NTU — The Forgotten Debt

When we look at the coverage of government debt, not only the media, but also the government fails to reveal the whole story. We are bombarded with a litany of stories about the federal budget deficit and the national debt, but the attention given to the debt issue is not the problem. The point is not the media’s failure to mention the topic of federal debt, but rather it’s the substance of the coverage that is lacking – specifically the way the amount of debt is calculated. It’s a far larger problem than a mere matter of incorrect addition. You can find the problem with every garbage pick-up man, mayor, city official, and governor across our nation. How is this possible? It stems from the debt carried by state and local governments, and it just might be the straw that breaks the camel’s back.

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