Monday , 25 September 2023

Projected U.S. Deficit Is A Reporting Scam

Nearly every year, the national debt rises more than the deficit. The picture is guaranteed to get worse.

The increase in national debt is way higher than projected deficits…because the projected deficit does not include all of the amount owed to the Social Security Trust Fund. That amount is called off-budget but when the calendar year rolls over, the difference magically appears on the balance sheet as actual debt.

Actual and Projected Debt

Projected Deficits vs Projected Increases in Debt

That picture is where lie meets reality. Let’s total it up.

Projected Deficits vs Projected Increases in Debt Totals Through 2023

  • The total projected debt increase for 2018-2023 is $6.826 trillion.
  • The total projected deficit increase for 2018-2023 is $5.352 trillion.

Deficit Scam

Excluding Social Security from the deficit is an accounting scam. The cumulative deficit lie for the years 2018-2023 is $1.473 trillion.

Expect Much Worse

The story is even much worse. Those numbers assume no recession through 2023.

Editor’s Note: The above excerpts* from the original article have been edited ([ ]) and abridged (…) for the sake of clarity and brevity. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.

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*The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.