Sunday, February 15, 2009
Dem's Deficit Spending Spree Exceeds World Gross Domestic Product
As "The One" pushes the $800 Billion Dollar Economic Spending Spree through Congress, the American public is largely unaware
that the true deficit of the federal government already is measured
in Trillions of Dollars and in fact it's $65.5 Trillion Dollar in total obligations exceeds the GDP of the world.
The total U.S. obligations, including Social Security, Medicare benefits paid in the future have effectively placed the U.S. in Bankruptcy even before new continuing social welfare obligations embedded in the massive spending spree are taken into account.
The real 2008 federal budget deficit was $5.1 Trillion Dollars and not the $455 Billion as previously reported by the CBO according to the 2008 Financial Report of the U.S. Government as released by the Treasury Department.
Rest here from World Net Daily