content/Article.aspx?rsrcid=33679" style="font-size: 11px;">www.cnsnews.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cnsnews.com/public/Content/Article.aspx?rsrcid=33679"><DIV><B>Washington</B><B> (CNSNews.com)</B> – The future costs of maintaining Social Security and Medicare will be a “disaster” for younger generations, Dr. Walter Williams, the conservative economist and syndicated columnist, told <B>CNSNews.com</B> Tuesday. </DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cnsnews.com/public/Content/Article.aspx?rsrcid=33679"><DIV>
The report said that for Social Security and Medicare combined, the government would “need approximately $41 trillion invested today to deliver on the currently promised benefits not covered by earmarked revenues for the next 75 years.” </DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cnsnews.com/public/Content/Article.aspx?rsrcid=33679"><DIV>
“A lot of people say it’s between $60 and 70 trillion [dollars],” he said. “And the unfunded liability means that in order to pay for all of the problems, Congress needs to put in the bank $60 trillion, and keep in mind our GDP (gross domestic product) is only 15 or 14 [trillion dollars].”</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cnsnews.com/public/Content/Article.aspx?rsrcid=33679">“The only way that government can give one American citizen one dollar, is to first – through intimidation, threat and coercion – confiscate that one dollar from another American,” he said. </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/72D8B5DE-67C5-4471-8387-1B66DE500C99/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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