Tuesday, May 20, 2008

Can We Handle the Truth?

USA TODAY reported recently on the debt of the
federal government. This has been one of my
consistent issues in my comment and maybe even
a post or two.

Over a year ago the Comptroller of the Treasury,
David Walker a Republican, began to try to inform
the US citizens about the staggering debt of the
federal government. I believe he stated then that
the debt was at least $52 Trillion and not the $100
Billion that Congress and the Administration was saying
it was.

USA TODAY writes that the federal debt in $57.3 Trillion.
This amounts to $500,000 per US household. If the state
and local debt is figured in, our total US debt rises to
$66.7 Trillion, which is $531,000 per household. Hello,
out there! Are you liberals and fundies listening? Are
you Democrats and Republicans listening?

Democrats and Republicans alike tell us that the debt for
2007 was $162 Billion, yet the real federal debt for 2007
was $2.5 Trillion. How does Congress and the in-power
Administration bamboozle the US citizen? With funny accounting
standards which the federal government alone uses. Well,
why not, huh? They have their own mailing system, their own
all inclusive health system, their own automobile privileges,
their own retirement programs, and whatever else.

In table form this is what the debt really is and what our
federal government says it is:
2007 2006
Standard business accounting principles: $2,524T $1,154T

Funny government accounting principles : $162B $248B

My point is that Democrats and Republican have bankrupted the
US. We must start looking outside the box, or all we will get
as we have gotten over the last 40 years, tinkering on the
edges with the wealthy becoming wealthier. We have to be
revolutionaries and abandon our traditional Party affiliations.
We have to find common cause with others on the truly important
changes that have to be made to save the Constitution and the USA.

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