What's the real federal deficit?

[jeffrey]

The federal government keeps two sets of books.

The set the government promotes to the public has a healthier bottom line: a $318 billion deficit in 2005.

The set the government doesn't talk about is the audited financial statement produced by the government's accountants following standard accounting rules. It reports a more ominous financial picture: a $760 billion deficit for 2005. If Social Security and Medicare were included -- as the board that sets accounting rules is considering -- the federal deficit would have been $3.5 trillion...

USATODAY.com - What's the real federal deficit?

[poundwise]

I think the real federal deficit is between the ears and within the character of those making policy and mismanaging this country up on Capital Hill and parts beyond.

[Sporkman]

I think the real federal deficit is between the ears and within the character of those making policy and mismanaging this country up on Capital Hill and parts beyond.

No - it's between the ears and within the character of the American voters. If the American voters had the vision and wisdom to recognize the problem, then they'd vote for leaders who addressed the problem in a meaningful way. Instead, they don't want to hear about tough spending decisions, they'd rather vote for who talks tough about Iran and Gay Marriage.

[poundwise]

No - it's between the ears and within the character of the American voters. If the American voters had the vision and wisdom to recognize the problem, then they'd vote for leaders who addressed the problem in a meaningful way.

Sounds good... only problem is you have to have someone to vote for who fits the bill.

[sweeps]

The alternative is to have a true democracy -- the entire population directly votes on issues. I don't think that's any less scary.