Real federal deficit dwarfs official tally

Discussion in 'Politics' started by SniperFire, May 24, 2012.

  1. SniperFire
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    SniperFire Senior Member

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    I actually can't believe Lefty rag USAToday.com has this as it's lead story:

    Key findings:
    •Social Security had the biggest financial slide. The government would need $22.2 trillion today, set aside and earning interest, to cover benefits promised to current workers and retirees beyond what taxes will cover. That's $9.5 trillion more than was needed in 2004.

    •Deficits from 2004 to 2011 would be six times the official total of $5.6 trillion reported.

    •Federal debt and retiree commitments equal $561,254 per household. By contrast, an average household owes a combined $116,057 for mortgages, car loans and other debts.

    "By law, the federal government can't tell the truth," says accountant Sheila Weinberg of the Chicago-based Institute for Truth in Accounting.'

    Real federal deficit dwarfs official tally
     
  2. strollingbones
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    strollingbones Diamond Member

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    truth hurts?
     
  3. SniperFire
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    SniperFire Senior Member

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    Drudge Report headline on this story is:

    REAL DEFICIT LAST YEAR: $5 TRILLION


    We are doomed.....
     

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