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Thursday, May 25, 2006

Taxpayers face "monster" debt to fund boomer retirement

"Taxpayers owe more than a half-million dollars per household for financial promises made by government, mostly to cover the cost of retirement benefits for baby boomers, a USA TODAY analysis shows.

Federal, state and local governments have added nearly $10 trillion to taxpayer liabilities in the past two years, bringing the total of government's unfunded obligations to an unprecedented $57.8 trillion."

"Retiree Benefits Grow Into 'Monster'"
USA Today

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