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The Bankrupting of America. "According to Laurence J. Kotlikoff of Boston University, the present value of the gap between promised [Social Security & Medicare] outlays and projected revenue is $51 trillion -- more than four times the nation's annual GDP. Today the household wealth of Americans -- the value of their houses, 401(k)s, cars, refrigerators, toasters, socks, everything -- is about $42 trillion .. ". more GEORGE WILL.