Just wondering. 'Cause I bet 99% of Americans believe what their political leaders tell them too, versus the truth.
Meanwhile, one lonely unnoticed office in the government (thank you David Walker, US Comptroller General) IS reporting the $53 TRILLION number. It's just that not a lot of folks choose to believe it. Or pay attention to it.
If our Presidents or Congressmen were CEO's, they'd be jailed for Sarbanes-Oxley violations. If the budget director was a CFO, he'd be indicted for fraud.
So why do our political leaders and presidential candidates (and our mostly compliant and incompetent MSM) get away with reporting the $9.3 trillion number, when one department in our own government is now reporting $53 TRILLION?
It's because our leaders in DC, unlike our corportations, made it so they don't legally need to report the value of future promised liabilities (social security, medicaid, medicare, military health benefits, etc) on our nation's balance sheet. It's as if they didn't exist. Which is understandable I guess, because indeed, they might not exist. Oh, sorry (non-boomers), you weren't really counting on social security or medicaid being there in your retirement, where you?
Can you imagine if Ford didn't have to report the value of their pension liabilities? Can you imagine if Boeing didn't have to account for the projected healthcare costs of their retirees? Can you imagine if GE put out an announcement today that they weren't going renege on their retirement liabilities?
Well, that's what the Congress, the President and all three major candidates are doing. And almost every single person in the country believes The Big Lie. Baaaaaaa.
David Walker was recently pushed out for speaking out, and I doubt the next Comptroller General will be so honest and vocal. But the truth is now out there.
This issue HP'ers, along with global warming, islamofascism and commodity wars, will dominate the rest of your time here on earth.
Here's some MSM reporting of the issue, that just doesn't seem to want to gain any traction yet. But get ready. The boomers are retiring. And the bill is coming due.
Federal government addicted to debt,' U.S. comptroller says, and the consequences could be dire
Walker: Economic mess awaits unless action is taken
The $53 trillion asteroid