America’s national debt now exceeds $123 Trillion, according to a new report, or more than four times the official figure of $28 Trillion, as calculated by the U.S. Treasury Department at the end of March 2021. Federal spending related to the CCP Virus pandemic and economic lockdown added nearly $10 Trillion to the total in 2020, according to the latest edition of the “Financial State of the Union 2021” report, compiled and published annually by Chicago-based non-profit, Truth-in-Accounting (TIA). But spending prompted by the virus, which is also known as the Coronavirus Novel, represents only a small portion of the total difference between the official government figure and TIA’s calculation. “Our measure of the government’s financial condition includes reported federal assets and liabilities, as well as promised, but not funded, Social Security and Medicare benefits,” the report explained. “Elected and non-elected officials have made repeated financial decisions that have left …
True National Debt Exceeds $123 Trillion, or Nearly $800,000 per Taxpayer
April 19, 2021
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