US and Western Economies Bankrupt According to GAAP (Generally Acceptable Accounting Practice) principals. Yes, USA has unfunded liabilities of around 220 Trillion. (shadowstats). If they don't keep interest rates near ZERO, they can't afford to keep paying interest on the debt. It would be larger than the whole Gross Domestic Product if interest rates went to market set rates. (as opposed to gov't manipulated rates). Governments however use Ponzi accounting.
Increase employment by 10% (and GDP and Taxes), and you are still bankrupt at real positive interest rates. Therefore money must be created to buy bonds which pay the interest on the debt...This is fraud and a ponzi scheme to keep things going - debt escalating. You can never pay the debt or even lower the deficit at this point. Not in current US dollars. Only in GOLD.