How Much Debt Do You Own?

The "Big Three" - Social Security, Medicare and Medicaid - have underfunded promises several times the size of the national debt, according to Federal Reserve figures. One hundred and fifteen trillion dollars - a cool million dollars for each taxpayer - that's around eight times the total U.S. economy.

And you thought you were in debt before.

America is proving true the prophetic words of former British Prime Minister Margaret Thatcher: "The problem with socialism is that eventually you run out of other people's money." What America's liberals do not understand is that there is one fate far more cruel than not receiving other people's money: It is being falsely promised that you will receive other people's money in the first place. It's time politicians quit making promises they can't keep with money they don't have. It's time we be honest about the severity of this patient's condition.
Obamacare will end. The only mystery now is how. Downgraded America has simply run out of other people's money. Obamacare's last gasps will either be at the hands of responsible leaders with the strength and courage to unshackle America from it or with the outright financial collapse of America itself under the crushing burden of the unfunded-liability monster, but it will happen. It's Obamacare or America. I choose America.

Dr. Milton R. Wolf is a board-certified diagnostic radiologist and cousin of President Obama. He blogs at MiltonWolf.com.