In response to:

How Much Do We Owe?

Marvin E. Fox Wrote: Sep 29, 2012 6:32 PM
What we Owe is an excellent article. What we owe the government for squandering and increasing the cost of what we wanted to give should be the next project for the Tea Parties. We owe the government a thorough investigation to uncover the culprits, methods and the best way to stop them from continuing on the same vote buying sprees in our future. We do not need Congress or the Justice Dept. to do this job. We need, and we actually have the resources to do that ourselves. The Greeks have an old saying for situations where Congress investigates itself. The saying is, "Ask my brother the thief, who stole the bread!" Marvin Fox
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...