Yes, and here is one of many good reasons why:
– Why $16 Trillion Only Hints At The True U.S. Debt (Wall Street Journal, Nov 26, 2012):
“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 deficit. In reality, the reported budget deficit is less than one-fifth of the more accurate figure.”
Prepare for the greatest financial collapse in world history.
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