Oops! Federal Government’s ’17 Budget Deficit Is 74% Worse Than Reported

So, I bet you haven’t hear this piece of information.  Did you know that a federal law dictates that the White House and Treasury have to account for the “overall financial position” of the government?  Yep.  And it’s not pretty.  Just Facts Daily reports:

The federal government reported a budget deficit of $666 billion for its 2017 fiscal year, but a new comprehensive accounting published by the U.S. Treasury shows that federal finances deteriorated by $1,157 billion in 2017—a figure 74% worse than the deficit.

So, perhaps if your deficit is 666 billion maybe your should — I don’t know — eliminate a billion or so?  Was the fact that is was $666 billion not enough of a red flag for them?  Here’s more:

Data from this report also shows that the federal government has amassed $89.9 trillion in debts, liabilities, and unfunded obligations. This amounts to more than $700,000 for every household in the U.S., or 92% of the nation’s private wealth. This includes the combined value of every American’s assets in real estate, corporate stocks, small businesses, bonds, savings accounts, cash, and personal goods like automobiles and furniture.

This was release more than two weeks ago, and no major media outlet has reported on it.  So, each household owes $704,000, and no one in DC —  neither party — is taking this seriously.  Why?  Because they like it this way.  Money is power.  If they can’t tax and spend us into oblivion, then their power decreases.

Our so-called political leaders are thieves, scoundrels and liars… and worse. 

They’re selling out our children’s and grandchildren’s futures, and the media doesn’t even care enough to report on it.

Hat Tip: Just Facts Daily

Image Credit: Westover