Rep. Cooper: Bush is hiding the true national debt

[antigop]

http://www.buzzflash.com/articles/alerts/105

This is from a BUZZFLASH news alert:


Though the Bush Administration's official budget lists the national debt and deficit as being incredibly high, they are actually far worse than reported, according to Rep. Jim Cooper (D-TN). But don’t just take his word for it, even if Cooper is a Rhodes Scholar and Harvard Law graduate. The following figures appear in the official U.S. Financial Report, released by the Treasury Department:

* The true 2005 deficit was $760 billion, not the $318.5 billion Bush reported
o This is 6.2% of the GDP, not 2.6%
o That's $156,000 for every citizen, or $375,000 for every working American
* The true national debt is $49 trillion, not the $8.3 trillion Bush reported
o This figure has more than doubled in the past five years
o We paid $327 billion last year on interest alone
* It's all getting worse


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Comments, anyone?

[mediaman007]

1. You're fucked if you stay in this country! If people immigrated for

various freedoms, certainly we can emigrate for financial freedom. Maybe Mexico and Canada will build walls to keep us in!

[rodeodance]

2. oh my gawd!

[tridim]

3. Two comments.. Holy F*ck and..

Why isn't the media and congress talking about it?

Were they planning to hide this forever?

[rucky]

4. I thought my mortgage was bad.

I didn't know I owed that much.

cripes.

[shraby]

5. And remember....the Iraq war is off budget!

[loves_dulcinea]

6. that was on NOW w/ david braccacio

F*cking excellent show, never falters.

[AnneD]

12. I am a regular viewer...

suprised they still allow it on the air. The truth is dangerous.

[Mnemosyne]

7. Error: You've already recommended that thread.

:kick:

[NVMojo]

8. wow, people are so stupid. heard a Repug talk about how she is against

paying taxes to give to someone else. She said this while working in a gubbermint job and this info looming overhead.

[progressoid]

9. Luckily, I just happen to have $375,000 to spare.....

NOT!!!

[mom cat]

10. This is indentured servitude! ... Yikes!

[indepat]

11. Who are going to be left without chairs when the music (others financing

our twin deficits) stops?

[FogerRox]

13. Kn R....... . . . . . . .Since it may be that the Economy is contracting

6.2% of GDP is probably an underestimation. 8% or 9%, with a contracting economy.