...Rasmussen: Deficit closer to $4 Trillon for 2012.
government “can unilaterally change the law to raise or lower future trust fund collections and payments or change the purpose for which collections are used.”
In other words, the money in government trust funds can be diverted to pay for anything the politicians want to spend it on. The government treats all the money as if it’s in a single pot that can be spent on anything according to the whims of Congress.
Only 10 percent of voters favor this approach but the Supreme Court has supported this interpretation and declared that the government has no legal obligation to pay promised benefits. Scott Rasmussen explains how this works in his new book, The People's Money: How the American People Will Balance the Budget and Eliminate the Federal Debt.
Rasmussen notes that “The simplest way to get people to make bad decisions is to give them bad information. That’s the way con men work, and that’s how America’s Political Class led America into a fiscal crisis. For several decades, the federal government has consistently and systematically misled the American people about federal spending, deficits, and the federal debt.”
Rasmussen notes that the actual federal debt is closer to $120 trillion rather than the $16 trillion discussed in Congress.
Another gimmick used by politicians is amazingly simple. As 62 percent of voters recognize, when politicians today say they are cutting spending, they are really talking about nothing more than reducing the growth of spending. The impact of this is staggering.
Using the official definitions, the CBO last year presented estimates of what would happen if Congress lived up to its promise to “cut” federal spending by $2.5 trillion over a decade. If that happened, the CBO showed that actual federal spending
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Resumen: Pollster and political analyst Scott Rasmussen says the U.S. is in the middle of a worsening fiscal crisis and the federal office charged with estimating the country's debt has missed the mark by trillions.
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