Tuesday, June 7, 2011

More unfunded liabilities

U.S. funding for future promises lags by trillions By Dennis Cauchon, USA TODAY  
The federal government's financial condition deteriorated rapidly last year, far beyond the $1.5 trillion in new debt taken on to finance the budget deficit, a USA TODAY analysis shows. The government added $5.3 trillion in new financial obligations in 2010, largely for retirement programs such as Medicare and Social Security. That brings to a record $61.6 trillion the total of financial promises not paid for.
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Comment: Don't worry. It will all get paid - with worthless money.

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