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Surprise! Last Year's Deficit Actually $5 Trillion

siler Wrote: May 25, 2012 4:42 AM
Historian and President of Washington Grove Institute in WDC, Webster Tarpley, discusses the conspiratorial and shares his intriguing analysis of current geopolitical and historical situations. More and more people are turning toward conspiracies because the "official story" behind such events as 9-11 and the JFK assassination are unbelievable or fantastic, he said. Tarpley doesn't consider himself a conspiracy theorist, but a seeker of truth. America can get out of its economic woes by seizing control of the Federal Reserve, and stop using it to give 0% loans to bankers and financial interests, and instead give these loans with a hundred year maturity to the states, who could then start massive infrastructure rebuilding projects !

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...