Published on Public Agenda (http://www.publicagenda.com)


Long-Term Federal Obligations Grow by $2.5 Trillion

Long-Term Federal Obligations Grow by $2.5 Trillion

USA Today reports that the federal government's long-term fiscal obligations -- mostly the cost of paying Medicare and Social Security for the baby boomers -- grew $2.5 trillion last year, for a total of more than $57 trillion. That's $500,000 per household.

In research conducted as part of the Facing Up to the Nation's Finances initiative, Public Agenda has found that few Americans know much about the nation's fiscal problems. But they don't need much information to grasp the problem, and they're willing to consider tough choices to solve it -- but only if they're convinced the government will spend their money wisely.

To find out more about the federal budget, visit Facing Up, or consider the new book by Public Agenda's Andrew Yarrow, Forgive Us Our Debts: The Intergenerational Dangers of Fiscal Irresponsibility. Another option is Where Does the Money Go? Your Guided Tour to the Federal Budget Crisis," by Public Agenda's Scott Bittle and Jean Johnson. And if you want to take a crack at figuring out this yourself, you may want to look at Budget Hero, the new online game from American Public Media.


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