The Real Federal Deficet Is

I have compiled a list from different sites that state what our actual Federal Deficit is.

I would go on about how there are always two sets of books and how corporations, like our government is,showing only one side of it. It is the same for Cross Country Truckers. They have two sets of book, one to show the cops (the national public) and one to keep accurate reports (although fudged to maximize revenue for the US populace).





The two charts show above show recent and budgeted deficits for the US federal government. On the left is a chart of the deficit in current dollars. On the right is a chart of the deficit as a percent of Gross Domestic Product (GDP). (ex-text will not allow me to post ex-text, as this is not my text)

(link will not allow me to post link, so must copy and past on your own)
www.usgovernmentdebt.us...




The two major peaks of the federal deficit in the 20th century occurred during World War I and World War II. Deficits increased steadily from the 1960s through the early 1990s, and then declined rapidly for the remainder of the 1990s. The federal deficit went over 10 percent of GDP in the aftermath of the financial crisis of 2008.

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The United States government did not always run a deficit. In the 19th century the federal government typically only ran deficits during wartime or during financial crises. The government ran a deficit of 2 percent of GDP at the end of the war of 1812, and through the decade after the Panic of 1837 and culminating in the US - Mexican War of 1846-48. It ran a deficit of over 7 percent of GDP in the Civil War; and ran a deficit in the depressed 1890s.
In the 20th century the US ran a defict during World War I, the Great Depression, World War II, and in almost all years since 1960, during peace and war.

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(See here at : www.usgovernmentdebt.us... )


THE REAL NATIONAL DEBT IS $222 TRILLION (posted on 9th August 2012)

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The fact is that the $222 trillion will not be honored, because it can’t be.

Republicans and Democrats spent last summer battling how best to save $2.1 trillion over the next decade. They are spending this summer battling how best to not save $2.1 trillion over the next decade.

In the course of that year, the U.S. government’s fiscal gap — the true measure of the nation’s indebtedness — rose by $11 trillion.

The fiscal gap is the present value difference between projected future spending and revenue. It captures all government liabilities, whether they are official obligations to service Treasury bonds or unofficial commitments, such as paying for food stamps or buying drones.

(www.theburningplatform.com...)


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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.

( online.wsj.com... )

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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.

( usatoday30.usatoday.com... )

From what I have read, where does our actual budget stand and how will we make up for it?
Do we NEED to be the world power? Is this a grab from over-zealous politicians? Even though some may "fight for equality", are they real as I do not accept numbers from them and no Congressman has presented such facts?!?!

True this nation is running a massive deficit, and the majority of that debt is owed to intragovernment debt which are "sacred cows" that no one wants to touch or will ever even admit is a problem.

The ship is sinking and the captain and crew are saying nothing to see here folks enjoy the ride.

reply to post by neo96


With what the "American Government" is always hiding and inflating the numbers. is it a wonder that we are so fixated on a SHTF scenario?

We discuss deficit and U.S. debt more than we discuss ways to fix it. The people of the United States need to step it up before SADHTF. The people in this country don't realize what's at stake, it's their children's future, it's their nieces and nephews future, it's their grandchild's future, it's their siblings future, it's their friends future, it's their neighbors future.

It's sad growing up seeing your mother struggle, then realize all along she was struggling because the government is taxing her $10,000+ a year, just to waste it on wars, overpaying politicians that don't give a crap, sending billions of dollars to other countries that aren't over here helping the American people.

Originally posted by Catalyst317
reply to post by neo96

 

With what the "American Government" is always hiding and inflating the numbers. is it a wonder that we are so fixated on a SHTF scenario?

Sooner or later this ship is going to sink the closest to that we all saw with the "financial crisis" they are not interested in fixing it.

If a person is "fixated" on a SHTF it's because they see the writing on the wall.

From what I have read, where does our actual budget stand and how will we make up for it?
Do we NEED to be the world power?

...isn't this exactly the problem?
The debt isn't even about maintaining the US status as world power - the US is already in decline DESPITE the ridiculous levels of borrowing. The status quo here can't be maintained. Not with debt, not with spending reductions... the bubble has already burst - it's just collapsing in slow-motion.

The only way forward... is down.

(edit: that was my thousandth post! What a horribly depressing and negative way to rack up a milestone )

Originally posted by Awen24

From what I have read, where does our actual budget stand and how will we make up for it?
Do we NEED to be the world power?

...isn't this exactly the problem?
The debt isn't even about maintaining the US status as world power - the US is already in decline DESPITE the ridiculous levels of borrowing. The status quo here can't be maintained. Not with debt, not with spending reductions... the bubble has already burst - it's just collapsing in slow-motion.

The only way forward... is down.

(edit: that was my thousandth post! What a horribly depressing and negative way to rack up a milestone

)

edit on 26-3-2013 by Awen24 because: (no reason given)

I applaud you sir (or maddam) on you 1,000th post. If you have contributed to ATS as you have in this post, ATS is in a better place because of it!!!

Originally posted by FidelityMusic
We discuss deficit and U.S. debt more than we discuss ways to fix it. The people of the United States need to step it up before SADHTF. The people in this country don't realize what's at stake, it's their children's future, it's their nieces and nephews future, it's their grandchild's future, it's their siblings future, it's their friends future, it's their neighbors future.

It's sad growing up seeing your mother struggle, then realize all along she was struggling because the government is taxing her $10,000+ a year, just to waste it on wars, overpaying politicians that don't give a crap, sending billions of dollars to other countries that aren't over here helping the American people.

Discussing ways to fix it causes someone to lose out. Many of Our nation's businesses are so dependant on federal money that without it the economy would flop. The republicans won't lower the spending much, they want to reproportion it to the private sector where democrats want government employees. Private sector contracts have lots of flaws, low ball to get in then add on later. That is what all the big contractors know they have to do.

It seems like everyone wants cuts in things that do not effect them. Discussing this problem rationally is almost impossible.