Uncle Sam's unfunded promises

Pensions2In this article columnist and investment strategist John Mauldin takes a hard look at the unfunded liabilities and debt of the US government. 'Even though the federal unfunded pension liabilities dwarf those of state and local pensions, I want to make it clear that I believe the state and local problems will be far more intractable,' he writes. He explains that all workers pay taxes that supposedly fund the benefits Americans may someday receive. But Federal debt as a percentage of GDP has almost doubled since the turn of the century. To read more, click here.