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THE REAL DEBT IS STAGGERING
HOW BIG IS AMERICA'S DEBT HOLE?
Today we’re going to look at what America actually owes. If the United States were a business it would be bankrupt 20 times over, but because we can print dollars we’ve been able to dig the world’s biggest financial hole.
ASSETS = +$5.95 Trillion
What the Federal Government Really Owes
Unfunded Medicare promises -$55.12 trillion
Unfunded Social Security promises -$41.20 trillion
Publicly held debt -$21.08 trillion
Pension & retiree health care liabilities -$9.41 trillion
Other liabilities -$2.25 trillion
TOTAL BILLS = -$129.06 trillion
This information has been pulled from Truth in Accounting. The site presents a more realistic picture of the financial trouble the United States is in if we don’t bring spending back under control rapidly. “The estimated deterioration in the true national debt is based upon historical trends.” - TIN
The Fed would like us to believe the debt is only $31,459,270,694,014 (~$240,000 per American) but the reality is much worse.
Future unfunded liabilities and the acceleration of spending suggest the real cost to each American is closer to ~$940,000.
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