Governments in Europe and the United States are facing a huge problem with increasing debt levels due to an aging population and unfunded social programs. This means that future generations will have to pay higher taxes to cover the costs of retirees. The current debt levels do not even include future promises made by governments, making the situation even worse. In the US, the fiscal imbalance is so large that it would require a significant increase in taxes to cover all government spending commitments. The problem is much bigger than the total national debt held by the public.