President Trump has presided over economic growth, but the debt and long-term obligations of the U.S. government are still massive. If the national debt were officially calculated the way assets for private companies are calculated — by tallying assets, debts, liabilities, and obligations — the official federal debt would be $88.9 trillion, or $704,000 per household.
This represents no less than four times the projected national debt of roughly $20 trillion. The federal government uses accounting practices different from private companies, and so it can report a much smaller national debt than its true liabilities account for.
While the federal government reported a budget deficit of $666 billion for the 2017 fiscal year, a new comprehensive report from the U.S. Treasury showed that finances really deteriorated by $1,157 billion. The document explained that this difference comes from accrued costs that are not necessarily paid, such as estimated future costs of federal employee and veterans' benefits.
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Don't Believe it !!!
ReplyDeleteGovt' takes in Far More of Our $$$$$ than it needs
It can pay off ALL the Trillions tomorrow if it wanted to
An Expert on the News said so, on FOX, ( I saw it )
SO, WHY does the Govt Not do it & quit lieing to us ???
True. 8:12, but why not just claim bankruptcy and clear to out altogether? Enact tea gold standard again and get back on the horse.
ReplyDeleteObama is responsible for the huge debt. He and Michelle. Don't blame this all on President Trump.
ReplyDeleteWhere's our commenter spewing the next coming of the BLUE WAVE?
ReplyDeletehahahahahahahaha They don't want any of this!!!!!
George Bush inherited a positive cash flow ( not that i am a Clinton fan) and squandered it and created the biggest economic messes since the great depression. Obama came into office with a nightmare and spent like there was no tomorrow. We have had 8 years of economic gain, lowest unemployment , low inflation, rising wage growth and Trump and the Republicans do a stimulus in a stimulated, great economy , tax cut for the rich and on top of that agree to even more deficit spending. For sure , watch out because trillion dollar deficits will be back next year. SO much for fiscal restraintRepubvlicans
ReplyDeleteDemon-crats all responsible for all the debt & waist &
ReplyDeletestealing for themselves , all of USA riches !!!
Make ONLY Demon-crats , pay the taxes !!!!
Hillary / OBama / sold us out to the world , while we starve !!!!!!
Make the Rich Pay ALL the taxes ....the rest cannot afford
ReplyDeleteto pay taxes ......we are Tax Poor !!
You guys don’t understand and none of us “little people” are supposed to understand.
ReplyDeleteThe US Debt is sold as Bonds.
Nobody buys them because the government is bankrupt.
So the secretly owned, private, Federal Reserve Bank prints up some US Currency out of thin air and buys the Bonds.
The debt is owed to international banking families who bought it with fiat US Dollars.
The Dollar is protected by the US Military, who works for these Bankers.
The intelligence community is global in scale, and also works for these Bankers.
Get it?
Clintons control everything !!!
ReplyDeleteHow can you be in Debt ??? When you can Print $$$$$ 24 / 7 ?
ReplyDeleteNo Gold needed anymore to back it up / Based on Trust !!!
Why are Taxes needed at All ??? since Govt can Print $$$
ReplyDeleteand no Gold required to back it up anymore ???
Tell me that ! Looks like Govt is GREEDY !!! to me