Thursday, August 03, 2006

Oh, you don’t want to know

From USA Today: “What’s the real federal deficit?

The set the government doesn't talk about is the audited financial statement produced by the government's accountants following standard accounting rules. It reports a more ominous financial picture: a $760 billion deficit for 2005. If Social Security and Medicare were included — as the board that sets accounting rules is considering — the federal deficit would have been $3.5 trillion.
That’s not my problem. That’s a problem between my grandchildren and our Chinese creditors.

No comments: