[Zakeet]

What about state and local liabilities? A little over a year ago, with state and local unfunded liabilities included, the real debt was around $266 trillion.

You're right, unfortunately.

Then, there's also the GSE's (Government Sponsored Enterprises - alphabet soup agencies with funny sounding nicknames like Fanny, Freddy, Sally and Vinnie that have handed out government guarantees like candy), and quasi-government agencies that haven't exactly guaranteed things but are nevertheless expected to make good in the event of economic necessity (e.g. FDIC, FSLIC, SIPC, and PBGC). And we have made massive promises to international agencies like the IMF and BIS.

As explained in the above post, we don't have any idea how much we're on tap for ... but we can say for certain that there's absolutely, positively no way we can ever make good on even more than a small portion of the total amount.

[St_Thomas_Aquinas]

These IOUs written to ourselves mean nothing. Collapse is inevitable.

I prefer default to hyper-inflation.

This will mean the end of SS. Families will survive in multi-generational homes. The clan will be the means of survival, and the best defense against the government.