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January 2, 2013

$86.8 Trillion ... And Growing


The politicians in Washington may have just finished rustling with the roughly $600 billion "fiscal cliff" ... and the 2013 budget soon to come ... but the far greater fiscal challenge of the U.S. government's unfunded pension and health-care liabilities continue to remain offstage (Obama refused to seriously address any of it). But if the government prepared an accurate one, the truly important figures ... the ones that the Dems continue to ignore ... would appear on the federal balance sheet.

The real number is far greater than the $16.3 trillion you see on the debt clock: The actual liabilities of the federal government -- including Social Security, Medicare, and federal employees' future retirement benefits (payments that the federal government has already promised to make but does not have the revenue streams needed to make those payments) -- already exceed $86.8 trillion, or 550% of GDP.

Posted by Hyscience at January 2, 2013 2:43 PM

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