Wisconsins state budget is almost twice as large per person as the state budget of Texas, and even after billions in tax cuts, Wisconsins working families and businesses remain subject to a heavy tax burden.
Some conservatives are pushing Gov. Scott Walker to use his second term to enact much deeper changes in Wisconsin government. When Walker got to office, Wisconsin was one of the worst states in the country in which to do business, with one of the highest regulatory and tax burdens,Mario Loyola, a senior fellow at the Texas Public Policy Foundation,wrote in the conservative National Reviewon Nov. 5, 2014. Some estimates now rate it as number 14 for doing business, but dont be deceived, Loyola wrote under the headline, Walkers Win: Why it was the most important GOP win in the country. He added: Wisconsins state budget is almost twice as large per person as the state budget of Texas, and even after billions in tax cuts, Wisconsins working families and businesses remain subject to a heavy tax burden. As Walker ramps up exploration of a 2016 presidential campaign, lets check the claim about spending and taxation in the Badger state. Well take the easy part first. Taxes Walker and Republican legislators have approved a variety of tax freezes and cuts. In March 2014, we ratedTruea Walker claim that hes delivered $2 billion in tax cuts, mainly by reducing income tax rates and limiting local property tax hikes. But an Oct. 14, 2014report by the Tax Foundationranked Wisconsin among the highest 10 states for business taxes on a scale that included corporate, individual income, sales, unemployment insurance and property taxes. Census figures on tax collections lag by two years, so they dont account for all of Walkers cuts. But the latest figures showed that property-tax and income-tax collections in Wisconsin run more than 25 percent above the national average,we reported. Theres ample evidence that Wisconsin is among the middle group of states when all sources of revenue are considered. But on taxes alone, the state remains closer to the top. Spending To back up his claim, Loyola, a University of Wisconsin-Madison graduate, pointed us to thestate expenditure study done in 2013 by the National Association of State Budget Officers. That report doesnt compute per-capita spending, but based on a survey of budget officials it shows a total spending figure from state revenues, federal aid and other sources. We did the math and it backs up the claim: In 2013, Wisconsin state budget spending was about $7,500 per capita compared to about $3,600 in Texas. The study comes from a respected trade group andother organizationsrefer to its findings. The study cautions, however: State governments have specific functional responsibilities that vary among states depending on the role of local governments in providing services. For example, in many states, the funding of elementary and secondary education is considered primarily a local function. We could not replicate the studys findings using U.S. Census surveys of state and local government finances. That Census data is preferred by researchers, though one drawback is that reporting of the data lags about two years. One researcher, Dale Knapp with the Wisconsin Taxpayers Alliance, said the census figures are better because the Budget Officers study includes some things that we generally dont consider part of the state budget -- the biggest of which is state retirement payments. They also include unemployment payments, lottery prizes, and capital expenditures, which can vary from year to year. When looking just at state spending (and excluding transfers to local governments), Wisconsin state government spends 27.1% more per capita than Texas in 2011, Knapp found. We also asked the Wisconsin Budget Project to run comparisons. Tamarine Cornelius and Jon Peacock of the group told us that Wisconsin per capita direct general expenditures were $1,114 above that of Texas, or 15 percent. That was for state and local expenditures. Wisconsin ranked #21 among the states; Texas was #38. So neither group backs up the claim that Wisconsin state government spends 100% more -- twice as much -- as Wisconsin on a per-capita basis. Still, we found that the numbers in the study cited by Loyola were drawn from the annual financial reports published by Texas and Wisconsin. On a topic where various definitions of state budget are fair game, that gives his claim a reasonable basis. Our rating Wisconsins state budget is almost twice as large per person as the state budget of Texas, and even after billions in tax cuts, Wisconsins working families and businesses remain subject to a heavy tax burden. Loyolas on target on taxes, and cites a credible study on spending that is open to challenge but generally defensible. We rate his claim Mostly True.
