What We Will Owe: $66.3 Trillion

As the above chart from the Mercatus Center shows, the financial liabilities incurred by the federal government involve much more than just the current U.S. debt. According to the Mercatus Center, balance sheet liabilities total $14.1 trillion. In addition to that amount, the new present value of the scheduled Medicare and Social Security benefits over the next 75 years is $52.1 trillion. In all, the Mercatus Center estimates federal commitments are a whopping $66.3 trillion – and this is before we take into account the impact of the health care reform bill. For all the details and analysis, click here.

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