Inflation and unemployment are not the only examples of the government manipulating government statistics. As former Government Accounting Office Head David Walker recently pointed out in The Hill,the government is also understanding the true amount of the national debt:
“If you end up adding to that $18.5 trillion the unfunded civilian and military pensions and retiree healthcare, the additional underfunding for Social Security, the additional underfunding for Medicare, various commitments and contingencies that the federal government has, the real number is about $65 trillion rather than $18 trillion, and it’s growing automatically absent reforms,” Walker told host John Catsimatidis on “The Cats Roundtable” on New York’s AM-970 in an interview airing Sunday.
Skyrocketing federal debt is a major reason why other counties are challenging the dollar's world reserve currency status. Foreign investors are justifiably worried that the Fed's need to monetize the federal debt will result in a collapse of the dollar's value and a major economic crisis.
Learning the full truth about how the Federal Reserve plans to bailout the US (as well as foreign) governments is a major reason why passing the Audit the Fed bill is so important.
Thanks to US Senator Rand Paul, the US Senate will be taking a major vote on Audit the Fed in the next two-to-three weeks. Campaign for Liberty has launched a major campaign to pass Audit the Fed through the Senate. Please support our efforts.
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PDFTags: Audit the Fed, national debt