This report is based on a single source, but provides reasonable documentation to back its points. If the evidence checks out, this would be an important development. I can't recommend this story without further proof, but let's keep an eye on this topic.

As a former ShadowStats subscriber I can say that John Williams bases his work on solid data, although I had to work hard to understand it. This article explains the matter more clearly that Williams tends to, although with a bit of sensationalism. Pretty much single source, with only minor information from the U.S. Treasury.

This is a solid report of a knowledgable analysis of our true national debt. This is the result of Reagan's Social Security "fix" of the 1980's come home to roost. The numbers cited in the source report are consistent with debt and deficit holes that the current administration has deepened beyond any possible gradual turnaround.

Important story. Does it matter if if it is off by a few trillion? This alone can put an end to the American Century. To bad it will most likely be ignored...

Most readers will not know how to interpret these numbers. A good counter to this article is at http://www.prospect.org/deanbaker/ where Dean Baker says: "it tells people that the liability of all levels of government for retirement pension and health benefits is at least $57.8 trillion, or $510,000 per household. "So as to avoid ruining anyone's holiday spirit, income by the same measure is projected to be around $1,000 trillion or more than $10 million per household. This context ... More »