Our $100 Trillion National Debt
by Bill Walker
by Bill Walker
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The "official" debt of the United States is only around $10 trillion
dollars as of August 6, 2008. This is a manageable number; we could
pay it off in a few decades if we quit buying luxuries like food and
clothing, and take a few other minor economy measures. Unfortunately,
the "$10 trillion" number was produced by government accounting, which
among other things allows one to ignore Social Security, Medicare, and
the new prescription drug benefit. This is like ignoring rent, food,
and utilities in your household budget… it will lead to a few bounced
checks. Our real debt is about ten times higher.
