Bill Gross: The U.S. Default, U.S Is "OutGreeking" the Greeks: $75T Unfunded Liabilities

The chart above shows some of the unfunded U.S. liabilities. You have read here before that these will not be paid, not with real dollars that is...

According to a Bloomberg report, Bill Gross says that treasuries have little value within the context of a $75 trillion total debt burden.

“This country appears to have an off- balance-sheet, unrecorded debt burden of close to 500 percent of GDP. We are out-Greeking the Greeks.”
The outcome is inflation, currency devaluation and low-to-negative interest rates relative to consumer-price gains - if the country doesn’t reform its entitlement programs.

Previous Congresses (and Administrations) have relied on the assumption that we can grow our way out of this onerous debt burden.