Social Security

#263 - How Large Is the Federal Governments Debt?

Social Security and Medicare have made future promises far in excess of tax revenues that will be collected at current tax rates, and the difference between what has been promised to current and future generations and what will be collected from taxes dedicated to fund these programs is an "unfunded liability."  And according to a study authored by Trustee of Social Security and Medicare and NCPA Senior Fellow Thomas R. Saving, it adds up to $50 trillion in today's dollars.