As of Sep. 30, federal financial statements showed approximately $56.4
trillion in debts, liabilities, and unfunded promises for Medicare and
Social Security, the Peter G. Peterson Foundation www.pgpf.org
reported. The Federal Reserve estimated total household net worth at
that time at $56.5 trillion.

Since then the stock market has crashed, tens of billions of dollars
of personal wealth have evaporated, and the government has committed
$700 million to bail out financial institutions.

A government which long has been morally and intellectually bankrupt
is now financially bankrupt too.

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