MONEY: Just how much debt are we in?

US Government ‘hiding true amount of debt’

* By Gregory Bresiger

* From: NewsCore

* September 20, 2010 9:09AM

*** begin quote ***

THE actual figure of the US’ national debt is much higher than the official sum of $US13.4 trillion ($14.3 trillion) given by the Congressional Budget Office, according to analysts cited on Sunday by the New York Post.

“The Government is lying about the amount of debt. It is engaging in Enron accounting,” said Laurence Kotlikoff, an economist at Boston University and co-author of The Coming Generational Storm: What You Need to Know about America’s Economic Future.

*** end quote ***

The various authors and economists quibble about what it is exactly. But whether it is the lowest at 60T$ or the highest at 200T$, does that really make a big difference?

We need “honest counts” so we know how big a hole we are in!

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