Total All Government Debt

Many items of public debt are never totaled for the public to see. Items such as Fannie Mae and Freddie Mac obligations, are a perfect example.

As long as the U.S. guarantees the payment of any obligation, that debt ought to be part of each year’s budget and the entire public debt.

Remember Enron and Citigroup and other big banks who were bailed out with taxpayer funds? Keeping heavy debts apart from regular government business hides real problems that eventually catch up with financial reality.

Financial chicanery such as this is the means whereby politicians are able to hoodwink the public. In private business, the culprits wind up in jail.