(Vanity) CBO and GAO projected costs of prescription drug so-called "benefit" are staggaring

various ^ | 4-14-05 | babylontoday

[babylontoday]

By GAO (Government Accounting Office) estimates the "prescription drug benefit" program INCREASED BY 26% IN 2004, all historically accumulated, future spending obligations and committments of the U.S., including SS, Medicare, vet benefits, etc., accumulated throughout U.S. history, since before Roosvelt.

http://www.babylontoday.com/#gao_financial

The prescription drug benefit is the 8.1 trillion dollar portion, of the 13 trillion dollar increase, to a total 43 trillion, of current U.S. future spending obligation. But don't worry, according to the GAO, that only represents a $350,000 obligation per full-time worker in the U.S., SO FAR!

But sadly the following demonstrates that the spending will be much greater than that.

http://www.babylontoday.com/#cbo_drug

This according to the GAO Financial Statement 2004 GAAP (Generally Accepted Accounting Practices) "Fiscal Year 2004 Government Financial Statement". Here is a link with a graph of the CBO's own figures (which, if you don't think they do everything they can to be low, you have a screw loose) for the first 10 years of the prescription drug benefit using Excel Trend Projection to project the numbers forward conservatively into the future.

http://www.babylontoday.com/#cbo_drug

Do you really believe that this is the kind of spending we need in light of our exponentially mounting national debt?

http://www.babylontoday.com/#debt_chart

How long before our generous international creditors (kindness of strangers) decide that they are going to have to be paid higher interest rates in order to be convinced that they should risk extending us credit considering the obvious risk of U.S. default? What would this do to adjustable rate mortgages?

The following Treasury link

http://www.publicdebt.treas.gov/opd/opdpdodt.htm

demonstrates that foreigners are presently holding 3 trill 185 bill of the current 7 trill 800 bill of our outstanding debt. Today the U.S. requires 1.5 billion dollars worth of foreign capital every single working day, to finance our enormous deficits. When will foreigners get worn out by the spendthrift habits of our politicians and the increasingly obvious inability of the U.S. to ever pay back the loans? When will they tire of being hosed by holding U.S. dollar denominated assets in a rapidly collapsing dollar?

http://tfc-charts.w2d.com/chart/US/M

Look at the chart of U.S. income compared to debt. It is obvious that we cannot service exponential debt with linear income. What if this applied to YOUR household? I'll tell you what. You would be scrambling to take out home, so-called "equity", loans in the fast lane.

http://www.babylontoday.com/#debt_to_income

[Hi Heels]

Interesting. I'm not use to forums that have responses to threads over 2 months old.

[babylontoday]

How about 4 months then. I consolidated the drug "benefit" page in my site.
The real costs of this program are stunning. It dwarfs total projected debt, and dwarfs total projected M3. Microsoft Excel projected spending in the single year of 2083 is projected to be over 5.6 million billion dollars, or 5.6 thousand trillion if you prefer, in 2004 dollars.
http://www.babylontoday.com/prescription_drug_benefit.htm

[Hi Heels]

Do I hear a year?? Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear Oneyear ..... SOLD!

The only reason I even posted to this thread was to ask the modz to fix the spelling in the title. I find blatant spelling errors annoying. Nothing personal.

I'm certainly glad you have completed your analysis of drug costs, however. Very interesting data.