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Taxpayers on the Hook for $59 Trillion »

Posted by: charbarred 2 years, 6 months ago

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The federal government recorded a $1.3 trillion loss last year, far more than the official $248 billion deficit when corporate-style accounting standards are used.

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charbarred

I'm the editor and writer of The Plugg (www.thplugg.com) and also a member of the band Shrugged (www.myspace.com/shrugged).
I ...

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Comments: 9

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pagey
May 29, 2007, 12:59 p.m.
I just don't get how there can be that kind of a loss(a trillion dollars)and the country can continue to function. Is there some magic number that causes the economy to collapse?
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vor
May 29, 2007, 3:48 p.m.
"We're on an unsustainable path and doing a great disservice to future generations," -a Republican view
Looks like Iraq is costing a lot more than lives...I don't know what the future of this country holds for my grandkids not something I discuss with them often.
It is no wonder you don't hear the Bushites touting the phony deficit number when the reality is this bad. Americans should really be questioning the logic of continued revenue cuts. The deficit is merely a number to add to the debt. So 1 Billion is not an unreasonable figure when all of these off budget items fall into place.
Someday we will be a society of those with abundant bounty and those with literally nothing. That is the future for which the neo-cons wish us to aspire.
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ADAGUY
May 29, 2007, 6:51 p.m.
Since you asked, is it not a fact that Social Security was in a separate fund, and much more difficult to tamper with until Ronald Reagan decided it would make his deficit "look smaller" if it were put into the general fund. Since then, it has disappeared much faster!
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Truzseeker
June 21, 2007, 6:07 p.m.
Guess everyone will need to work faster to convict evaders, and then self destruct when the debt can no longer be paid no matter how much is taken from you.