This is a bit of an oldie, but certainly a goodie… albeit, by goodie I mean depressing. David Walker, the comptroller general of the Government Accountability Office, discusses our looming fiscal deficits, which include upward of $60 trillion in unfunded liabilities (what we’d have to have in treasury bills to pay for future entitlement obligations). This piece was filmed just as the financial crisis was beginning, and the situation has gotten much worse. Some new projections put unfunded liabilities at over $100 trillion. Or in other words, over $300,000 for every American! Regardless of whether we get out of this recession, and regardless of whether the massive amount of money being created by the Federal Reserve doesn’t cause massive inflation, the United States will still have to deal with enormous fiscal deficits that could bankrupt the Federal Government. It’s a problem we simply cannot ignore.