Is the United States government fiscally sustainable? It's a good question that begs others.Will projected revenues balance liabilities? How does debt figure in? How much will Social Security and Medicare cost? How much will interest on Treasury bills add up to?

Though the financial statements of corporations are required to report unfunded liabilities, the federal government is exempt from any such requirement. The oft-sung $9 trillion debt does not reflect the unfunded liabilities of social insurance programs - programs that many citizens feel the government is obligated to fund.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access