The Social Security Act was signed into law by President Roosevelt on Aug. 14, 1935.
The Social Security "trust" fund has $10.662 trillion in unfunded obligations as of Aug. 1.
Both Medicare and Medicaid (Title XIX of the Social Security Act) were signed into law by President Johnson on July 30, 1965.
Combined, Medicare and Medicaid have unfunded obligations of $39.612 trillion as of Aug. 1.
The prescription drug entitlement program was signed by President Bush on Dec. 8, 2003. In a brief six years, it already has $8.520 trillion in unfunded obligations.
See a pattern?
Thursday, August 27, 2009
Look at patterns: Entitlements are in deep debt
From Fredericksburg.com
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