How Much Do You Owe On Your Mortgage?

Because thanks to the people we’ve elected in Washington you happen to owe a tad more than you think

The federal government’s financial condition deteriorated rapidly last year, far beyond the $1.5 trillion in new debt taken on to finance the budget deficit, a USA TODAY analysis shows.

The government added $5.3 trillion in new financial obligations in 2010, largely for retirement programs such as Medicare and Social Security. That brings to a record $61.6 trillion the total of financial promises not paid for.

The $61.6 trillion in unfunded obligations amounts to $527,000 per household. That’s more than five times what Americans have borrowed for everything else — mortgages, car loans and other debt. It reflects the challenge as the number of retirees soars over the next 20 years and seniors try to collect on those spending promises.

We can not continue to make promises like this. Spending needs to be cut. As the saying goes, “Promises were made to be broken.”

Especially when they were made by politicians.

2 Responses to “How Much Do You Owe On Your Mortgage?”

  1. Skyler says:

    I owe $0. 🙂

  2. aelfheld says:

    … got a mortgage on my body, got a lien on my soul …

    Doesn’t work nearly as well when you’re talking about the government.

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