Tuesday, January 18, 2011

Tossing the Consumer Under the Bus

http://www.financialsensebeta.com/contributors/d-sherman-okst/tossing-the-consumer-under-the-bus
While our public debt is about 14 trillion our unfunded liabilities are much larger.
Unfunded (read: looted) Liabilities
Social Security 14.6 trillion
Prescription Drugs 19.2 trillion
Medicare 76 trillion
Total 109,800,000,000,000.00
109.8 trillion + 18 trillion (18 trillion includes GSE off balance sheet debt) = 127.8 trillion dollars.

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