Quote from mutluit:
An analysis by Forbes:
"
FACT: The U.S. government is bankrupt! Yes, bankrupt. Skeptical? Ok, Iâll provide some facts and you decide.
The government has an âofficialâ debt of $15.8 trillion and mounting. But wait, thereâs more. This doesnât include the liability from Social Security and Medicare. When you factor these in, the amount according to some, exceeds $120 trillion. With U.S. Federal tax revenue of just over $2.3 trillion, that puts our debt-to-income ratio somewhere around 5,082%. Now let me ask you. If you, as an individual, entered your local bank and asked for a loan with a similar debt-to-income ratio, what do you think the loan officer would say? Would they give you the loan?
"
http://www.forbes.com/sites/mikepatton/2012/07/23/is-america-bankrupt/
Gee wiz! I gotta save $3,000,000 for retirement. That effectively puts my debt to income ratio at 60 to 1, or 6000%. Am I bankrupt???
Come on guys! Use your brains!!