Dee Perez-Scott: Obama is lying through his teeth about the national debt

Here's the real truth about our nation's debt crisis that
President Obama and Congress doesn't want you to know
about...

Our nation's true debt stands at a whopping $120
trillion -- making the much reported and debated $14.3
trillion look like chump change!

Here's what we've found. According to the Congressional
Budget Office, and as reported by the CATO Institute,
a just released new report shows that the federal
government's publicly held debt is set to explode to
101 percent of the GDP in just ten years!

More than the value of everything produced in the U.S!

Even worse, the CBO warns that unless substantive change
in our nation's current course is made, by 2035 our
debt could reach 190 percent of our GDP.

the CBO just wrote our nation's obituary!

According to the report, the media, Obama and his cronies
are only targeting "debt held by the public," and are all
but IGNORING "intragovernmental debt" or debt that the
federal government owes itself in the form of I.O.U.'s. The
New York Post likens this debt as "money you swiped from
your kid's piggy bank. It may not appear on your credit
report, but it's money that you still have to pay back."

And finally, there's "implicit debt," -- UNFUNDED obligations

to programs like Social Security and Medicare.

All totaled, it exceeds $120 trillion.

So while Obama and Congress put on a show for the cameras
and pontificate about "staying in town until we get this
done," they aren't even discussing the real mountain of
debt that is looming overhead and threatening to destroy
our nation!

No. This is just a game to them, and we are being played
as fools.

The CBO said the problem cannot be fixed simply by cutting
"fraud, waste and abuse" and raising taxes. Instead, they
said it can only be fixed by a dramatic REDUCTION IN SPENDING.