What We Owe: $239 Trillion

by | Feb 19, 2019 | Larry Kotlikoff, Media

That’s the present value of all US government spending promises minus expected revenues – projected indefinitely into the future – and calculated in 2019 dollars. The largest components of the total are Social Security, Medicare and Medicaid. In each case, beneficiaries are “entitled” to benefits that greatly exceed the revenues that will pay for them, given current tax rates.

Read More