Let’s say that I lease an apartment for $1000/month and I intend to continue leasing it for the next 100 years and pay as I go, out of my future earnings. Does it mean that I have $1000 * 12 * 100 = $1.2 million in debt?
the $1000 you pay today is revenue, but the $1000 future obligation is not reported as a liability. That $1000 is not added to the national debt.
$1000 I pay today is reported as revenue, $1000 paid to current retirees is reported as expense. Sounds fair to me.
