John C. Goodman

• If today’s seniors get everything that’s been promised to them, they can expect to receive $12.8 trillion in Social Security and Medicare benefits beyond the estimated taxes and premiums that will be collected to fund those programs.

• If these promises to the elderly are counted as official obligations, federal liabilities would climb to $30.3 trillion — about twice the size of our entire economy.

• If we also include promises being made to all the young people who are currently paying (FICA) payroll taxes, the total climbs to nearly $84 trillion.

Bottom line: we taxpayers owe a great deal. In fact, we owe about five-and-a-half times what the government officially admits.

John C. Goodman

John C. Goodman is President of the Goodman Institute and Senior Fellow at The Independent Institute. His books include the widely acclaimed A Better Choice: Healthcare Solutions for America and the award-winning Priceless: Curing the Healthcare Crisis. The Wall Street Journal and National Journal, among other media, have called him the "Father of Health Savings Accounts.”