Got an extra $700,000 laying around to pay your share of the national debt and unfunded liabilities? No? Well somebody’s got to pay it. From Tyler Durden at zerohedge.com:
Truth In Accounting (TIA), a 501(c)(3) – focused on government financial information, published a new report that suggests the federal government’s overall financial conditions worsened by $4.5 trillion in 2018. The report also calculates the actual national debt on a per taxpayer basis.
With assets of $3.84 trillion, the federal government’s unfunded obligations and debt total $108.94 trillion, which contributed to a $105 trillion debt burden.
“Our elected officials have made repeated financial decisions that have left the federal government with a debt burden of $105 trillion, including unfunded Social Security and Medicare promises. That equates to a $696,000 burden for every federal taxpayer,” TIA states.
TIA rated the federal federal government with an “F” for its financial outlook and worsening fiscal situation that could trigger a crisis in the not too distant future.