Wednesday, December 14, 2005

Open those wallets wide, kids - From National Journal: “"Demography is destiny," warns David Walker, head of the Government Accountability Office, in his frequent presentations to policy makers about the looming fiscal crunch. Already, he tells audiences, the government has implicitly promised health and retirement benefits to the elderly worth $33 trillion in today's dollars over the next 75 years -- an obligation that works out to about $266,000 for each full-time worker. "We're on an imprudent and unsustainable path," Walker told National Journal.” No spit, Sherlock.

1 comment:

Robert said...

I really think the numbers you give are modest. Our balance of payments deficit for this last year is about $700 Billion; that is the real headache.