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The true national debt
Washington Post, by Robert J. Samuelson

Original Article

Posted By:StormCnter, 2/25/2013 12:27:24 PM

How big is the national debt? You’d think this would be an easy question. Surely we know how much the government owes. Unfortunately, it’s not that simple. The true national debt could be triple the conventional estimate, anywhere from $11 trillion to $31 trillion by my reckoning. The differences mostly reflect explicit and implicit “off-budget” federal loan guarantees. In another economic downturn, these could result in large losses that would be brought “on budget” and worsen already huge deficits. That’s the danger. My purpose is not to scare or sensationalize. It’s simply to illuminate the problem.

      


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Reply 1 - Posted by: WAN2, 2/25/2013 12:50:46 PM     (No. 9195199)

The national debt? A problem? Who knew? Or cares?
I´ve got my Obamaphone! Go suck a wrench.

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Reply 2 - Posted by: Rob_NC, 2/25/2013 1:04:43 PM     (No. 9195234)

...oh pleeeease..we still got paper and ink...no problem here....Joe go make them to print faster......!

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Reply 3 - Posted by: curious1, 2/25/2013 1:14:07 PM     (No. 9195250)

Following GAAP, 18 months ago the total debt was 202 Trillion and climbing.

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