The Real National Debt

Note: This was originally posted in September of 2010. However, leglators and Media of all flavors still refer to the National Debe as $14 T when in fact it is really $65 T. We can't solve a problem if we don't recogize it. Also, when you look at this you will see that Social Security is not the big culprit. Health care programs are nearly five times as serious a funding challenge as Social Security.

The Real National Debt

“It is incumbent on every generation to pay its own debts as it goes.

A principle which if acted on would save one-half the wars of the world.”

Thomas Jefferson


We often hear the National Debt quoted by Politicians and the CBO as being $13+ Trillion.

According to most publications, as of July 28, 2010, the "Total Public Debt Outstanding" was approximately 93% of annual GDP, ($13.258 Trillion). But the current estimate for year end 2010 Debt is $14.4 Trillion so it’s really over 100%.

However, what you rarely hear is that this number does not include:

Medicare/Medicaid, $38.2 T

Social Security, 7.7 T

Fannie and Freddie debt, 5.0 T

This years’ enormous deficit spending ???

Like Obamacare, and other miscellaneous items.

When you add Medicare/Medicaid, Social Security and Fannie and Freddie you are looking at the 2010 year end "Real" National Debt as being $65.3 Trillion!

And Lord only knows how Obamacare and all of his Socialist programs are going to affect these numbers.