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June 7, 2011
$61.6 TRILLION
Topics: Political News and commentariesThat's the amount the U.S. government currently owes in unfunded mandates. That's a whopping $534,000 per household:
That's more than five times what Americans have borrowed for everything else -- mortgages, car loans and other debt. It reflects the challenge as the number of retirees soars over the next 20 years and seniors try to collect on those spending promises.Meanwhile, our president is off in some corner of the WH looking for more ways to raise the debt ceiling so he can spend ever-more money that we don't have.
Posted by Abdul at June 7, 2011 7:38 PM
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