What Americans Don’t Know about Their Government’s Debts
Fergus Hodgson, September 7, 2022 
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US national debt, adding up pension and medical liabilities, is around $919,000 per taxpayer. Sheila Weinberg, founder and CEO at Truth in Accounting, explains how many obligations do not appear on federal and local governments’ accounting, in contrast to private-company reporting.
Weinberg perceives more citizens are becoming interested in debt numbers, now that inflation is affecting their pockets. For them, she recommends staying aware and critical of their governments’ fiscal management, since some—such as Illinois—have decided to leave out pensions and other retirement benefits completely from their debt reports.
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Recommended Links
- Follow Sheila on Twitter and LinkedIn.
- Visit the Truth in Accounting website.
- Explore taxpayer burden per state on the Data-Z website.
- “The Clash of Generations,” book by Laurence J. Kotlikoff.
- “The Coming Generational Storm,” book by Laurence J. Kotlikoff.
If You Liked This Episode
- “The Ticking Time Bomb of State Debts,” Gold Newsletter Podcast.
- “What Will Happen to Precious Metals When Stagflation Hits,” Gold Newsletter Podcast.
- “The Pension House of Cards,” Gold Newsletter Podcast.