$700 Billion could do a lot. Social Security is underfunded. Medicare is underfunded. Private Pension plans are underfunded. Public Pensions are underfunded.
Lets hope that the government won't say they are surprised when the largest population segment - the baby boomers - start to retire and try to access all these services and find out, the money isn't there. We know it now! Lets do something now before we have crisis and how about taxing the baby boomers now before they start sucking out all the money and there are too few other people to put money in.
The past policy has always been that the next generation would pay for the current one. That works with an expanding population but we are currently in a declining population. As when this happened in Europe, we are going to have the same issues here. So all I'm saying is, there is no reason to be surprised.
Combined this ad commentary to the above crisis not include in Obama's plans and we will have our hands full and our pockets emptied.
Please add stats or links with stats as you have them.