[WOBBLY BOB]

When you factor in the unfunded liabilities for Medicare and Social Security, the national debt is closer to $56 TRILLION.

http://www.pgpf.org/about/nationaldebt/

The Next Six Bailouts?

http://abcnews.go.com/Business/bailouts-/story?id=9456477&page=1

Was the government’s $3.8 billion infusion of cash into GMAC last week a sign of what’s to come in this new year?

Some experts expect to see billions more in bailouts in 2010 — this despite the fact that all nine original recipients of the government’s Troubled Asset Relief Program (TARP) have repaid the tens of billions in loans they received in 2008 and 2009.

Read more at abcnews.go.com ...

The next six :

Fannie Mae and Freddie Mac

Federal Housing Administration

AIG

Citigroup

States

Pension Benefit Guaranty Corporation

Other unfunded bailouts strategically and/or stupidly omitted by ABC Smooze :

FDIC

Medicare, Medicaid and ObamaCare

Social Security

Civil Servant Pensions

Many more banks when ARM’s hit and the commercial R/E bubble pops

Several trillion in short term debt rolloverswithin the next couple of years

A couple of trillion or so to foreign governments who want to cash out of Treasuries

A few trillion in added interest costs when the U.S. loses its AAA rating and/or when interest rates skyrocket

[Toddsterpatriot]

When you factor in the unfunded liabilities for Medicare and Social Security, the national debt is closer to $56 TRILLION.

When you factor in the unfunded assets for Medicare and Social Security, the national debt is back where you started.