Will Form 5495 Liabilities 2017-2023

Instructions and Help about Will Form 5495 Liabilities

Music myths about the government debt myth number one the government owes 20 trillion dollars how much is 20 trillion dollars suppose you go to Germany and in Germany you go to every town in every town you visit every store and in every store you look at every shelf and grab everything that is for sale the amount of money you spend will not be twenty trillion dollars if you go to Germany and then to France and you go to every town and within every town you go to every store and every store you look at every shelf and you buy everything you still will not have spent twenty trillion dollars you can go to England and while you're there you can go to the North countries and buy everything that's for sale and you still will not have spent twenty trillion dollars in fact to spend twenty trillion dollars you have to go to every country in Europe visit every town in every town go to every store in every store look on every shelf and buy everything and then you will have spent about 20 trillion dollars but the myth is that this is how much money the government owes it turns out that there's more called unfunded obligations unfunded obligations is money the federal government has promised but which it does not and will not have the money to pay largely this consists of promises of retirement and medical benefits if you would take the present value of all the future promises of retirement and medical benefits the government has made and subtract from that the amount of money that's in the government's Social Security and Medicare trust funds and then subtract from that the amount of money the federal government anticipates collecting under...