Claim:  At the end of 2009, Bank of America will be dropping FDIC coverage on all interest-bearing accounts.  Example:  [Collected via e-mail, December 2009] Bank of America, the largest bank in the U.S., posted notices attall branches that as of January 1, 2010 it will no long participate in the FDIC insurance guarantee program on interest bearing accounts. As of January 1, 2010, all deposits in interest bearing accounts will not be protected from bank losses. This development not only suggests that the FDIC is totally insolvent, It suggests that U.S. fiat money, placed in interest bearing accounts, will soon be defaulted in bank losses or replaced. How many other banks will quickly follow?  Origins:  After a wave of bank failures that came in the wake of the stock market crash of 1929 and the prolonged economic depression that followed, the U.S. federal government created the Federal Deposit Insurance Corporation (FDIC) to restore public confidence in (and help stabilize) the U.S. banking system. The FDIC currently provides federal government guarantees of deposits up to $250,000 per account holder per bank (subject to certain conditions) at insured financial institutions.   FDIC If, as claimed above, Bank of America (the United States' largest commercial bank) were dropping out of the FDIC program, that would certainly be alarming news that would shatter consumer confidence, not just in Bank of America, but in the FDIC and the entire U.S. commercial banking system.  Fortunately, no such thing is happening. We made a trip to our local Bank of America branch, where a helpful assistant manager made us a photocopy of the sign referenced in the example quoted above and took the time to answer some questions about its provisions.  Here is exactly how the sign reads: Beginning January 1, 2010, Bank of America will no longer participate in the FDIC's Transaction Account Guarantee Program.  Thus, after December 31, 2009, funds held in noninterest-bearing transaction accounts will no longer be guaranteed in full under the Transaction Account Guarantee Program, but will be insured up to $250,000 under the FDIC's general deposit insurance rules. The first item of importance is to note is that the change in question applies not to "interest bearing accounts" (e.g., savings accounts, certificates of deposit, individual retirement accounts, etc.) as claimed above, but only to noninterest-bearing transaction accounts (i.e., checking accounts). The second, larger item of importance is to note that Bank of America is not dropping FDIC insurance protection on any of its accounts.  It is merely winding down its participation in a temporary FDIC program that is already due to expire at the end of 2009. On 14 October 2008, the FDIC announced the implementation of its Temporary Liquidity Guarantee Program (TLGP), which included a program known as Transaction Account Guarantee (TAG). The TAG program guaranteed that the FDIC would  TAG provide full deposit insurance coverage for noninterest-bearing deposit transaction accounts (primarily business checking accounts), regardless of their dollar amount.   In other words, TAG was extra insurance protection in addition to, and separate from, the $250,000 coverage available under the FDIC's general deposit insurance rules  under TAG, a depositor who held, say, $2 million in a checking account was covered for the full $2 million amount, not just the first $250,000.  Bank of America will still be providing FDIC coverage for all accounts up to the standard $250,000 limit; it just won't be providing the extra TAG coverage that temporarily guaranteed noninterest-bearing accounts up to their full amounts beyond that $250,000 limit. Moreover, the reason Bank of America is dropping that extra coverage at the end of 2009 is because the TAG program was originally scheduled to expire on 31 December 2009.  The FDIC later announced it would provide participating institutions the choice of either opting out of TAG at the end of 2009 or of temporarily extending TAG coverage for another six months in exchange for increased fees.   Most of the largest banks in the U.S. (including Citibank, JPMorgan Chase, Bank of America, and Wells Fargo) have chosen to opt out of the program rather than pay the increased FDIC fees for extended temporary TAG coverage. expire Last updated:  20 December 2009 <!--    Ellen, Daryn.  "Guide to Tipping."   O, The Oprah Magazine.  December 2002. Healthcare reform has been a perennial political project in American politics, from the presidencies of Franklin D. Roosevelt and those of Richard Nixon through Bill Clinton, Barack Obama, and now Donald Trump. Both those for and against the concept of the United States' adopting a universal health care system often use comparisons between the U.S. and other countries to advocate for their positions, as exemplified by a 20 April 2018 post on the "U.S. Democratic Socialists" Facebook page featuring a widely-shared meme purportedly outlining the main features of the Japanese healthcare system: meme   We examine this meme point-by-point below: 1. 