What is the US Debt?

By Dustin, on August 23rd, 2010%

As the yearly budget deficit has grown radically during the recession, so has the total debt that the United States has accumulated in it’s 234+ years of existence.  So how much does the United States owe?  Well… there’s really 2 answers to that.  If you want the numbers, here they are.  The total US . . . → Read More: What is the US Debt?

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Social Security & Medicare Are Gonna be Alright… for now.

By Dustin, on August 10th, 2010%

Last week the Medicare Trustees and the Social Security Trustees released their annual report of their respective trust funds.  The good news is that these programs will remain solvent for a couple of decades or so.  The bad news?  The actuaries still identify certain dates when the trust funds will run out.

To summarize . . . → Read More: Social Security & Medicare Are Gonna be Alright… for now.

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Our “True” Budget Deficit Problem (It can no longer hide)

By Dustin, on July 7th, 2010%

As we know, the government is running huge budget deficits right now. The government has been running a deficit every year for the last several years. Most graphs showing the current deficits are like the one below. For each year they just take the total outlays and subtract total receipts because this is the . . . → Read More: Our “True” Budget Deficit Problem (It can no longer hide)

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Social Security Trust Funds Hide true debt\deficit

By Dustin, on July 6th, 2010%

So I looked into why the “Net Interest” Category of federal spending skyrockets when including only on-budget items. There are only two accounts that are marked as being “off-budget” and both bring in money to the federal government. They are “FOASI, Interest Received by Trust Funds” and “FDI, Interest Received by Trust Funds”. Together, they . . . → Read More: Social Security Trust Funds Hide true debt\deficit

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