If the federal government is a business corporation, it is seemingly not well managed economically, although the relationship of government and economy is a complicate one.
-USA. Inc is $10 trillion in debt, and over $400 billion in deficit, on tax revenue of $2.5 trillion.
-Employees are more on their own when it comes to retirement. Private Pension covers less than half of workers, and Social Security is $4.3 trillion short for the next 75 years.
-It spent over $ 1 trillion in medical expenditure, or 4000 per spender. The rest 50 million (20% of 65-) don’t have Health Insurance. $44 trillion will be needed to fulfill Medicare for the next 75 years.
-It sent almost $2 billion a day for foreign oil, a lot yet to be done for energy independence.
The numbers seems daunting, but it doesn’t have to worry you – if you put the US economy up for sale on eBay (Please don’t do it, Alice.), its price tag would be $1,325.3 trillion.
Sep 18, 2008
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