The government added $5.3 trillion in new financial obligations in 2010, largely for retirement programs such as Medicare and Social Security. That brings to a record $61.6 trillion the total of financial promises not paid for.
This gap between spending commitments and revenue last year equals more than one-third of the nation's gross domestic product.
Related Topics: budget
Source: http://www.realclearpolitics.com/2011/06/07/government039s_mountain_of_debt_256859.html
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