Executing on Mary Meeker’s Vision for America: USA Inc. — from readwrite.com by Michael Tchong
In true Meeker style, USA Inc. is a meticulously crafted, chart-heavy presentation. This one, though, paints a bleak picture. Most startling: America’s entitlement costs accounted for 56% of spending in fiscal 2011, 40 years ago it was just 25%. Here is more food for thought:
- Expenses have exceeded revenue in all but five of the past 47 years.
- 1 in 50 Americans needed Medicaid when it was created in 1965. Today, 1 in 6 do.
- Unfunded and underfunded entitlement liabilities now total $66 trillion.