100 percent of Japanese have health insurance. This is basically true. Japan has universal health care, which means that everyone who lives there (except undocumented immigrants and short-term visitors) can access affordable care and is required by law to be covered by some form of insurance. For the most part, residents do this through two kinds of insurance, which are administered by the government: employment-based health insurance, and National Health Insurance (known as "Kokumin Kenko Hoken"). care Kokumin Kenko Hoken However, Japan's aging population, low birth rate, and economic stagnation have placed a burden on the country's universal health care system, so reforms to that system are under way. reforms 2. Costs are half of what is spent for healthcare in the United States. By the two most commonly-used metrics, this is about right. A country's health spending is most often measured in a couple of ways: the percentage of gross domestic product (GDP) spent on healthcare, and healthcare spending per capita (the total amount spent on health care divided by the number of people living in the country). According to 2016 data published by the Organisation for Economic Co-operation and Development (OECD), the United States spends 17.2 percent of its GDP on healthcare, by far the highest proportion among developed countries. Japan spends 10.9 percent of its GDP, about two-thirds the relative amount the United States does. data In 2016, total healthcare spending in the United States worked out to be $9,892 per person per year, again by far the highest level in the developed world. In Japan that figure was $4,519 per person, which is less than half than the United States spends. 3. Japanese can choose their own doctors and see them twice as often as Americans Japan has what is known as a "free access" system, which means  as the meme correctly states  that for the most part patients can use whichever doctors and hospitals they choose.  According to the Health and Global Policy Institute, patients should get a referral letter before presenting at larger hospitals. This is partly because the free access system can sometimes mean individuals with only minor ailments present at hospital emergency rooms, creating a backlog for patients in more urgent need of care.  referral letter backlog Japanese people visit doctors even more than twice as often Americans do, at least according to OECD data. Figures from 2011 (the most recent year for which a direct comparison is possible) show that United States residents averaged four doctors' consultations per person that year in the United States, while in Japan the figure was more than three times higher, at 13 doctors' consultations per person that year. (In 2014, that figure was 12.7 doctors' visits per person per year in Japan.) Figures 4. Japanese have the world's longest life expectancy and the second lowest infant mortality.  This is true. According to United Nations data, a Japanese person born in 2014 could expect to live, on average, until the age of 83.6, the highest life expectancy figure of more than 200 countries. (Children born in Hong Kong can expect to live to 84, but Hong Kong is a territory of China, not a sovereign nation.) data Research has shown that the relatively healthy diet and lifestyle of Japanese people, as well as good healthcare, plays a significant role in their longevity. Research United Nations data also show that in 2013, the most recent year for which data are available, Japan had the joint second-lowest rate of infant mortality in the world, defined as the number of children who died under the age of one for every 1,000 live births. With 2.1 infant deaths per 1,000 live births, Japan was ranked second, along with Finland and just behind Iceland and Luxembourg. data 5. 95 percent of Japanese healthcare is not-for-profit. It's not clear what this claim means, so we can't really evaluate its accuracy. Does this mean 95 percent of healthcare providers operate on a not-for-profit basis? That 95 percent of procedures are performed on a non-profit basis? That 95 percent of all health care expenditures relates to not-for-profit providers? We do know that by law, hospitals in Japan cannot operate for profit, with the exception of large for-profit companies who build hospitals for their own employees. According to an analysis by Ryozo Matsuda, a health policy expert at Ritsumeikan University in Kyoto, 80 percent of hospitals are privately run. Facilities that provide care for elderly and disabled people (e.g., nursing home care, respite care, home care) can operate for profit, and according to Matsuda, most do.  analysis 6. The government sets all fees for medical services and drugs. That's true. More specifically, the fees are set by a government-appointed body called the Central Social Insurance Medical Council. A 2016 study in the journal Risk Management and Healthcare Policy described the system as "a uniform fee schedule at national level," noting that "All providers, no matter whether private or public, share the same prices for their medicines, devices, and services under this nationwide fee schedule." body study Ministry of Health, Labor and Welfare (Japan).  "Overview of Medical Service Regime in Japan."
  Accessed 25 April 2018. Reich, Michael R. and Kenji Shibuya.  "The Future of Japan's Health System -- Sustaining Good Health with Equity at Low Cost."
  The New England Journal of Medicine.  5 November 2015. Otake, Tomoko.  "April 1 Marks Start of Japan's New Medical Fees and Processes."
  Japan Times.  13 February 2018. Dum, Bel.  "Unlocking the Secrets of Longevity in Japan."
  Scientific American.  12 July 2016. Matsuda, Ryozo.  "The Japanese Health Care System."
  The Commonwealth Fund.  October 2016. Zhang, Xing and Tatsuo Oyama.  "Investigating the Health Care Delivery System in Japan and Reviewing the Local Public Hospital Reform."
