[Robert Drobot]

[ClearCase_guy]

Don’t worry. They are working on a plan that will save millions of dollars!

[Jack Hydrazine]

And unfunded liabilities in the not-so-distant future between $130 trillion and $200 trillion!

Our debt is now going on an asymptotic climb and is beyond the point of no return! Enjoy the ride, kiddies! Wheeee!!!!!!!!!

[Toddsterpatriot]

An unfunded liability is different than a debt.

[curiosity]

I've seen numbers like these, but there's a serious flaw in them: Congress doesn't actually have any legal obligation to pay Social Security and Medicare beneficiaries. Congress can reduce entitlement program payouts without harming the USA's credit rating one bit. Hence it is absolutely incorrect to view our entitlement programs as "liabilities" or "obligations." On the other hand, failing to service our actual debt on time would be a real event of default and in fact would hurt the government's credit rating, so it is absolutely correct to count outstanding Treasury securities as liabilities.

This is very different from a corporation. A corporation has a legal obligation to meet its promised pension payouts, which it can only break by declaring bankruptcy. Hence the present value of those payouts is counted as a liability, just like that of any other debt.

[Sawdring]

That chart you posted is misleading because all US debt will be calculated and repaid in Yuan after the collapse.

[Clintonfatigued]

Can anything be done?