''Feds’ Creative Accounting Masks Trillions in Unfunded Liabilities''

from new american...


"Officially, the United States’ federal budget deficit for 2011 will be roughly $1.3 trillion, a staggering and almost incomprehensible amount of money. But this doesn’t even come close to the actual shortfall faced by the Treasury this year. “The $1.3 trillion budget deficit would be $4.2 trillion if the change in the current cost of Social Security and Medicare promises during fiscal 2011 were included,” according to a Washington Postop-ed by Bryan R. Lawrence, founder of New York-based investment partnership Oakcliff Capital."