As the article says, it looks dismal for the U.S. financial condition.
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.
The $61.6 trillion in unfunded obligations amounts to $534,000 per household. That's more than five times what Americans have borrowed for everything else —
See it here; http://abcnews.go.com/Politics/us-funding-future-promises-lags-trillions/story?id=13778497
And currently congress can't even agree on how to cut a few billion dollars...how do you think they are going to close the gap on $534,000 per household? The numbers are simply staggering....and unsustainable.
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