Do you feel deeper in debt? You are not alone.

According to an article recently published by USA today, federal obligations and debt have soared $6.8 trillion in 2008 to 63.8 trillion. What does this mean to your household? It means it will cost an average of $55,000 per household to cover rising federal commitments made just in the past year!

These key federal obligations are:
-Social Security; which will grow from 1 to 2 million beneficiaries this year alone.
-Medicare; more than 1 million a year will enroll starting in 2011 and..
-Retirement programs for civil service (government workers) which currently stand at 5.3 trillion

I for one think we need to continue to save our own money (whatever you can carve out) to try to stay ahead. By the time we retire, who knows if any of this money will be available?

Please take responsibility for your savings and your financial future…we can no longer afford to keep our head in the sand!

This entry was posted on Monday, July 6th, 2009 at 12:51 am and is filed under General Interests. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.