IF YOU’RE IN A HOLE, STOP DIGGING

Jon Blogosphere, Fiscal Policies, Government

I’ve stumbled across a new cool website called Truth in Accounting. It reveals the true level of government debt based on true GAAP accounting methods. It has a detailed analysis of every state in the country. To give you a taste of the truth here is the comparison of the national debt reported by your feckless politician leaders in Washington DC versus the real debt which you, your children and their children are on the hook for:
Reported National Debt – $17.7 trillion
The Truth – $82.1 trillion
Your Share – $259,000
When you examine the pension obligations of our states you realize they will be impossible to honor. If you are a government employee, get prepared for a bleak retirement because you aren’t going to get the pension you were promised. What can’t be paid, won’t be paid. The unfunded liabilities across all levels of government are immense and will never be paid. Only the brain dead and liberals can’t comprehend the facts.
Please bookmark this website and examine the truth.

This post was published at The Burning Platform on 4th September 2014.