The US Federal government is now over $19 trillion in debt. That's over $158k per taxpayer.
The US Federal government's unfunded liabilities (things the government promised to give out in the future, think contracts with defense contractors, promised pensions, social security, medicaire, etc.) are over $100 trillion which is over $844k per taxpayer.
Every US taxpayer is now on the hook for over $1 million, just for the debts and future obligations of our government. That doesn't include the yearly expenses of roads, schools, military, etc.
In essence, if you are a US taxpayer, you are $1 million in debt to the US Federal government. As long as you are paying taxes, you will be paying that debt. Plus you are paying for current government programs.
I agree with you on this problem, but looking at future liabilities and backing them to the present is kind of like looking at the sum total in the present of all my school, house and car loans in the future. It is future liabilities without offsetting future income streams. In some cases, this skews the calculation. For example, the rather disgusting practice of funding retirees' social security by current income would imply that it is an "expense," instead of future liability. We don't like it, but that would be standard accounting practice.
Somewhat related - expect the US government to take over large segments of various consumer loan industries, bit by bit, just as they have the mortgage and college loan industries. These are lucrative industries if you can print money...
