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U.S. in DebtAccording to this article, the U.S. federal government lost a third of a trillion dollars last year, which is completely amazing. The article states that taxpayer liabilities are now pegged at more than half a million dollars for every single U.S. household. The article goes on to state that 85% of this debt liability can be accounted for by Medicare, Social Security and federal retirement programs.However, these unfunded promises are only "unfunded" due to the fact that money collected via payroll deductions is not put where it should be, but, rather, is consumed as general revenue. Amazingly, to account for this level of indebtedness, every household would have to pay thirty-one thousand a year... for 75 years. Trillions and trillions in debt, largely in the form of social security, social security disability, and medicare |