•Through August, the federal deficit hit $1.38 trillion, or three times last year's all-time record deficit of $454.8 billion. And in September alone, the administration expects another $200 billion in red ink, bringing the total for the year to $1.58 trillion.
•The U.S. government's official debt is now at an all-time high of $11.8 trillion, or over $100,000 for each and every household in America.
•Both the administration and its opponents agree that, over the next 10 years, the cumulative federal deficit will be another $9 trillion, driving the burden per household up to $177,000.
•The Federal Reserve is also in hock up to its eyeballs, with more than $2 trillion in liabilities on its balance sheet. That brings the total burden up to $194,000 per household.
•Perhaps worst of all, the government's unfunded obligations for Social Security, Medicare, and Federal pension payments are also ballooning higher and now stand at an estimated $104 trillion, or $886,000 per household.
Total burden per household: More than $1 million!
Per Martin Weiss PHD
Money and Markets