America Will Soon Owe More Than Its Citizens Are Worth
December 20, 2008 by Suzanne
Filed under FairTax News
The sum of America’s liabilities and other financial commitments now exceeds the collective net worth of its citizens, the Peter G. Peterson Foundation has calculated using the latest official data. Growth in the government’s unfunded promises for social insurance programs such as Medicare, combined with a drop in Americans’ net worth due in part by lower home equity values, is causing this unprecedented milestone.
Read the entire article from the Peter G. Peterson Foundation





