By Mike Stathis

We already know about the lies orchestrated by the White House to justify the invasion of Iraq . But there is a bigger secret that has not yet hit the mainstream media. And it probably never will until it's too late. Those of you who read my book already know about it because I discuss it at length. For those of you who haven't had a chance to read America's Financial Apocalypse , I'm going to expose this secret now.

Let's travel back towards the end of President Bush's first term in office. In preparation for his reelection campaign against Democratic Party Nominee Senator John Kerry, Bush instructed his Secretary of Treasury Paul O'Neill to commission an economic study to determine how much the U.S. government owed for the fiscal year 2004. As a part of this study, Dr. Jagadeesh Gokhale (senior economic adviser to the Federal Reserve Bank of Cleveland ) and Dr. Kent Smetters (economics professor at the University of Pennsylvania ) examined Social Security, Medicare, and Medicaid. They concluded that the total present value of the liabilities needed to pay some 80 million baby boomers for Social Security was $22 trillion. When Medicare and Medicaid were added, this obligation totaled $43 trillion. Finally, adding Part D Medicare brought the total to $51 trillion.

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