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Line 10: − [[File:USA national debt to GDP ratio graph as of March 9, 2024.png|thumbnail|center|1200px|Graph of the U.S. national debt as a percentage of GDP.]] − {{Clear}}
National debt of the United States (view source)
Revision as of 06:30, March 9, 2024
, 06:30, March 9, 2024no edit summary
In addition, American taxpayers have been paying into the USA retirement program [[Social Security]] and its medical program for seniors called [[Medicare]] for decades. The Social Security and Medicare programs are now unfunded liabilities. If one combines the United States national debt with the unfunded liabilities of Social Security and Medicare, each American owes more than $500,000.<ref>[https://thehill.com/opinion/finance/585679-you-owe-more-than-500000-and-counting/ You owe more than $500,000 — and counting], The Hill, 12/14/21</ref> Many USA taxpayers will be unable to collect the amount they put in Social Security and Medicare by the time they need it because the programs will be cut back by then. In all likelihood, the Social Security and Medicare programs will become [[Means Test|means tested]]. See: [https://www.youtube.com/watch?v=EPjrFjAxwlw Prof. Antony Davies: 10 Myths About Government Debt]
In addition, American taxpayers have been paying into the USA retirement program [[Social Security]] and its medical program for seniors called [[Medicare]] for decades. The Social Security and Medicare programs are now unfunded liabilities. If one combines the United States national debt with the unfunded liabilities of Social Security and Medicare, each American owes more than $500,000.<ref>[https://thehill.com/opinion/finance/585679-you-owe-more-than-500000-and-counting/ You owe more than $500,000 — and counting], The Hill, 12/14/21</ref> Many USA taxpayers will be unable to collect the amount they put in Social Security and Medicare by the time they need it because the programs will be cut back by then. In all likelihood, the Social Security and Medicare programs will become [[Means Test|means tested]]. See: [https://www.youtube.com/watch?v=EPjrFjAxwlw Prof. Antony Davies: 10 Myths About Government Debt]
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==Debt of the US - Analysis of Bush and Obama presidencies==
==Debt of the US - Analysis of Bush and Obama presidencies==