"Tick, tick, tick goes the time bomb of national doom.
Every second the ticking grows louder, but you won’t hear the muffled sound that’s more akin to white noise.
...Members of Congress from both parties are also deaf to the ticking.
Inherently they know that any attempt to defuse the bomb means they run the risk of being voted out of office.
The doom of which I speak is unfunded liabilities — $122 $156 trillion in payments the government owes and has promised its citizens — without the funds to fulfill those obligations.
According to the Treasury Department, total U.S. unfunded liability includes
- Social Security (along with Medicare Parts A, B, and D),
- federal debt held by the public,
- plus federal employee and veteran benefits.
Here you can watch our time bomb tick in real time with that $122 $156 trillion in unfunded liabilities as one of the major “fuses.”...Read all.
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