CovenantNews.com

U.S. Has $99.2 Trillion In Unfunded Liabilities

Lee Rogers / RogueGovernment.com:
The head of the Federal Reserve Bank of Dallas, Richard W. Fisher recently spoke in front of the Commonwealth Club of California. In his speech at the club, Fisher remarked that the unfunded liabilities from Medicare and Social Security adds up to $99.2 trillion. Assuming Fisher's figures are accurate, this country cannot possibly pay off the debt and fund these unfunded liabilities from the Medicare and Social Security programs. The official government debt is approaching $10 trillion and combine that with these unfunded liabilities and it is obvious that this country is broke.

Posted by Editor at May 31, 2008 12:02 PM