Can the U.S. Really Afford Those Generous Entitlement Programs?

Viking Pundit reports:

The U.S. government's total liabilities and unfunded commitments for future Social Security and Medicare benefits and other items are estimated at $53 trillion, up from about $20 trillion at the start of this decade, and are rising at a rate of $2 trillion to $3 trillion a year.

This fiscal gap translates into an IOU of about $455,000 for every American household. In other words, our government has made a whole lot of promises that it will be hard-pressed to keep without increasing taxes to levels far beyond what the American people have tolerated historically. By refusing to make tough choices and by charging up the nation's credit card, we are mortgaging the future of our children and grandchildren.

Did you really think Warren Buffett needs free medical care?