The U.S. government's books are in the red by more than $86.8trillion, according to an influential University of California San Diego economist.
That's a number more than five times as large as the figure acknowledged by the U.S. Treasury and used by government agencies to justify their budgets and spending.
Officially, the debt stands at $16.7trillion, including nearly $12million in debt held by the public in the form of Treasury Bonds, wrote James Hamilton in a working paper for the National Bureau of Economic Research.
But that number doesn't include several 'off-balance sheet' obligations including $54.1trillion in missing funding for Medicare and Social Security, along with support for federal housing, loan guarantees, savings deposit insurance and the cost of actions taken by the Federal Reserve.
'The biggest items in this category come from Social Security and Medicare which, if current policy is maintained, will require enormous sacrifices from future taxpayers,' Hamilton wrote.
this is just anought 1 of the presidents phoney things
Yes on purpose we can lose our country by either by war or economics
They will nationalize all retirement and pension funds. Soon.
Wait until about 2025 when the unfunded obligations will hit about 180 Trillion. This is nothing phoney, our country will be so broke, my granddaughters will grow up in poverty. NATIONAL SUICIDE, if unchecked.
TO HELP U OUT OF DEBT.
1. MAKE OBAMA PAY BACK ALL THE TAXOAYERS MONEY AND HIS FAMILY SPENTOPN VACATIONS.
2 MAKE MICHEELE PAY BACK THE MONEY SHE SPENT ON CLOTHES THAT SHE DID NOT NEED
AND LOOK LIKE HECK IN THEM.
3. 20% CUT IN CONGRESS PAY NO RAISE UNLESS VOTED ON BY THERE STATE VOTERS.
4. 30 % CUT IN OBAMAS PAY AND 20% FOR ALL HIS CARZS AND APOINTEES.
They have to be arrested and charged. Obama has to be charged and prosecuted for perjury, as he has usurped and is a squatter in the WH. Everything he has done or sighed will become NULL and VOID. and it will cost him big time.
Nationalize Obamas income ..send it directly to the IRS with no get out of jail card ..
NEVER HAPPEN.......................... BUT GOOD THOUGHTS
I watched a very disturbing video today that quite frankly is still bothering as i type. The whole gist of this video was basically about 2016 and that we best prepare because because everything that is happening right now with the ovomit administration is planned to insure that ovomit becomes king and hillary for the sake of argument will be vice queen or vice president,what will drive all this is the death of the republican party and any and all directives from the traitor will be law because there will not be the usual form of government,the way it was meant to be. If i can find the video and source i will post it here,i was and still am so angry i deleted it.
This has been in the wind since O became "president" and now they are going to repeal the 2 term law limiting presidentially held terms of office. The democrats see it as a win. O sees it as his right to get rid of the constitution and enact Sharia Law in this country. When that happens, Christians will be targeted along with homosexuals and Mormons. We will no longer be a Christian country or a free people. Too bad the idiot socialists think that they are winning with this move. Actually they will be next on the chopping block.
I always suspected that the numbers that our government was telling us was wrong. Specially after the Clinton administration and their creative accounting practices. Anyone that knows anything about accounting knows you can not account on monies you do not have and can not count on in the future. The future is uncertain. Washington needs to learn that the numbers do not lie no matter how you manipulate them.