Creative Destruction

“Present value of projected revenues and expenditures for scheduled benefits over the next 75 years of certain benefit programs that are referred to as Social Insurance (e.g. Social Security, Medicare). Not considered liabilities on the balance sheet.“

That’s $65 trillion dollars in net liabilities for the United States government. That’s approximately $200,000 per man, woman, and child in this country. Not $200,000 per household. $200,000 per person. According to this article, total household net worth was $56.5 trillion. So we’re in the red, to the tune of almost ten trillion dollars.