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The Debt – Worse Than You Think @dmarron

Yes, even worse than that:

This range of figures – $10 trillion, $14 trillion, $50 trillion – sows confusion about how indebted the United States is. Yet none of them captures all of America’s debts. The government has a host of other obligations that often get overlooked.

These other liabilities appear in the government’s little-known financial statements. Those statements use concepts familiar to anyone who has worked with a corporate balance sheet listing assets and liabilities. The government’s liabilities include more than $7 trillion in obligations that don’t appear in standard budget measures.

If anything, I think he understates it.

Posted in Economics, Politics.

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