The U.S. Government is on the hook for over $200 Trillion. We either need 57% more tax receipts or 37% less expenditures going forward to have any chance of surviving this black hole of current and future committed liabilities. The politicians have mortgaged our future, our children’s future, and our grandchildren’s future. The country’s fiscal situation is worse than Detroit many times over.
The Federal Reserve is printing 29 cents of every dollar the government is spending. Not good.
1,000 economists including 15 Nobel Prize winners want the public to know how dire the circumstances are. They are supporting a Congressional Bill to expose this liability. It is called “The Inform Act”. See: www.theinformact.org