If you would like to know what the Congressional Budget Office (the one which opines that the new healthcare legislation will reduce the deficit!) has to say about the economy over the next 10 years follow the link below.
1. Over the next ten years spending for Social Security will exceed receipts from the payroll tax by over $700 Billion.
2. Medicare receipts will only cover 47 percent of expenditures over the next ten years leaving $4.1 Trillion to covered by general revenue sources
3. By 2020 80 percent of the entire US Government budget will be made up of spending on defense, Social Security, Medicare and Medicade and interest on the national debt.
