Total Unfunded Liabilities Now Reach 99 Trillion: New Reading of Obamacare Finds 17 Trillion Additional Debt

ZeroHedge reports:

Two years ago, when introducing then promptly enacting Obamacare, the president stated that healthcare law reform would not cost a penny over $1 trillion ($900 billion to be precise), and that it would not add ‘one dime’ to the debt. It appears that this estimate may have been slightly optimistic… by a factor of 1700%. Because coincident with the recent Supreme Court debacle, in which a constitutional law president may be about to find that his magnum opus law is, in fact, unconstitutional, someone actually read the whole thing cover to cover, instead of merely relying on the CBO’s, pardon Morgan Stanley and Goldman Sachs’, funding estimates. That someone is Republican Jeff Sessions who after actually running the numbers has uncovered that the true long-term funding gap is a mind-boggling $17 trillion, just a tad more than the original sub $1 trillion forecast. This latest revelation means that total underfunded US welfare liabilities: Medicare, Medicaid and social security now amount to $99 trillion! Add to this total US debt which in 2 months will be $16 trillion, and one can see why Japan, which is about to breach 1 quadrillion in total debt (yen, but who’s counting), may want to start looking in the rearview mirror for up and comer competitors. And while Obama may have been taking creative license with a number that is greater than total US GDP, he was most certainly correct when saying that Obamacare would not add a penny to US debt. Because the second the US government comes to market to fund a true total debt/GDP ratio of 750%, it is game over, and the Fed will have its hands full selling Treasury puts every waking nanosecond to have any time left for the daily 3pm stock market ramp.

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This is totally sustainable.

I fail to see what the problem is.

We have a printing press.

  • Bankrupt

    We are bankrupt lol obama bankrupt lol obama style bend over and take itno lube 99 tillion in dept lol obama style he going on a 4taxi million plus dollar vacation u are paying for lol obama style that doggie style lets send him to be the first to visit mars lol with whats left of borrowing power first class obama style maby he can bankrupt mars !!also lol the jokes on U bend over and take it u and your kids kids kids will be paying for it