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Surprise! Last Year's Deficit Actually $5 Trillion

lovestorun Wrote: May 24, 2012 6:55 PM
America's debt is going to come to a head soon. Everyone in the US is going to be asked to pay extremely high taxes. When I think of Solyndra and all the other bad green energy loans, money donated to foreign countries, money handed over to the UN and the FDR/LBJ/Carter/Obama handouts it makes me want to stop payments to the federal government. Waste by federal employees is huge. GSA and the 9th circuit court having high dollar meetings offsite makes paying taxes a real tough thing to do.

Since 2009, and since Senate Democrats last passed a budget, the Congressional Budget Office has calculated $1 trillion deficits each year with 2012 being no exception. But now, a new USA Today study shows that last year's budget deficit wasn't $1 trillion....it was actually $5 trillion.

The deficit was $5 trillion last year under those rules. The official number was $1.3 trillion. Liabilities for Social Security, Medicare and other retirement programs rose by $3.7 trillion in 2011, according to government actuaries, but the amount was not registered on the...