Unfunded Liability

Social Security and Medicare in crisis as they are underfunded by $175 trillion. Unfunded liabilities are financial promises made with no money held in reserve to support these promises. The bulk of government's total liabilities are unfunded.

Chicagoans have no idea how much pension debt Illinois politicians have placed upon them, a staggering total of $130,000 billion, which leaves each household on the hook for $125,000. People are getting what they voted for, but are not yet aware of the magnitude of the crisis. [...]