REAL U.S. Deficit 4x LARGER than reported

[Sam Odom]

Real federal deficit dwarfs official tally


The deficit was $5 trillion last year under those rules. The official number was $1.3 trillion.

The big difference between the official deficit and standard accounting: Congress exempts itself from including the cost of promised retirement benefits. Yet companies, states and local governments must include retirement commitments in financial statements, as required by federal law and private boards that set accounting rules.

http://www.usatoday.com/news/washington/story/2012-05-18/federal-deficit-accounting/55179748/1

[TheMoneyShot]

Always enjoy your posts Sam. I guess the US will just print more money until we run out of ink?

[BIGDAY]

[Sam Odom]

Year 2010 was worse <--- real deficit was 5.6 TRILLION then

10.6 Trillion Dollar Deficit in 2 years

Can you say 'House of Cards'

[MC PICKS]

Real unempoloyment % is around 21% too, another figure obama fudges.

[Sam Odom]

M C P , surely Obama plays a part but largely it is a 'Washington D.C.' thing... playing a game of charade with the American People

[Smoke]

Bush fukked up things so bad in his 8 years we still feel the effect. If Romney gets into office we are fukked. Obama did a great job in 4 years I'm looking forward to 4 more years of Obama.

[Sam Odom]

Obama did a great job in 4 years...

Yep!! spending 10.6 Trillion dollars in just 2 years over and above a budget (I use "budge" loosely because under Obama no budget has ever been passed) is doing great

With people like 'Smoke' the game of charade is safe

[King Mayan]

"Deficits dont matter"

- the real president(2000-08)

[Sam Odom]

Mayan , so it's funny that under Obama the lies continue ??

As I said before... Mayan , you are the least cognizant poster here

[Smoke]

Sammy are we still in a recession?? No

Sammy when bush left were we in a recession?? Yes

Sammy who started the wars?? Sammy how much did those wars cost?? Sammy did Obama get us out of Iraq??

Go ahead and spin it like u always do

[King Mayan]

What?? You care about lies?? But push the gop agenda?? talk about cognizant.

Also, i've never voted for obama, but i know damn well you voted for Cheney(real president)... S

And if you want the US to stop printing money, go tell the rich fukks to pick up their matresses and pass some around

[Emily_Haines]

and we lost every war we started
we have the dumbest people on earth
every dollar wall street earns is actually stolen
we are supposedly free but actually are slaves

[Sam Odom]

Go ahead and spin it like u always do

Talk about spin WTF are you defending ? You think $10.6 Trillion deficit spending over JUST 2yrs is healthy ?

Re-read what I posted...

...largely it is a 'Washington D.C.' thing... playing a game of charade with the American People

[MC PICKS]

Cheney was the greatest vice president ever, look at what we have now.

[big0mar]

Not an issue

Bigger problems we are facing right now

Open your eyes

[Tully Mars 63]

The accounting been done that way for years. Every election cycle the opposition party drags it out and points to the sitting administration and says "see, see!" This is news in the same way it was news when people found out Freddie Mercury was gay.

[Sam Odom]

The accounting been done that way for years.

The Roman Catholic Church have been protecting & transferring their pedophile priests for CENTURIES so why bring it up now ?

Tully , your 'it's always been done that way' 'defense is weak

[Petey Wheatstraw]

Maybe Etch-A-Sketch can fix it.

[Tully Mars 63]

Your priest analogy isn't even weak it's just BS. People have been making a claims of abuse at the hands of priests for years... consistently. It's not something that disappears every four years like the federal accounting system complaints.

But I agree we should stop allowing the Fed to lie about this. Shit at this point my grand kids grand kids are going to be paying for the shit we're allowing. But as I stated this is the way they been doing it for years. Every admin. since I starting voting owns part of this mess. Some more then others-

[Sam Odom]

Your priest analogy isn't even weak it's just BS.

