We may be adding $7.8 trillion to the debt, each and every year, under Obama. Here is the theory.

An old, old article that is the news of this day, here at the Review, has this to say:

The federal government recorded a $1.3 trillion loss last year — far more than the official $248 billion deficit — when corporate-style accounting standards are used, a USA TODAY analysis shows. Link

No, the article was not a criticism of Bush, in spite of the fact that it was written in 2007. It presents a game that politicians play when reporting their mishandling of our money. The accepted annual deficit for 2007 was $248 billion dollars. But, according to USA Today, the actual deficit was $1.3 trillion - in the single year of 2007 !!

How can this be? Well, deficit reporting does not include

• losses in Social Security,
• Medicare
• Medicaid aid to the states,
• disaster aid to the states,
• the cost of interest on the national debt,
• the cost of war (although some say that this costing IS included in the accepted deficit report) the cost of buying back Treasury notes and that is the difference between the two numbers.
• the cost of Treasury bond "maturity" payments.

My question is this, and it is a scary consideration: if the reality of deficit spending is 6 times the number reported by Washington, ($248 billion versus $1.3 trillion, for example) , what is the REAL annual deficit when Obama is reporting three years of 1.3 trillion . . . . . . 7.8 trillion ??!!!!!!!!

Understand this: expenditures on Social Security, Medicare, Medicaid aid to the states, and the rest are "structural debt," and, as such, have little to do with Obama's scheming or Bush's big spending habits.

When Clinton sold all those short term 10 and 15 year Treasury notes, in his effort at showing a balanced budget (yes, Clinton's "balance budget" was the result of transferred debt and nothing more), he set up the next presidency for failure as relates to increased deficits. Bush and Obama are paying off the Treasury debt created by Clinton. But Bush sold Treasuries and the Obama Administration is doing the same. Still, the transference of debt is the trick played in the sale of United States Treasuries. And, in the end, the debt is exploding, and the American people care more about this than do our politicians.

Point of post: to scare the hell out of all who read this article.

Mission accomplished !!!!