Truth in Accounting: US national debt closer to $123 trillion, nearly $796,000 per household

Bethany Blankley  |  April 27, 2021

By Bethany Blankley (The Center Square), includes “The U.S. national debt is closer to $123 trillion, more than four times what the Treasury Department is reporting, Chicago-based Truth in Accounting calculates in its new annual analysis of the nation’s finances. … Unlike many state governments that have Rainy Day Funds or cash reserves, the federal government resorts to printing and borrowing more money or raising taxes instead of cutting spending. … Eighty percent of the government’s revenue comes from individual income and withholding taxes.”

Read the full article on: Princeton Daily Clarion (Indiana)

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