All Commentary
Tuesday, June 7, 2011

Government’s Unfunded Liabilities Rose to Record Level Last Year

“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.” (USA Today)

We owe it to ourselves.

FEE Timely Classic
“The Immorality of Social Security” by John Attarian