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If the US Deficit is 'only' $483 Billion, why does the Government Have to Borrow $1.1 Trillion to Fi
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If the US Deficit is ‘only’ $483 Billion, why does the Government Have to Borrow $1.1 Trillion to Fill the Hole?
Comments
The only true fact worth remembering from this article is the total U.S. debt. 17 trillion and climbing. Who is going to pay this? How are they going to pay it?
and Public Debt
http://wfhummel.cnchost.com/officialdebt.html
Congress has divided government spending into two classes, depending on whether it is accounted for on-budget or off-budget. Most spending, including interest on the debt, is on-budget. Spending on programs with dedicated taxes is considered off-budget, the largest being Social Security. The term unified budget refers to the combined on-budget and off-budget items. The unqualified terms budget deficit or budget surplus refer to the unified budget.
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