In the next 20 years, Social Security will pay out $5.1 trillion more in benefits than it takes in, in the payroll tax. This isn't a sustainable system. Medicare is worse. The liabilities in the federal government, you know, just Medicare, Social Security, our debt and what we owe federal retirees is larger than the private net asset base. In the United States all assets held by small businesses, large businesses and household. This is a problem. (08:38–08:49)
CLAIM
Asserts that federal liabilities exceed the private net asset base in the United States.
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