“If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That’s the fiscal gap,” Kotlikoff said in an interview with National Public Radio. “That’s our true indebtedness.”
According to the US National Debt Clock, the US government has a $16.8 trillion debt, which comes out to be over $53,000 for each US citizen. Looking at those steadily accumulating numbers, it is difficult to see how the US will square the circle of a steadily-aging population together with the harsh reality of the modern economy.