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USA Today: Real deficit dwarfs official tally of $1.3 trillion, instead is actually $5 TRILLION DOLLARS.

The typical American household would have paid nearly all of its income in taxes last year to balance the budget if the government used standard accounting rules to compute the deficit, a USA TODAY analysis finds.

By Jewel Samad, AFP/Getty Images

Congress exempts itself from including the cost of promised retirement benefits.

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EnlargeBy Jewel Samad, AFP/Getty Images

Congress exempts itself from including the cost of promised retirement benefits.


Sponsored LinksUnder those accounting practices, the government ran red ink last year equal to $42,054 per household — nearly four times the official number reported under unique rules set by Congress.

A U.S. household's median income is $49,445, the Census reports.

The big difference between the official d

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Added: May-24-2012 Occurred On: May-24-2012
By: yorba
In:
Politics
Tags: government spending, deficits, obama debt, lies, fiscal calamity
Location: Washington, District of Columbia, United States (load item map)
Views: 1236 | Comments: 12 | Votes: 4 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
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  • Obama is a MISERABLE FAILURE OF EPIC PROPORTIONS.

    Posted May-24-2012 By 

    (10) | Report

    • Comment of user 'Uac_mitun_ahau' has been deleted by author (after account deletion)!
  • This is just a History lesson, to all regardless of party . I bet I know who wouldn't read it -- those afraid of the truth. It is history and nothing can change it.
    The day the Democrats took over was not January 22nd 2009, it was actually January 3rd 2007, the day the Democrats took over the House of Representatives and the Senate, at the very start of the 110th Congress.
    The Democratic Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995.
    More..

    Posted May-24-2012 By 

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  • LOL. Great accompanying photograph yorba.

    Posted May-24-2012 By 

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  • Comment of user 'LimitedTime' has been deleted by author (after account deletion)!
  • What amazes me is that liberals resist including pensions in the deficit numbers because, according to their argument, these entitlements can be cut and are not legal obligations. Actually try and revise those entitlement benefits, not cutting them but merely making the programs fiscally sustainable? The same liberals scream bloody murder, declare Social Security and Medicare sacrosanct, and film an advertisement of someone pushing grandma off of a cliff.

    $5 trillion...it boggles the mind. E More..

    Posted May-24-2012 By 

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  • There's lies, damn lies and government statistics.

    Posted May-24-2012 By 

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  • Can the country afford having Obwama for 4 more years? I don't think so!

    Posted May-24-2012 By 

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  • Comment of user 'CatJuggler' has been deleted by author (after account deletion)!