Tip of the Iceberg (Titanic Debt)

Dennis Cauchon writes in USA Today that the annual budget deficit of $1.5 trillion is a mere pittance compared to the $5.3 trillion in new obligations that the government added in 2010. There is now over $60 trillion in unfunded liabilities for which we all are obligated-- about $1/2 million per household. How many of you are planning to pony up that kind of cash to meet these obligations?

You say you didn't know about this? Government accounting "standards" allow these liabilities not to be booked until they are actually paid for [note to all CFOs out there. Don't try this yourself or the government will send you to jail for fraud].