US federal deficit much larger than claimed — Peter St Onge

Turns out this year’s federal deficit is a lot bigger than they claimed, and growing twice as fast.

Thanks to a cute accounting gimmick that counted student loan cancellation as revenue. That means our deficit is already $2 trillion — up 40% on a year ago.

And it means Congress promising $144 trillion in debt by 2053 could actually be low-balling.

This is another reason for war. Or more precisely, they don’t care about the deficit because they have known for a long time that they will be starting WW3. ABN