Yes, remember is correct where you were not. Now, can you explain why an unfunded liability is different from public debt? Why an unfunded liability while serious is less serious than public debt?
And we've been the greatest debtor nation in the world for a while. As well as the nation with the largest GDP and the largest household wealth. We could pay off the debt we owe to other nations easily but why should we? I could pay off my mortgage tomorrow but that doesn't mean that that is the smartest thing I could do with my money.
And with Remember's help he doesn't miss a beat -- he can now continue to shamefully bash Bush and bash America by saying "EVERY SINGLE MAN, WOMAN AND CHILD IN AMERICA NOW HAS will soon have A $166,000.00 total of PUBLIC DEBT and unfunded liabilities". I suppose next he's going to tell us "WE'RE ALL GOING TO DIE!"
The rest of us can be happy being alive (still), having more assets than debt, and laughing all the way to the bank. Maybe that's why our side keeps winning elections-- the other day Dennis Prager was pointing out that if you think of it, it's always the happier presidential candidate that wins..