May 27, 2009
Meanwhile, China warns Federal Reserve over ‘printing money’. “China has warned a top member of the US Federal Reserve that it is increasingly disturbed by the Fed’s direct purchase of US Treasury bonds.” So am I. Plus, over $99 Trillion in unfunded pension and health-care liability, “built up by a careless political class over the years.”
Now, it's not that the US government is ever going to have to come up with $99 trillion at once.
Everybody would have to retire and get seriously sick at the same time.
But yes, that is 99 trillion dollars worth of unfunded pension and health-care liabilities.
And like all liabilities, it's a burden on the over all budget.