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In today’s edition of The Heartland Daily Podcast, Jesse Hathaway, managing editor of Budget & Tax News speaks with Bill Bergman. Bergman is the vice president of Truth in Accounting. Bergman joins Hathaway to talk about a new report on the federal government’s “credit card statement.”
This report gives an accurate and easy-to-understand way of thinking about just how much more the federal government’s spending exceeds its assets and revenue. Bergman explains how the federal government uses accounting gimmicks and tricks to make the national debt seem much lower than it really is, and what that means for current and future taxpayers alike.