$6.62 trillion plus $0.632 trillion plus $4.89 trillion = $12.142 trillion. By 2019, the government in the USA will need to pay $12.142 trillion in unfunded liabilities for government pensions.
Then there are "unfunded entitlements". These are healthcare costs that the government has to pay. Government pensions are a combination of monthly payments plus healthcare benefits (above and beyond Medicare benefits). The government currently owes $1.95 trillion in healthcare benefits for the Federal Employees Pension Plan. States, municipalities and government authorities owe an additional $4.2 trillion for retiree healthcare benefits. Then there's Medicare and Medicaid which cost $0.83 trillion in 2014. These costs go up by 6% a year. So, 2016 to 2021, $5.46 trillion will be owed for Medicare and Medicaid (average $1.09 trillion a year). Obamacare costs owed by the government are $0.18 trillion a year.
Add $1.06 trillion (for Medicare, Medicaid & Obamacare in 2015) to $6.15 trillion that the government has to pay for "unfunded entitlement" healthcare benefits promised to retired government employees (above and beyond Medicare) equals $7.21 trillion the government in the USA owes, currently, for healthcare promised.
Obamacare is adding $0.18 trillion a year to total government healthcare costs? Yeah, in subsidies. You thought Obamacare was going to make government healthcare costs go down in the US? Why would you think that? Because someone in the Federal government said that. Like I said, why would you think that. We know the Federal government people are liars. Just like we know the money changers on wall street are thieves.
While healthcare costs go up 6% a year, inflation hasn't been going up 6% a year and taxes haven't been going up 6% a year. I think you get it by now that the US government has a big debt problem. The US government's binge borrowing spree began in 1982 and has gotten worse by the day since then. Which brings us to the Summer of 2015, when the USA has only just begun to fall off a big debt cliff. Woe.
There's more. The Federal government bails out wall street whenever wall street has a big problem. They did it in the 1900's, they did it in the 2008 collapse and the Federal government will pay what wall street owes the next time wall street has a big problem. Which is now. The final slow motion economic collapse of the USA already began in August 2015. So, how much does wall street owe? How much has wall street promised to pay? Wall street has promised to pay more than the US government has promised to pay.
Many people borrow money (called margin loans) to buy stocks. There are $0.5 trillion in margin loans outstanding. Then there's $3.95 trillion in repurchase agreements (repo agreements). A repo agreement is when the seller (e.g. of a stock) agrees to re-buy (e.g. the same stock) at a set price. Plus $21 trillion in credit default swaps. Credit default swaps are a form of derivative. Bankruptcy legislation in 2005 gave "super priority" status to derivatives to be paid first when bank bankruptcies happen. Credit Default Swaps are just one form of derivative. 25 banks in the USA have a total of $236 trillion in derivatives. Globally, there are $630 trillion in outstanding derivatives. About half are in the USA. Derivatives are bets. The only difference between a casino bet and a wall street bet is that casinos have the money to pay casino bets, wall street doesn't have the money to pay derivative bets. So, who's going to pay the approximately $315 trillion in US derivative bets?
Uncle Sam has paid for wall street when the wall street people can't pay their own way. Which makes wall street's debts basically US government debts. Wall street and the US government are intertwined, like fingers of the same glove. Wall street people "donate" billions of dollars to corporate party (e.g. Republican Party and Democratic Party) candidates each decade. There's a revolving door between wall street and the top levels of the US government that has been revolving for decades. Washington is wall street and wall street is Washington.
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