Proof The Bible Is True

04/23/21

“How much longer can this fiscal madness go on! The country seems to be perched on a precipice just waiting for a tipping point to push us over the edge to disaster.” Admin

A new report found America’s national debt now exceeds $123 trillion. That’s four times the U.S. Treasury Department’s figure of $28 trillion. What does that mean in terms of taxpayer dollars? The $123 trillion figure means close to $800,000 per taxpayer, while the official figure of $28 trillion means around $180,000 per taxpayer.

 

As to why the numbers differ so much, the report states: “Our measure of the government’s financial condition includes reported federal assets and liabilities, as well as promised, but not funded, Social Security and Medicare benefits.” Treasury officials don’t include unfunded benefits because they claim recipients have no right to future payments, only to those under current entitlement laws.

Source: REAL National Debt Hits $123 Trillion, $800,000 per Taxpayer: Study – Investment Watch