Why $16 Trillion Only Hints At The True U.S. Debt (WSJ)

From the WSJ article: “The actual liabilities of the federal government—including Social Security, Medicare, and federal employees’ future retirement benefits—already exceed $86.8 trillion, or 550% of GDP. For the year ending Dec. 31, 2011, the annual accrued expense of Medicare and Social Security was $7 trillion. Nothing like that figure is used in calculating the [...] continue reading the breaking news