Friday, September 04, 2009

Where The US Economy Is Headed

Being informed is crutial to making an informed decision. Recently with all this talk of Health Care Reform, I decided on setting up a mailing list to get as much information I can from people I know in all walks of life. So far, one of the best articles I've read has to do with the rising cost of current Health Care and it's drain on the US Economy. Here's a great article about where the US Economy was in 2008 and where it is headed. One of the authors of this paper is David Walker, Former Comptroller of the United States (who was asked to leave the White House by Dick Cheney himself).

State of the Union's Finances: A Citizen's Guide

Quick Highlights:
- In 2008, the government subsidized private health care programs with more than $240 Billion.
- The cost of Social Security, Medicare and Medicaid add up to more than 40% of the National Budget (and it's expected to keep growing).
- Every year we don't balance the budget the US must take a loan from other countries and currently 48% of the Public Debt is held by foreign countries (China, Japan, etc...)

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