"The only way that this game can continue is if the US government can continue to borrow gigantic piles of money at ridiculously low interest rates."In the United States today, we have a heavily socialized system that hands out checks to nearly half the population. In fact, 49% of all Americans live in a home that gets direct monetary benefits from the federal government each month according to the US Census Bureau."And it is hard to believe, but Americans received more than $2 trillion in benefits from the federal government last year alone."At this point, the primary function of the federal government is taking money from some people and giving it to others. In fact, more than 70% of all federal spending goes to 'dependence-creating programs', and the government runs approximately 80 different 'means-tested welfare programs' right now."But the big problem is that the government is giving out far more money than it is taking in, so it has to borrow the difference. As long as we can continue to borrow at super low interest rates, the status quo can continue."
"Back in 1965, only one out of every 50 Americans was on Medicaid. Today, more than 70 million Americans are on Medicaid, and it is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls."When Medicare was first established, we were told that it would cost about $12 billion a year by the time 1990 rolled around. Instead, the federal government ended up spending $110 billion on the program in 1990, and the federal government spent approximately $600 billion on the program in 2013."It is being projected that the number of Americans on Medicare will grow from 50.7 million in 2012 to 73.2 million in 2025."At this point, Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years. That comes to approximately $328,404 for every single household in the United States."Right now, there are approximately 63 million Americans collecting Social Security benefits. By 2035, that number is projected to soar to an astounding 91 million."Overall, the Social Security system is facing a $134-trillion shortfall over the next 75 years. The US government is facing a total of $222 trillion in unfunded liabilities during the years ahead. Social Security and Medicare make up the bulk of that."