Shocker: Federal government’s fiscal deterioration almost 5 times official deficit « Hot Air: "During the federal government’s 2013 fiscal year, the official federal deficit was $680 billion, but this comprehensive accounting reveals that the federal government’s fiscal position deteriorated by $3.3 trillion or an average of $27,000 for every household in the U.S.
There are two basic ways the federal government calculates its obligations. The first does not account for the obligations of Social Security, Medicare, and other programs in the same way the federal government requires of private corporations.
The method the Treasury report uses is far more complete. It includes long-term obligations and liabilites unaccounted for in the deficit and debt measurements."
Luckily this won't be reported by MSLSDCBSABCNYET. Otherwise we would have a problem.
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