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Thursday, March 27, 2008

$100 Trillion Dollars in Debt!

John Goodman analyzes the latest report of unfunded Social Security and Medicare liabilities and come up with the grand total of $102 Trillion for the "infinite horizon" (after reducing the "trust fund", which is estimated at $2 trillion, but has no actually money available, only promissory notes).

To understand $100 Trillion, imagine something you cannot afford to buy, then imagine buying a number of that product - a number so high you could not count to it in a lifetime.

More analysis on the latest report from the Heritage Foundation on Medicare and on Social Security.

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