News for November 27, 2012
Chuck Todd on the Club for Growth: They "actually police" ideological purity
Posted at 10:28 AM by Barney Keller | Topic: *Club in the News
Our Country's Hidden and Very Real Liabilities
Posted at 10:00 AM by Andrew Roth | Topic: *Government SpendingHere's a teaser from an excellent op-ed by Chris Cox and Bill Archer in today's WSJ:
We most often hear about the alarming $15.96 trillion national debt (more than 100% of GDP), and the 2012 budget deficit of $1.1 trillion (6.97% of GDP). As dangerous as those numbers are, they do not begin to tell the story of the federal government's true liabilities.
The actual liabilities of the federal government—including Social Security, Medicare, and federal employees' future retirement benefits—already exceed $86.8 trillion, or 550% of GDP.
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