Federal Deficit and Federal Debt are two different animals
Anyone who says that deficit shrinkage alone is great for the U.S. is not telling the whole story.
Here are the true facts:
Deficit: The amount by which the government’s total budget outlays exceeds its total receipts for a fiscal year. —US Senate Budget Committee
This year, FY 2013, the federal government in its budget estimated that the deficit would be $973 billion. The latest deficit estimate, from the Congressional Budget Office, is $642 billion.
The federal debt increases each year by more than the deficit. For FY 2013 the federal budget estimates that the federal debt will increase by $1,199 billion. That’s $226 billion more than the official “deficit.” See Federal Debt.
Why won’t all politicians tell us the whole story?
that’s great Machine Gun!
Quite, Frankly, until the Government accepts GAAP we really have little idea what the true numbers are.
The debt ranges from the $17 trillion on the debt-clock to $211 trillion, which is the lastest figure from Kotlikof, taking in promised spending on Social programs.
I’m hearing rumors that a significant chunk of the President’s Obamacare slush fund just disappeared into thin air. I guess that is like the $3trillion that disappeared in Afghanistan.
Come the Revolution. Please, pretty please.
The point that I was desperately trying to make is that the govt. (including the executive branch) is not showing the whole movie!
Hohttp://theeconomiccollapseblog.com/archives/5-25-million-for-senate-hair-care-and-21-other-ways-politicians-are-living-the-high-life-at-your-expensew much do you think the Tax-payers pay for Congress-critters to have their hair done?
Off with their heads – an immediate savings. Come the revolution….
The difference must be the interest being compounded into the debt.
Don’t get me . The money that has disappeared in Afghanistan was over a decade not in one chunk.
You know what saddens me CFS, can you imagine a world where the money spent on wars was allocated for world education and healthcare.DT
Ever read Funding The Enemy by Douglas A. Wissing?
CFS, I am not convinced an entire revelution has to happen. I figure just getting rid of the fed might do the trick.
Obviously the entire system has to change if we are survive as a species, I am just talkin about this corrupt perpetual debt the 1% keeps the rest of us working to eliminate held out like a carrot. lol
I want to apologize for my mis-spellings over the last few days. I have periods when my vision is almost zero. I’m back to being able to see (as well as anyone who is blind left-half of each eye.)
The reason a revolution is necessary is that those in control and milking the system for all they can, will never give up power sufficiently to lose their perks.
My children found this one to share with everyone. Have a good weekend! http://www.youtube.com/watch?v=AHIDE8CY1dU
That was one of the funniest videos I have seen in a very long time. Thank you!
Great CJV onto my favourites!!
DT, your right, but changing that is to change our entire system.
bb, we live in a time where honesty is seen as a weakness, and living on government welfare is smarter then people who must work, when can we have a society where people are responsible for bad decisions. DT
You, my friend, are going to love the first two segments of the upcoming weekend show! (Speaking of welfare!)
What does it mean when you have to borrow money to pay existing obligations?
The fact of the matter is the 16th Amendment was “ratified” to enslave the US citizen to the over spending money cartel.
When I was a kid there was a funny clean joke….
“How do you stop an elephant from charging? Answer..Take away his credit card.”
Today I think about what is not funny at all…How do you stop an out of control overspending government from piling on trillions and trillions in debt?////// Answer…..END THE FED!!!!!!!!!!!!!!!!!!!!!!
Hi…Denis……YEP…”END THE FED”…….SO SIMPLE…..BUT “NEVER GOING TO HAPPEN..IMO.
Very nice to hear from you. Mr Irish.
All is well?
YES….Thank you for asking…….I hope you & your family are all healthy. GOD BLESS.
It’s all about the debt, the deficit is for people who don’t understand government accounting, what did PT Barnum say” This way to the egress”, he knew that most people would think they where in a line up for the tiger’s cage. DT