The federal government's long-term financial obligations grew by $2.5 trillion last year, a reflection of the mushrooming cost of Medicare and Social Security benefits as more baby boomers reach retirement.

Taxpayers are on the hook for a record $57.3 trillion in federal liabilities to cover the lifetime benefits of everyone eligible for Medicare, Social Security and other government programs, a USA TODAY analysis found. That's nearly $500,000 per household.

When obligations of state and local governments are added, the total rises to $61.7 trillion, or $531,472 per household. That is more than four times what Americans owe in personal debt such as mortgages.

The consumer fantasy for America is over. We should be thankful for this, because it means that the welfare state is breaking down and taking all the parasites with it. The sooner the system breaks down, the sooner smart and creative people will be able to re-organize locally, and set up and maintain their own communities where people work and contribute. Building a nation's strength on cheap labour, brainwashed lumpenproles, and a debt-based economy is suicide.