10 year deficit raised $2 trillion

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10 year deficit raised $2 trillion

Sunday, August 23rd, 2009 | Economics, Health Care, Social Security |

Zero Hedge - Long-Term Budget Deficit Revised, Now $2 Trillion Dollars Worse:

White House budget review set for release Aug. 25 will show cumulative deficits over the next decade amounting to $9 trillion, up from $7.1 trillion that the administration predicted in May, the official said on condition of anonymity because the figures have not been made public.

So that’s another $2 trillion that can’t fund health care.

My theory is that if Obamacare-style nationalized health care doesn’t happen by 2016 it won’t happen for the foreseeable future. By 2016 the depth of the government’s deficits will be so great that no national health care will be unfundable. Besides the deficit itself, the liabilities for Social Security and Medicare/Medicaid will eat up so much of the budget that we’ll face a crisis just trying to keep the existing programs intact. The public will finally realize how badly the government has managed its finances and promises.

Tags: deficit

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