Debt problems beyond the deficit

Red States:
Most Americans know that our nation is spending more than it is taking in (the deficit). Though many on the Left do not seem to understand (or care about) the consequences of out of control spending, most Americans do know that the nation has America has over $16.5 trillion in debt–or, nearly $53,000 of debt for every man, woman and child.
While $16.5 trillion of debt is clearly unsustainable, what is even more alarming is what we are not talking about: The fact that, in addition to the $16.5 trillion of debt we currently have,every man, woman, and child in America also is on the hook for nearly $400,000 in unfunded liabilities–or, over $1 million for every household.
... 
My grand kids are going to be in bondage to a debt they did not create and Obama is only making things worse.

Comments

  1. Unknown2:55 PM

    I can understand your sentiments, Merv. I, too, think of what will happen to my grandchildren. Before they are born, they already have debt waiting for them. The best possible solution that I could think of now is to properly manage our financial problems to have stability for the ones next in line.

    Cinthia Mull

    ReplyDelete

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