5 Common Misconceptions about the US Economy
1. The Debt
While the national debt continues to climb, it is currently around $16 trillion. That’s really just the tip of the iceberg, however. If you were to account for all the unfunded financial obligations the federal government has, including future Social Security and Medicare payments, you would be looking at a real debt of $80+ trillion. Picture ten wooden pallets stacked nearly 6 feet high with hundred dollar bills. That’s only $1 billion! The federal government owes over 80,000 X that much in unfunded liabilities and debt!
