Half A Million In Debt

[jeffrey]

You owe $500,000 more than you thought you did. According to a USA Today report, the federal, state and local governments have made promises which are worth more than half a million dollars for every family that still have not been funded. The vast majority of this cost is to cover retirement benefits for baby boomers. The total obligations by government agencies comes to $57.8 trillion which is the same as $510,678 of debt for every American household with costs predicted to increase.




Here are the costs broken down:

Medicare: $263,377 per household

Social Security: $133,456 per household

Federal debt: $42,538 per household

Military retirement benefits: $25,443 per household

State-local debt: $16,395 per household

Federal employee retirement benefits: $14,256 per household

State-local retirement benefits: $13,257 per household

Other federal: $1,956 per household

Total: $510,678 per household

Source: USA Today

[markio26]

boy!!!!!!!!!!!!!!!that is amazing info... thanks for posting this, jeffrey... i believe this and more debt plus... the govt needs to learn how to budget more effectively...