Monday, October 04, 2004

The looming national benefit crisis
USA Today feature story - "The long-term economic health of the United States is threatened by $53 trillion in government debts and liabilities that start to come due in four years when baby boomers begin to retire. ... The 'Greatest Generation' and its baby-boom children have promised themselves benefits unprecedented in size and scope. Many leading economists say that even the world's most prosperous economy cannot fulfill these promises without a crushing increase in taxes — and perhaps not even then. Neither President Bush nor John Kerry is addressing the issue in detail as they campaign for the White House. A USA TODAY analysis found that the nation's hidden debt — Americans' obligation today as taxpayers — is more than five times the $9.5 trillion they owe on mortgages, car loans, credit cards and other personaldebt. This hidden debt equals $473,456 per household, dwarfing the $84,454 each household owes in personal debt..."  
  

Political Analysts Expect Little Investment in Mental Health Care
Psychiatric News story - " 'Extreme elements' in Congress coupled with skyrocketing federal deficits may impede progress on legislation that would increase access to mental health services in the United States. The chances are that regardless of who wins the presidential election in November, looming fiscal deficits will prevent federal spending to improve mental health services for Americans, political analysts told attendees at the Opening Plenary of the 2004 conference of the National Alliance for the Mentally Ill in Washington, D.C., last month. "