Detroit Files for Bankruptcy with only 1/10th the unfunded liabilities of the US Government
Just a gentle reminder before we enter the next round of ‘grand bargain’ budgeting. The attached doesn’t include Obamacare
Infographic of the day courtesy of the Heritage Foundation:
The city of Detroit filed for bankruptcy in large part due to the city’s huge unfunded obligations, which totaled $26,655 per capita. That amount, however, is only one-eighth the size of the burden currently facing all Americans. The federal government’s $69 trillion in debt and unfunded obligations works out to $218,169 per capita.