$130 Trillion - What We Owe
[click to see the cover of the current NR magazine] About that $14 trillion national debt: Get ready to tack some more zeros onto it. Taken alone, the amount of debt issued by the federal government - that $14 trillion figure that shows up on the national ledger - is a terrifying, awesome, hellacious number. Big number, 14 trillion, and yet it doesn’t even begin to cover the real indebtedness of American governments at the federal, state and local levels because governments don’t count up their liabilities the same way businesses do. The states have been running a mad-scientist experiment in their pension funds, making huge promises but skipping the part where they sock away the money to pay for them.
(Excerpt) Read more at nrd.nationalreview.com
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