U.S. Has $99.2 Trillion In Unfunded Liabilities

By: Lee Rogers - 30 May, 2008 Business / Economics, Commentary / Analysis

The head of the Federal Reserve Bank of Dallas, Richard W. Fisher recently spoke in front of the Commonwealth Club of California. In his speech at the club, Fisher remarked that the unfunded liabilities from Medicare and Social Security adds up to $99.2 trillion.

Assuming Fisher’s figures are accurate, this country cannot possibly pay off the debt and fund these unfunded liabilities from the Medicare and Social Security programs. The official government debt is approaching $10 trillion and combine that with these unfunded liabilities and it is obvious that this country is broke...

There is absolutely no way that the American people can fund these Social Security and Medicare obligations. This country is being sent into receivership by the architects of the New World Order. Over the next several years, the United States will become a third world country unless something is immediately done to drastically cut government spending, end our military empire and the Federal Reserve abolished.

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