How far in debt is the U.S. government? Let’s put the numbers in perspective. This is the economy of Germany. The entire
economic output of this country is about $3 trillion a year. This is the amount of money that the government
has borrowed from the Social Security and Medicare trust funds, about $4 trillion. Here’s China’s economy. Here’s Japan’s economy. Here’s the amount of money the federal government
has borrowed from private citizens and from other countries, about $9 trillion. Here’s our economy. Here is unfunded Social
Security obligations. This is an amount of money that the federal government has promised
to current and future retirees for which it does not have money, and that includes future
expected tax revenues. Here is the European Union. Here’s unfunded Medicare obligations. These
are promises of medical care the federal government has made to current and future retirees which
it cannot cover. Here is the total debt in unfunded obligations.
This is the total amount of money the federal government either has borrowed or has promised
to pay other people. At $65 trillion it outstrips the economic output of the entire planet.