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How Much Do We Owe?

Charles SWVA Wrote: Sep 29, 2012 10:45 AM
Algore said the money is in a lockbox and I believe him. Why don't you, are you a Repuglican?
Have you ever wondered how much we as taxpayers actually owe because of commitments politicians have made on our behalf? Turns out, the answer is not as simple as you might think.

The place to start is with a report put out annually by the U.S. Treasury. There I learned that the federal government officially recognizes an outstanding debt of $17.5 trillion. This amount consists of $10.2 trillion in government debt held by the public, plus pension and retirement benefits owed to federal employees.

On the one hand, that amount exceeds our country’s entire gross domestic...