But that is a ridiculous thing to really count. I mean you know that you will have a roof to replace in 10 years, do you add that to your debt? Nobody does that. So that unfunded liability thing is really crap.
Ya tell that to GM because it eventually bit them in the @zz. While Ford spun off their Union Health Care to a VEBA and initiated buyout to all that are retiring ( lump sum vs pensions ) with an uptake rate of 30%.
You tell me who's books are better...
Every Corp in America worth it's salt is trying to get rid up long term liabilities.
Same thing with Fedzilla, we are what 200 Trillion in Debt if you use GAAP principles. So are Stockman and former Comp-Controller David Walker crazy for using numbers in the range of 100 Trillion to 200 Trillion +? That is depending on which books you add back that they are not currently adding @ Disney on the Potomac...
Nonsense.
EVENTUALLY you have to pay for the roof.
All those pensions and healthcare , romised by the Feds. States and Cities are rapidly coming due. So are all those bond issues for schools, etc.
But just keep your head buried in the sand.