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US Government ‘hiding true amount of debt’

Posted By admin On September 20, 2010 @ 3:29 am In Money Watch | Comments Disabled

Gregory Bresiger
NewsCore [1]
Sept 20, 2010

THE actual figure of the US’ national debt is much higher than the official sum of $US13.4 trillion ($14.3 trillion) given by the Congressional Budget Office, according to analysts cited on Sunday by the New York Post.

“The Government is lying about the amount of debt. It is engaging in Enron accounting,” said Laurence Kotlikoff, an economist at Boston University and co-author of The Coming Generational Storm: What You Need to Know about America’s Economic Future.

“The problem is we’re seeing an explosion in spending,” added Andrew Moylan, director of government affairs for the National Taxpayers Union.

In 1980, the debt – the accumulated red ink incurred by the Federal Government – was $US909 billion.

Full article here [1]

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URLs in this post:

[1] NewsCore: http://www.news.com.au/business/breaking-news/us-government-hiding-true-amount-of-debt/story-e6frfkur-1225926567256

[2] Having A Supply Of Healthy Foods That Last Just Makes Sense (AD): http://www.efoodsdirect.com//index.html?aid=14&adid=43

[3] Image: http://www.homegain.com/homevalues

[4] The True Horror of National Debt: http://www.prisonplanet.com/the-true-horror-of-national-debt.html

[5] Geithner unveils his true agenda: Infinite debt means infinite economic enslavement of America: http://www.prisonplanet.com/geithner-unveils-his-true-agenda-infinite-debt-means-infinite-economic-enslavement-of-america.html

[6] Debt, Debt, Debt – 15 Facts About U.S. Government Finances That Are Almost Too Crazy To Believe: http://www.prisonplanet.com/debt-debt-debt-%e2%80%93-15-facts-about-u-s-government-finances-that-are-almost-too-crazy-to-believe.html

[7] For Every $1 Added to the Economy, Obama Added More Than $3 in Debt: http://www.prisonplanet.com/for-every-1-added-to-the-economy-obama-added-more-than-3-in-debt.html

[8] Debt Problem: Who In The World Is Going To Buy The Billions Of Dollars Of Debt The U.S. Government Is Constantly Pumping Out Now?: http://www.prisonplanet.com/debt-problem-who-in-the-world-is-going-to-buy-the-billions-of-dollars-of-debt-the-u-s-government-is-constantly-pumping-out-now.html

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