Loading ...Submitted by Tyler Durden on 12/02/2014 16:31 -0500
We are well over 100%. The real deficit – taking away all the bookeeping tricks they employ – in 2012 per John Williams was 6.6 trillion, so annual spending exceeds 10 trillion FOR ONE YEAR. Counting all the promised entitlements you get to 70-80 trillion in actual debt.
It’s going to be a crash of Biblical proportions.
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Tue, 12/02/2014 – 17:09 | 5510452Greenskeeper_Carl
ya, we are passed the point of no return, thats for sure. If we were forced to account for liabilities like SS/medicare the way a publically traded company has to account for their current and future retirees pensions, we are well over 100 T in debt. And the real yearly deficit is far larger. depending on who you ask, our unfunded liabilities are between 70- 200 trillion dollars, which it really doesnt matter which figure is correct, we are f-ed either way. and each year, while we may “only” add a little less than a trillion each year to the ‘debt’, we are adding between 4-6 trillion each year onto our true(unfunded liabilities) debt
http://www.zerohedge.com/news/2014-12-02/5-complete-lies-about-americas-new-18-trillion-debt-level