Unfunded obligations amount to $534K per household
Did you catch the front page headline in USA Today on June 7?
US owes $62 trillion
I can't get to the actual paper without a subscription. But if you can get to the paper - and can read the last paragraph...
The government has promised pension and health benefits worth more than $700,000 per retired civil servant. The pension fund's key asset: federal IOU's.
Governmental auditors unite! Leita Hart-Fanta, CPA, CGFM, and CGAP is the author of “The Yellow Book Interpreted” and owner of Yellowbook-CPE.com a website devoted to training for governmental auditors. Whether you are an internal auditor or monitor for a government entity or a CPA doing grant audits, you will enjoy Leita’s humorous take on the complexity of auditing in the government environment.