According  to Bloomberg, the "Fiscal Gap" is the true measure of debt. The gap "is the  present value difference between projected future spending and revenue. It  captures all government liabilities, whether they are official obligations to  service Treasury bonds or unofficial commitments, such as paying for food  stamps or buying drones."

The  U.S. fiscal gap, calculated (by us) using the Congressional  Budget Office's realistic long-term budget forecast -- the Alternative  Fiscal Scenario -- is now $222 trillion. Last year, it was $211 trillion. The  $11 trillion difference -- this year's true federal deficit -- is 10 times  larger than the official deficit and roughly as large as the entire stock of  official debt in public hands.

Read more: http://www.americanthinker.com/blog/2012/08/fiscal_gap_grew_by_11_t...