Tuesday, October 29, 2013

How does it feel to be 1.1 millions in debt

and it's not even your debt.  It is the debt the government has run up, and somehow it expects us taxpayers to pay it.

Each U.S. taxpayer now has a federal-debt liability of $1.1 million, and rising.

Remember that when President Obama boasts that the federal deficit—the shortfall between annual revenues and spending—is declining. Of course, the primary reason for the decline is the sequester, which was his idea but now adamantly opposes.

The public tends to focus on the total national debt, which just passed the $17 trillion mark—up from $10.6 trillion when President Obama took office. But that figure pales in comparison to the federal government’s long term unfunded liabilities—money the government is obligated to pay over and above the revenues it is estimated to receive.

According to the U.S. Debt Clock, total long term unfunded liabilities are at $126 trillion, a $1.1 million liability for each U.S. taxpayer.


Point this out to any Leftists you might run into.

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