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And the Real U.S. Debt is . . . .

Earlier this week, Veronique de Rugy took a "comprehensive" look at alternative estimates of America's debt. You can find it here at the Mercatus Center. We growled about one of these estimates, i.e., economics professor Laurence Kotlikoff's, which we growled about on June 30, 2012, August 26, 2012, September 1, 2012, and September 4, 2012.

As Ms. de Rugy points out, most "(f)iscal policy discussions generally focus on the current year’s budget numbers: $1.0 trillion budget deficit and $16.0 trillion national debt." In her short, two-page paper, she quickly identifies two offical estimates and explains how the two alternative estimates were computed. Here is  the chart that accompanies her perspective:

An important document to keep handy the next time a liberal/Progressive politician says America doesn't have a spending problem, or starts spouting about another government program is needed.


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