5 ms·
24.5 Trillion In US National Debt, 144 Trillion In Unfunded Liabilities In 2015
- iwwr 16y agoWhat does unfunded liabilities mean?
- moqzy 16y agoUnfunded liabilities include the "promises" the US gov't has made but doesn't have to pay just yet - social security, medicare, medicaid, etc. Basically, this means if the US gov't shuts down all operations and just pays what it already promised to pay (equivalent to closing a credit card with a balance but still having a balance to pay that you "promised" to pay), it will still end up paying $25 trillion in money already borrowed plus $144 trillion to the benefactors of SS, Medicare, Medicaid, etc until they die.
- iwwr 16y agoWhat percent of the currently unfunded liabilities is estimated to be defaulted on, though, and what is the timeframe involved?