Nah... it just nailed you

anyway , you and your lib buddy's are soooo thin skin. Sam Odom made this thread apolitical - I didnt mention the current president in OP and when I did later on it was in his defense: see post #6

BTW- those charts have been repudiated

[Tully Mars 63]

Oh yes nailed me. An on going issue of sexual abuse that's been subject to constant reporting is just like an accounting issue that's brought up nearly every election cycle are pretty much the same thing. Unless of course you're one of those being/been abused. Then you'd probably be insulted by your ridiculous analogy.

This thread, about how congress manages accounting, is apolitical? Ok.

The chart's been repudiated? By who? And how?

[ACoochy]

Sammy getting fukkin buried in his own thread

[Shaudius]

Most of this article is complete bunk. Honestly, the reason the federal government doesn't run deficits like that because its talking about FUTURE liabilities. As in, benefits that are promised today based on how long people will live. Those are unfunded liabilities, but they are in no way the same as deficits because the way that Social Security works those liabilities will be paid for IN THE FUTURE WHEN THEY BECOME DUE, the budget shortfalls when the Social Security trust fund becomes insolvent will be deficit in the years in which the trust fund + payroll taxes cannot meet amount of benefits promised. Now yes, Social Security is a ponzi scheme in that it relies on future workers to pay for future beneficiaries, but it is a far cry from a deficit. Congress could raise taxes on current workers, raise the retirement age(the most likely scenario as people live longer but which no one has raised in a number of years), cutting benefits, all sorts of things to ensure that future retirees are provided for. Its also interesting to note that once we get past the baby boom Social Security would again be solvent as birth rates have been going up steadily since the lower birth rates after the baby boom.

Incidentally, the reason that the Post Office is going broke is because they aren't allowed to use future earnings to pay for future pension liabilities, instead the Post Office must fully fund the pension plan 99 years into the future.

[Sam Odom]

Sammy getting fukkin buried in his own thread

thread ain't about Sammy

[ACoochy]

thread ain't about Sammy

Sam Odom= Professional Deflector and mongerer of Hate...

[Sam Odom]

ACo , Facts cant hate - grow a pair and deal with it

[ACoochy]

ACo , Facts cant hate - grow a pair and deal with it

Sammy theres enough hatred in the world already.

Last thing we need is a old man passively living his life's regrets through a bunch of political threads (on a gambling website no less) that dont matter...

Suck it up old man, look in the mirror and grow a pair yourself...

[Sam Odom]

Sammy theres enough hatred in the world already.

typical bullshit that you have been brainwashed into... to oppose something vigorously = hate but 'hate' is never the adjective used when liberals/Marxists oppose an issue

if you think the OP = hate then call Eric Holder and claim hate speech on USA Today

[darrell74]

Making a $200 deposit to a Costa Rican online sports gambling site seems way more reasonable than putting it in a 401k

[ACoochy]

typical bullshit that you have been brainwashed into... to oppose something vigorously = hate but 'hate' is never the adjective used when liberals/Marxists oppose an issue

if you think the OP = hate then call Eric Holder and claim hate speech on USA Today

Sam Odom aka Professional Deflector

[Sam Odom]

Sam Odom aka Professional Deflector

I looked over the thread to read what your comments were about $10.6 Trillion deficit over the last 2yrs... there were none

Run along kiddy

[rkelly110]

All the threads Sam has made, I haven't seen him spew hate like some in here.
Myself included.

[King Mayan]

Rkelly, he forgot to take his red pill today.

Old man is hot today... Might die.

[ACoochy]

I looked over the thread to read what your comments were about $10.6 Trillion deficit over the last 2yrs... there were none

Run along kiddy

Sammy ive learnt in life that there are some things you dont waste ur breathe over. That of which u have a statistically insignificant amount of control over is one of them...

As a 'gambler' you should've known better.

Sammy, with your last statement you just confirmed u r recreational gambler

If being passionaitely uninformed about a subject is ur perogative then cool, just go somewhere else and do it.