What is the Federal spending deficit?

$ 318 billion

$ 760 billion *

 

$ 2.9 trillion in the late 1990s **

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$ 1 to 3 trillions (includes social security and debts owed to medicare)

$ 8 trillion for the medicare prescription benefit alone (source: from Medicare Trustees)

Goal: "Accurately value these decisions ($3.5 trillion)*** we make" as a polity.

Dennis Cauchon, USA Today, August 2006.

* Audited report as opposed to the Congressional figures.

Called accrual accounting, covers the future debts against the present.

** $6,700 per household is the accumulated debt.

***In December ,2006, the Chinese government announced it held $1 tillion in US bonds or debt. That is due, in part, to the US being one of the largest importing nations in the world.

08/07/2006