$700 Billion Bailout? You Ain't Seen Nothin': Coming Fiscal Firestorm

Excerpt:   Think $700 billion to bail out Wall Street is expensive? Just wait. The mortgage meltdown is cheap compared with the coming fiscal firestorm fanned by unfunded Social Security and Medicare costs. Together, these programs hold unfunded obligations totaling $41 trillion - 60 times larger than the proposed Wall Street bailout. And even this understates the difference, because $41 trillion is the current net value of the unfunded obligations over 75 years. The actual cumulative yearly deficits these programs face over the next 75 years are several magnitudes larger than $41 trillion.

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