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(1) the US National Debt: nearly $14 trillion;
(2) Social Security Liability: nearly $15 trillion;
(3) Prescription Drug Liability: nearly $20 trillion; and
(4) Medicare Liability: nearly $78 trillion.
Total: nearly $113 trillion plus the National Debt.
Most important is that future liabilities mask today's soundness that can stay that way if current programs are properly administered. That's omitted from hyped scare tactics to convince future recipients to make unjustifiable sacrifices. Like them or not, they're coming, major media reports promoting the idea as well as politicians from both parties.
On August 9, 2010, for example, a New York Times editorial headlined, "The Latest on Medicare and Social Security," saying:
"Of course, neither program is sound for the long run. (Yet there's) time for lawmakers to reform and strengthen both (for) the long haul. (Required is) a combination of benefits cuts and tax increases, which could be distributed fairly and phased in over decades."
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