Changes

===Present liabilities promised to [[Baby boom]]ers===

===Present liabilities promised to [[Baby boom]]ers===

 

The cost of Social Security benefits that were promised to 70 million Americans of the "baby-boom" generation exceeds $53 trillion dollars ($53,000,000,000,000).<ref>http://www.usatoday.com/news/nation/2004-10-03-debt-cover_x.htm</ref><ref>http://www.usatoday.com/news/graphics/debtcalculator/flash.htm</ref><ref>http://fiscalsolvency.com/the_3_parts_of_our_fiscal_crisis.htm</ref> To understand the magnitude of this figure by contrast, the [[World Bank]] estimates the [[GDP]] of the planet (total economic output) for the year 2008 as $61.063 trillion.<ref>http://www.google.com/publicdata?ds=wb-wdi&met=ny_gdp_mktp_cd&idim=country:USA&dl=en&hl=en&q=gdp#met=ny_gdp_mktp_cd&tdim=true  See also CIA World Fact Book [https://www.cia.gov/library/publications/the-world-factbook/geos/xx.html]</ref> The sum total of promises made to all working age adults in the U.S population is estimated at over $106 trillion,<ref>http://www.cnbc.com/id/38979552</ref><ref>http://www.forbes.com/2009/05/14/taxes-social-security-opinions-columnists-medicare.html</ref> more than one and half times the total annualized economic activity of the planet.

The cost of Social Security benefits that were promised to 70 million Americans of the "baby-boom" generation exceeds $53 trillion dollars ($53,000,000,000,000).<ref>http://www.usatoday.com/news/nation/2004-10-03-debt-cover_x.htm</ref><ref>http://www.usatoday.com/news/graphics/debtcalculator/flash.htm</ref><ref>http://fiscalsolvency.com/the_3_parts_of_our_fiscal_crisis.htm</ref> To understand the magnitude of this figure by contrast, the [[World Bank]] estimates the [[GDP]] of the planet (total economic output) for the year 2008 as $61.063 trillion.<ref>http://www.google.com/publicdata?ds=wb-wdi&met=ny_gdp_mktp_cd&idim=country:USA&dl=en&hl=en&q=gdp#met=ny_gdp_mktp_cd&tdim=true  See also CIA World Fact Book [https://www.cia.gov/library/publications/the-world-factbook/geos/xx.html]</ref> The sum total of promises made to all working age adults in the U.S population is estimated at over $106 trillion,<ref>http://www.cnbc.com/id/38979552</ref><ref>http://www.forbes.com/2009/05/14/taxes-social-security-opinions-columnists-medicare.html</ref> more than one and half times the total annualized economic activity of the planet. An editorial in ''[[USA Today]]'' claims "Without action, outlays on benefit programs such as Medicare and Social Security, combined with interest on the [[national debt]], are projected to grow so fast that they will devour all tax revenue in as soon as 20 years. That means every government department and agency, except for those that pay benefits and service the debt, could be eliminated — and Washington would still run a deficit."<ref>[http://www.usatoday.com/news/opinion/editorials/2010-11-11-editorial11_ST_N.htm Our view on government inaction:] Gridlock's just another word for lack of leadership, ''USA Today editorial, November 11, 2010.</ref>

===Reform===

===Reform===