Monday, March 31, 2014

big numbers - big worries

As I write this post, I have the US National Debt clock pulled up on my computer. It gives the US Debt as being $17,549,947,200,197. Wow! The numbers are changing so fast it's hard to pin down just the one to use but that's at least semi close. The government currently has to borrow approximately 41 cents of every dollar it spends and at a spending rate of $4 billion per day (according to an estimate from the summer of 2012) that's a lot of borrowed money.
It is easy to become rather irate at the things on which our government spends our tax dollars. More frustrating is the fact that the money is even used to regulate us out of many of our freedoms. If the US national debt frustrates you, hold on to your feathers because the US's unfunded liabilities will blow you away.
You may be uncertain about just what exactly unfunded liabilities encompass. They've been defined as: "The amount, at any given time, by which future payment obligations exceed the present value of funds available to pay them. For example, a pension plan's payment obligations, including all income, death and termination benefits owed, are compared to the plan's present investment experience, and if the total plan obligations exceed the projected plan assets at any point in time, the plan has an unfunded liability." Basically, if we consider underfunded medicare obligations, underfunded social security obligations, unfunded military and civil servant pension obligations we've at least scratched the surface. I guess I'm still scratching my head as to why people are worried about the US debt when we have racked our unfunded liabilties up to  $128,498,276,263,995. Our debt has an impact on us as individuals and so do unfunded liabilties. To put it bluntly - when a baby is born into an American home they are already over 1 million dollars in debt to the federal government. Pretty disgustig isn't it.
I don't claim to be a news anchor or the information station to rile you up. Thus, I hope I've sparked some interest in your mind to make you go search through the figures and learn for yourself more about America's largest financial figure - unfunded liabilities - and then try to sleep well tonight.

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