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Tuesday, September 30, 2008

The Monsoon of incompetence

Heritage has an article which outlines two more glaring instances of Congressional incompetence. Again, this is all about the onrushing Social Security and Medicare tsunami.
The title is "
$700 Billion bailout? You ain't seen nothin' ".
A number of times in the article Congress has been apprised of this coming situation. And just like the Fannie Mae and Freddie Mac implosion, the Maxine Waters, Barney Franks and Chris Dodds of Congress smiled, yawned and tell us all is OK.
If you need a graphic (double click on the graphic, then again to expand):

BTW, the $40,900,000,000,000 is a conservative current figure
. It means that $40,900,000,000,000 needs to be put away TODAY, NOW to meet all future obligations. $4,650,000,000,000 is added to that figure each year. Every year.


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