  Risk Management and Healthcare Policy. 18 March 2016. Barack Obama and U.S. Sen. Ted Cruz, R-Texas, lately have aired similar concerns about the future of working-class Americans, though they differ over what to do. In hisJanuary 2015 State of the Union address, the Democratic president said he wants towork with Congress to offer free community college to students while creating other education, child care and retirement savings programs to help the middle class. Funding, hes proposed, would come from a $320 billion tax increase on the nations highest earners and financial institutions including investment banks. After Obamas speech, Cruz told Fox News he was disappointed with Obamas goals to increase government spending and taxes, which he described as hurting hardworking Americans. Then Cruz said the countrys rich and powerful have gotten fat and happy on Obamas watch. Today the top 1 percent earn a higher share of our national income than any year since 1928, Cruz said. Take that, Mister President! And was Cruz right? Cruz cites West Coast economist By email, Cruz spokesman Phil Novack indicated Cruz does not agree with Obama, who said in his speech he wants to reduce the top 1 percents after-tax income. Novack said Cruz, rather than increase taxes on the wealthy, believes the only way to jumpstart the economyis by championing pro-growth policies like energy development and aflatter, simpler tax structure. And, Novack said, Cruz drew his comparison to 1928 froma reportby the Pew Research Center citing research byEmmanuel Saez, a University of California, Berkeley economics professor who studies wealth and income inequality. Saez helps steer theWorld Top Incomes Database, sponsored by the Paris School of Economics, a research center and conglomerate of French universities offering graduate degrees and post-graduate fellowships in economics. The database, in place since 2011, shows the distribution of top incomes for more than 20 countries using data from millions of tax returns collected over about 100 years. By email, Saez said he and economists includingThomas Pikettybuilt the database from sources including public-use files of individual tax returns. The public-use micro-files are blurred to preserve each payers confidentiality, Saez said. A closer look To check on changes over time for ourselves, we built a chart fromthe database. The resulting data, covering 1913, the earliest checkable year, to 2012, shows 1928 and 2012 to be the top two years where the top 1 percent of the richest Americans (the richest of the rich)earned the greatest share of the nations income, whichthe government breaks downinto 15 categories including wages, salaries and self-employment income plus income from dividends and interest. In 1928, the top 1 percentof earners, then comprised of about 1.2 million residents, together held 19.6 percent of the nations income. In 2008, the year Obama was elected president, the top 1 percent possessed nearly 18 percent. The 1 percent collectively saw its share of the nations income escalate nearly 5 percent through the first three years of Obamas presidency. And in his fourth year, 2012, the 1 percent (nearly 314 million residents) controlled 19.34 percent. According to the database, that was the greatest share these wealthiest Americans had held since 1928, as Cruz said.(No. 3 goes to 1927, when the top 1 percent had 18.7 percent of U.S. income.) Top 15 years the richest American taxpayers had the greatest share of U.S. income 1913 through 2012  Year Top 1% income share 1928 19.6 2012 19.34 1927 18.68 1916 18.57 1929 18.42 2007 18.33 1914 18.16 2006 18.06 1926 18.01 1913 17.96 2008 17.89 2005 17.68 1936 17.64 1917 17.6 1925 17.6 Source:The World Top Incomes Database, 2011 (accessed Jan. 30, 2015) By email, Saez told usObama and Congress (which shifted to Republican control in his tenure) did little to address wealth inequality up until 2012 as the country recovered from the Great Recession -- which officially lasted from December 2007 to June 2009. In aSept. 3, 2013, report, Saez wrote that in 2012, average real  incomes per familyin the top 1 percent of earners nationally increased by 19.6 percent, while average incomes among the rest of us grew1 percent. The report said the entire surge in top 1 percent incomes in 2012 could be a result of income re-timing -- when people hold off on making payments so they can report a higher income to take advantage of lower tax rates. By email, Saez said he expects the top 1 percents income share for 2014 to prove slightly lower than in 2012 as a result of tax increasesapproved by Congress and Obama in 2013raising the nations marginal income-tax rate from 35 to 39.6 percent for married couples earning more than $450,000 annually, starting in 2013. That deal, which also whittled tax deductions for high-earning businesses and individuals, helped the government avoidthe fiscal cliff, a term describing the looming impact of tax cuts initiated by President George W. Bush expiring at the end of 2012 at the same time congressionally mandated spending reductions were due to kick in. Questions about income-inequality research The World Top Incomes Database and Saezs work have become popular sources forpoliticiansto cite when discussing income and wealth inequality. Still, some experts have raised doubts