Author Topic: Shocker: Federal government's fiscal deterioration almost 5 times offical deficit  (Read 306 times)

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Offline rangerrebew

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« Last Edit: March 06, 2014, 07:40:01 AM by rangerrebew »
"Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports. In vain would that man claim tribute to patriotism who should labor to subvert these great pillars of human happiness -- these firmest props of the duties of men and citizens. . . . reason and experience both forbid us to expect that national morality can prevail in exclusion of religious principles."
George Washington

"Only a virtuous people are capable of freedom. As nations become more corrupt and vicious, they have more need of masters."
Benjamin Franklin

Offline Chieftain

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link please?

Offline rangerrebew

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link please?

Its there.  You must have read the article while I was retrieving the link. :shrug:
"Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports. In vain would that man claim tribute to patriotism who should labor to subvert these great pillars of human happiness -- these firmest props of the duties of men and citizens. . . . reason and experience both forbid us to expect that national morality can prevail in exclusion of religious principles."
George Washington

"Only a virtuous people are capable of freedom. As nations become more corrupt and vicious, they have more need of masters."
Benjamin Franklin

Offline katzenjammer

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Yup.  Various attempts have been made over the years to bring out the fact that the way FedGov does its accounting hides a lot of the facts.  It is really the lack of accounting for the accruals of the unfunded liabilities that distorts each year's reporting.  If they are taken into account, we've been running $3.n Trillion deficits for quite some time.  But of course they don't report that, and most people are led to believe that we are actually in a mode of reducing the annual deficit lately.  (A certain someone seems to crow about that quite often in his numerous campaign stops!!  lol)

This report puts some numbers behind the more qualitative article by Greenfield that was posted here yesterday.  The death spiral is real and is coming to a head, whether or not we chose to accept that fact or continue to ignore it.  It just comes down to how long they can keep the top spinning, but it ain't going to be forever...


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