The government debt in the United States and European Union has been increasing, especially since the financial crisis in 2007. The U.S. government's debt is now at its highest level in history, except for during World War II. The debt includes not only bonds but also unfunded obligations like Social Security and Medicare. Experts believe that the current debt levels are unsustainable and reforms are needed. The European Union is facing similar issues, but poorer countries have managed to avoid major debt problems. The authorities in charge of fiscal policy have been reluctant to make necessary changes to address the growing debt issue.