It’s much worse than I thought folks.
Remember that $850 billion number for FY 2011 on medical care that I’ve been tossing around?
The numbers are worse than they appear. Materially worse.
Here’s the reality: Medicare and Medicaid services, including the “slide it to the states” for Medicaid, spent $1.053 trillion in FY2012.
We took in just $201 billion in Medicare taxes.
That is, the government is spending five times what it is taking in on health care.
Where is the discrepancy? In the Medicaid department; the “as spent” figures, unless you look real closely, hide the giveaway to the states. But that of course is BS as there is no magical money fairy.
For Social Security (including disability) the government took in $572 billion in FY2012. But the government spent $773 billion on both retirement and disability, or 35% more than it taxed.
That’s not the only shocker. We gave $77 billion to people in the form of Earned Income and Child credits in excess of tax liability — that’s the amount that we literally handed out in welfare for simply being alive.
And we did not spend $180 billion on interest either — we spent $359 billion.
We can survive the Social Security problem.
We cannot possibly survive spending five times what we take in via Medicare taxes and lying about interest cost will blow up in our face as well.
This must stop now.