The True Size of the US National Debt, Including Unfunded Liabilities

Is 222 Trillion Dollars | Zero Hedge.

Writes Brian Dunaway:

John Williams of shadowstats.com has been reporting numbers like this for years. It is, of course, much higher, as estimates of this kind are always low (I don’t mean necessarily intentionally).

But, for the sake of argument, let’s assume the reported number ($222T unfunded liabilities) is close to reality. I like to juxtapose two statistics to illustrate the current economic insanity:

1. The average public unfunded liability is ~$2M per household. This does not include private debt.

2. Only 39% of American households have savings sufficient to cover a $1000 emergency.

It does not take an astounding intellect to see a tiny disconnect in these numbers.

I hear: “We can’t burden our children or grandchildren with this debt!” This is absurd — the speaker doesn’t begin to understand the magnitude of the problem. OF COURSE they will not be burdened with this debt — it is far beyond that. The good news is that there will be a total reset. The bad news is that there will be a total reset.

The Best of Llewellyn H. Rockwell, Jr.