Economics 101: Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending

Executive Summary: Huge budget deficits and record levels of national debt are getting a lot of attention, but this video explains that unfunded liabilities for entitlement programs are America’s real red-ink challenge. More important, this CF&P mini-documentary reveals that deficits and debt are symptoms of the real problem of an excessive burden of government spending.