MONDAY, MAY 25, 2009
Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars
You've heard some big numbers thrown around.
For example, total U.S. government liabilities are at least $65 trillion dollars.
But the head of the Dallas Federal Reserve bank says:
[There is a] "very big hole" in unfunded pension and health-care liabilities built up by a careless political class over the years.
"We at the Dallas Fed believe the total is over $99 trillion," he said in February.
Over $99 trillion? That's a serious shortfall.
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