The US Is Bankrupt And We Don't Even Know It
Please read this Bloomberg article; key graf:
...Based on the CBO’s data, I calculate a fiscal gap of $202 trillion, which is more than 15 times the official debt. This gargantuan discrepancy between our “official” debt and our actual net indebtedness isn’t surprising. It reflects what economists call the labeling problem. Congress has been very careful over the years to label most of its liabilities “unofficial” to keep them off the books and far in the future...
Once you have recovered your composure, read Denninger's take for more explanation and greater understanding.
Anyone see the skittles-crapping unicorns yet?
We're gonna need a flock of them.