Among key differences between the operating deficit and the cash deficit were sharp increases in costs accrued for veterans' compensation, government and military employee benefits and anticipated losses at mortgage finance giants Fannie Mae and Freddie Mac.
I will tell you flat out that veterans benefits and every military and federal pension is peanuts compared to TARP and the massive bill having to purchase all the mortgage based securities.
So, Reuters tries to regain some semblence of reality:
The biggest increase in net liabilities in fiscal 2010 stemmed from a $1.477 trillion increase in federal debt repayment and interest obligations, largely to finance programs to stabilize the economy and pull it out of recession.
That money got pissed away in giveaways to state employee unions, payoffs to Democrat groups (do some research where this "stimulus" was larded), and to complete wastes of pork - not to stabilize or pull the nation out of anything.
The federal balance sheet liabilities do not include long-term projections for social programs such as Medicare, Medicaid and Social Security, but these showed a positive improvement.
No $%^& Sherlock! Can't "count" the biggest lead weights around our necks, now can we?
Here is something else Reuters doesn't mention: our biggest problem (in terms of unfunded liabilities) is Social Security. It is also has the largest portion of the budget of any single program. For every Dollar we spend on Social Security, we spend 0.75 cents on welfare. The media never count this, because they and the Democrats won't address welfare as a single program. The break it into 10,000 pieces (cash payments, aid to families with dependent children, food stamps, Section 8 housing, and on and on).
Compared to that, veteran's benefits aren't even a spit in the wind, but Reuters tries to hide the Democrat's spending binge behing wounded warriors? Pathetic.