about what goes into the Piketty-Saez inequality measurements. By email, Gary Burtless, an economist with the Brookings Institution, a Washington, D.C., think tank, said the Saez-Piketty data understate income growth by the bottom 99 percent. That is, he noted, Piketty and Saez limit their focus to pre-tax private income including wages, self-employment earnings, dividends, interest, rental payments and, in some cases, capital gains. The result, Burtless said, is the database doesnt consider other sources of income such as Social Security, unemployment benefits, food stamps, government reimbursement of medical bills and untaxed fringe benefits such as employer contributions to health and retirement plans. If we include these income items, the bottom 99 percent of income recipients has enjoyed much faster increases in income than whats shown by Piketty and Saez, Burtless wrote. Burtless suggested the best statistics on U.S. income inequality come from the nonpartisanCongressional Budget Office. That's because CBO constructs 3 measures of income -- gross market income, pretax income (gross market income plus cash and no cash government transfers), and after-tax income (pre-tax income minus federal income, payroll, and excise taxes), Burtless said in his email. CBO data indicates that from 2009 to 2010, the top 1 percents share of income increased from 13.3 percent to 14.9 percent. (To refresh, Piketty and Saez say their research shows the top 1 percents share of income escalating from 16.68 percent to 17.45 percent.) Next, we talked to Robert Litan, another economist with the Brookings Institution, about why income inequality escalated so quickly in Obamas first term. By email, Litan said reasons for the rising share of the top 1 percents income include rising CEO pay relative to workers, extraordinary success of tech entrepreneurs in particular, made possible by Internet + globalization, and successful financiers, especially hedge fund managers. AJune 12, 2014 articleby the liberal Economic Policy Institute also highlights inequality in earnings and compensation between CEOs and typical workers. Burtless and Litan also told us by email Congress and Obama could not have done much to affect the percentage increase of the top 1 percents income based on Piketty-Saez measurements. The Congress and president have a bigger direct impact on after-tax income than on pre-tax income because their decisions directly affect the tax burdens and government transfer payments of families in different positions in the income distribution, Burtless said. Our ruling Cruz said: Today the top 1 percent earn a higher share of our national income than any year since 1928. Cruz accurately recapped calculations of income by respected researchers though this statement fails to note there are some income streams not part of the cited calculations that would tend to help those of us in the bottom 99 percent, relatively speaking. Also, tax changes that took effect in 2013 may slightly be reducing how much of the nations income is held by the top 1 percent. Mark this statement Mostly True. MOSTLY TRUE The statement is accurate but needs clarification or additional information. Click here formoreon the six PolitiFact ratings and how we select facts to check. Since October 2006 this story has come to us under a variety of titles, including "Going Postal," "Angels at the Post Office," "Angels Turn Up In Unexpected Places," and "This is a US Postal Service Story." Example: Some of you may know that our 14 year old dog, Abbey, died last month (8/23). The day after she died, my 4 year old daughter Meredith was crying and talking about how much she missed Abbey. She asked if we could write a letter to God so that when Abbey got to heaven, God would recognize her. She dictated and I wrote: Dear God,Will you please take special care of our dog, Abbey? She died yesterday and is heaven. We miss her very much. We are happy that you let us have her as our dog even though she got sick. I hope that you will play with her. She likes to play with balls and swim before she got sick. I am sending some pictures of her so that when you see her in heaven you will know she is our special dog. But I really do miss her. Love,Meredith Claire P.S.: Mommy wrote the words after Mer told them to her We put that in an envelope with 2 pictures of Abbey, and addressed it to God/Heaven. We put our return address on it. Then Mer stuck some stamps on the front (because, as she said, it may take lots of stamps to get a letter all the way to heaven) and that afternoon I let her drop it into the letter box at the post office. For a few days, she would ask if God had gotten the letter yet. I told her that I thought He had. Yesterday, for Labor Day, we took the kids to Austin to a natural history museum. When we got back, there was a package wrapped in gold paper on our front porch. Curious, I went to look at it. It had a gold star card on the front and said "To: Mer" in an unfamiliar hand. Meredith took it in and opened it. Inside was a book by Mr. Rogers, When a Pet Dies. Taped to the inside front cover was the letter we had written to God, in its opened envelope (which was marked 'Return to Sender: Insufficient address'). On the opposite page, one of the pictures of Abbey was taped under the words "For Meredith." We turned to the back cover, and there was the other picture of Abbey, and this handwritten note on pink paper: Dear Mer,I know that you will be happy to know that Abbey arrived safely and soundly in Heaven! Having the pictures you sent to me was such a big help. I recognized Abbey right away. You know, Meredith, she isn't sick anymore. Her spirit is here with me  just like she stays in your heart  young and running and playing. Abbey loved being your dog, you know. Since we don't need our bodies in heaven, I don't have any pockets!  