View Single Post
Old 12-11-2012, 18:12   #25
pugman
Senior Member
 
pugman's Avatar
 
Join Date: May 2003
Location: Wisconsin
Posts: 6,156
""The actual liabilities of the federal government—including Social Security, Medicare, and federal employees' future retirement benefits—already exceed $86.8 trillion, or 550% of GDP. For the year ending Dec. 31, 2011, the annual accrued expense of Medicare and Social Security was $7 trillion"

Depending on who you want to believe...other sources have numbers much worse than yours.

Debt Clock puts unfunded liabilities north of $121 trillion

http://www.usdebtclock.org/

Laurence Kotlikoff, a former Reagan advisor, put the number around $211 Trillion.

http://www.npr.org/2011/08/06/139027...y-211-trillion

The federal government's net worth at the end of 2011 was a negative $70 trillion..or about $220K per citizen or $660K per tax paying citizen...you and your wife have a spare 1.2 million hanging around.

The numbers at this point are meaningless since default seems to be the only solution at this point. Some feel we could print/inflate our way out of it....but I think default will more likely happen or people will just no longer accept dollars for payment having the dollar crash.
__________________
Now when asked when I think things will change I answer "The next time Thomas (aka the fed) robs Peter (aka the 53%) to pay Paul (aka the 47%) and Peter pulls a gun...things will change"

Last edited by pugman; 12-11-2012 at 18:13..
pugman is offline   Reply With Quote