Taxpayers are on the hook for an extra $55,000 a household to cover rising federal commitments made just in the past year for retirement benefits, the national debt and other government promises, a USA TODAY analysis shows.
The 12% rise in red ink in 2008 stems from an explosion of federal borrowing during the recession, plus an aging population driving up the costs of Medicare and Social Security.
That’s the biggest leap in the long-term burden on taxpayers since a Medicare prescription drug benefit was added in 2003.
[blockquote] Ch-ch-ch-ch-changes
Turn and face the strange
Ch-ch-changes
Don’t want to be a richer man
-David Bowie
[/blockquote]
It’s only money. What’s the problem?
And, don’t sweat it; like, comrade, you can keep the change. The five year plan will work spectacularly.