Per Shadow Government Statistics: “Continuing $5 Trillion GAAP-Based Federal Deficit Remains Unsustainable, Uncontainable and Unstable. Against a headline, official quasi-cash-basis and gimmicked reporting of a $1.3 trillion federal budget deficit in 2011, GAAP-based accounting (using generally accepted accounting principles) indicates that the actual 2011 deficit ran somewhat in excess of $5 trillion for the year. [...]
Posted: January 5, 2012 by Kevin S. (Fixed Income Bubble, Global Fiat Currency Crisis)
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