Economics: America's $45.8 Trillion Deficit

The much reported Federal deficit for the next few years is tiny when compared to the real deficit.

While the United States’ net position is certainly daunting at -80.5 percent of GDP, this position does not capture the nation’s full exposure. Exposures for future Medicare and Social Security expenditures are not taken into account in the nation’s net position. Over the next 75 years, U.S. social insurance accounts are projected to run large deficits; the net present value of these deficits is $45.8 trillion [Emphasis mine].

From America's Precarious Net Position by Veronique De Rugy, April 1, 2010.

The data is from The Federal Government’s Financial Health A Citizen’s Guide to the Financial Report of the United States Government by U.S. Treasury at gao.gov.