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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Investor-ex! who wrote (26481)	1/19/1999 2:21:00 PM
From: Bob Dobbs	Read Replies (2) of 116760

Not only do they know, but they know the actual debt is much higher than the quoted $5.5-6 T. You have to add the off-balance obligations of - are you ready for this? - $17 TRILLION - mostly for Pensions, Medicare, Fannie May, SBA, etc. The way they get around mentioning this is by the US govt using a CASH - not the more accurate ACCRUAL method of accounting. Total US govt obligation is actually $23 TRILLION !!! Imagine the debt servicing on that amount! It's just about all of the roughly $1 Trillion they take in yearly tax revenue! That's why they have to use a sleigh-of-hand in their deficit/debt quotes - if the truth were generally known there would be a severe backlash. Bob

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