The FEDERAL DEFICIT : The REAL NUMBER The FEDS Aren’t REPORTING..

Under the accounting rules required of businesses, the national deficit in 2011 was $5 trillion. But under Congress’ “official” accounting rules, the national deficit was $1.3 trillion.

“Liabilities for Social Security, Medicare and other retirement programs rose by $3.7 trillion in 2011,” Cauchon adds, “but the amount was not registered on the government’s books.”

The USA TODAY report says the “fluctuations in the deficit” have not been dependent on whichever party controls the nation’s capital.

• Social Security had the biggest financial slide. The government would need $22.2 trillion today, set aside and earning interest, to cover benefits promised to current workers and retirees beyond what taxes will cover. That’s $9.5 trillion more than was needed in 2004.
• Deficits from 2004 to 2011 would be six times the official total of $5.6 trillion reported.
• Federal debt and retiree commitments equal $561,254 per household. By contrast, an average household owes a combined $116,057 for mortgages, car loans and other debts.

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