Why $16 Trillion Only Hints at the True U.S. Debt

[Chris]

When it comes to the US debt we hear only about the tip of the iceberg.


As a result, fiscal policy discussions generally focus on current-year budget deficits, the accumulated national debt, and the relationships between these two items and gross domestic product. We most often hear about the alarming $15.96 trillion national debt (more than 100% of GDP), and the 2012 budget deficit of $1.1 trillion (6.97% of GDP). As dangerous as those numbers are, they do not begin to tell the story of the federal government's true liabilities.

The actual liabilities of the federal government—including Social Security, Medicare, and federal employees' future retirement benefits—already exceed $86.8 trillion, or 550% of GDP. For the year ending Dec. 31, 2011, the annual accrued expense of Medicare and Social Security was $7 trillion. Nothing like that figure is used in calculating the deficit. In reality, the reported budget deficit is less than one-fifth of the more accurate figure.

They said the Titanic was too big to fail.


More @ Why $16 Trillion Only Hints at the True U.S. Debt (http://online.wsj.com/article/SB10001424127887323353204578127374039087636.html).

[Carygrant]

Very interesting .
About two years late . I got bored with telling you lot it exceeded $100 trillion and being told I was a Troll ( sub text , more savvy than the red necks) .
Many now estimate the figure to be in excess of $200 trillion -- debt and obligations .
The author seems surprised that the Media have ignored its truthful reporting for so long .
In two years he will probably tell us how Geitner sold off America to the Chinese in 2012 in a series of key meetings with Bejing which were barely mentioned anywhere in the US .
Something all to do with shutting the stable door after -----------------

[Chris]

Cary, if you ever said something like that, people would ignore it because you are a troll.

Here for example all you do is stroke your ego and then invent something with which to attack the messenger and never address the message.

The author is not surprised, he is explaining how the debt is much higher than reported because of the poor way the government keeps its books.

[Cigar]

When it comes to the US debt we hear only about the tip of the iceberg.



They said the Titanic was too big to fail.


More @ Why $16 Trillion Only Hints at the True U.S. Debt (http://online.wsj.com/article/SB10001424127887323353204578127374039087636.html).



So let's Build more Aircraft Carriers $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

[Chris]

So let's Build more Aircraft Carriers[COLOR=#008000] $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$[/C,OLOR]

Let's not, even tho that misses the point of the OP.

[Carygrant]

Cary, if you ever said something like that, people would ignore it because you are a troll.

Here for example all you do is stroke your ego and then invent something with which to attack the messenger and never address the message.

The author is not surprised, he is explaining how the debt is much higher than reported because of the poor way the government keeps its books.

More drivel . Chris has run a special audit showing that the Govt keeps poor records . Yet thousands of professionals were well aware of the ruling position years ago .
You just make it up as you go along . Heard any more echoes ?

[Chris]

More drivel . Chris has run a special audit showing that the Govt keeps poor records . Yet thousands of professionals were well aware of the ruling position years ago .
You just make it up as you go along . Heard any more echoes ?

Yes, echo from the forum troll who still hasn't bothered to read the OP.

[Peter1469]

Not only are the dollars astonishingly high, demographics also work against us. The numbers of workers whose payroll taxes will fund these programs are getting less and less.

[Carygrant]

Yes, echo from the forum troll who still hasn't bothered to read the OP.


I have noticed that you rarely ever reply to points made against you which require consideration .
You employ the "run away" approach and employ name calling except that you try to dress it up in ways which will let it through the system--- you debase the notions of Trolling, have invented new research routes for the echo effect `and have a theory that nobody reads posts in full , save yourself .
Elsewhere you resort to the corny old route of shouting , "don't blame the messenger , discuss the message"
The fact that the messenger in a very recent instance is the oldest Communist propaganda mass media service , run by the Kremlin and administered by the FSB , was totally ignored .
Heal thyself .

[Chris]

I have noticed that you rarely ever reply to points made against you which require consideration .
You employ the "run away" approach and employ name calling except that you try to dress it up in ways which will let it through the system--- you debase the notions of Trolling, have invented new research routes for the echo effect `and have a theory that nobody reads posts in full , save yourself .
Elsewhere you resort to the corny old route of shouting , "don't blame the messenger , discuss the message"
The fact that the messenger in a very recent instance is the oldest Communist propaganda mass media service , run by the Kremlin and administered by the FSB , was totally ignored .
Heal thyself .

What are you babbling about now?


I have noticed that you rarely ever reply to points made against you which require consideration .

Make a point worthy of response.

How about you? I accused you of making things up, no response:


Chris has run a special audit showing that the Govt keeps poor records .

Where'd I do that, cary? I didn't, the article linked in the OP did:


Nothing like that figure is used in calculating the deficit. In reality, the reported budget deficit is less than one-fifth of the more accurate figure.

With much more at the link.

I would think an accusation you're dishonest would be addressed. But then how can you when the proof of your dishonesty is right before everyone's eyes.