so I can't keep your beautiful letter. I am sending it to you with the pictures so that you will have this book to keep and remember Abbey. One of my angels is taking care of this for me. I hope the little book helps. Thank you for the beautiful letter. Thank your mother for sending it. What a wonderful mother you have! I picked her especially for you. I send my blessings every day and remember that I love you very much. By the way, I am in heaven and wherever there is love. Love,God, and the special angel who wrote this after God told her the words. As a parent and a pet lover, this is one of the kindest things that I've ever experienced. I have no way to know who sent it, but there is some very kind soul working in the dead letter office. Just wanted to share this act of compassion :) dear friend  hope you enjoy it as much as I did According to Cary Clack of the San Antonio Express-News, the tale is real. In mid-August 2006, the San Antonio family of Greg and Joy Scrivener and their three children suffered the loss of Abbey, their 14-year-old black and white dog. Driven by concern for their pet's future welfare, 4-year-old Meredith, the Scriveners' middle child, dictated the note quoted above to her mother, then enclosed it and two photos of the family dog in an envelope addressed "To: God in Heaven." This envelope, bearing the family's return address, was dropped into a mailbox at the Brook Hollow post office. Two weeks later, the Scriveners found on their front porch a package wrapped in gold-colored paper and addressed "To: Mer." In the parcel, along with the letter from "God" quoted above, was a book by Fred Rogers (of TV's Mr. Rogers' Neighborhood fame), When a Pet Dies (a book that "helps children share feelings of the loss of a pet while offering reassurance that grieving is a natural, healing thing to do"). When a Pet Dies According to her mother, Meredith was comforted by the book and letter and was unastounded that God saw fit to write back. "She wasn't surprised because she had such faith that her letter was going to get to God." (The oldest of the Scrivener children, 6-year-old Andy, was impressed, though: He "thought it was pretty special his sister got a book from the angel," says his mum.) While Mrs. Scrivener considered asking at the post office about the package, she decided against it. "I kind of like not knowing," she said. "I don't know who took the time to do it, but it was an angel. We all think about doing these things, but no one takes the time to do it." However, even true tales become subject to embellishment when circulated on the Internet. Often accompanying the online version is a photograph of a little blonde girl hugging a black Labrador retriever, yet it is not a photo of the actual child and dog from the story. Instead, some unknown person in search of a "little girl and her dog" picture copied it from a web site belonging to an unrelated family. The child in the misattributed photo's actual name is Isabelle and the dog's name is Sara: photograph  Clack, Cary.  "Angel Mails Solace, Affirms a Girl's Faith."
  San Antonio Express-News.  22 October 2006  (Life; p. 1). Debt is typically a major campaign issue in elections from the municipal level all the way up to the office of the President of the United States.  Candidates tout their accomplishments in balancing budgets or reducing government debt as examples of fiscal prudence while pointing to increased debts during their opponents' administrations as indicators of profligate and wasteful spending of taxpayers' money.    The chart reproduced above, which was posted to the Flickr account of House Minority Leader Nancy Pelosi, attempted to reverse conventional political stereotypes by portraying recent Republican presidents as responsible for huge increases in the national debt, while showing recent Democratic presidents as responsible for much lower increases in the level of debt.   Flickr account As a first step in evaluating this chart, we have to determine the applicable definition of "debt."  In general, the term "public debt" (or "debt held by the public") refers to money borrowed by the government through the issuance and sale of securities, government bonds, and bills.  It includes federal debt held by all investors outside of the federal government, including individuals, corporations, state or local governments, the Federal Reserve banking system, and foreign governments. Another form of debt is "intragovernmental debt" (or "debt held by government accounts"), which refers to money that the government has borrowed from itself, such as when the U.S. government invests money from federal savings programs such as Medicare and the Social Security trust fund by buying up its own treasury securities.  A variety of names have been applied to the total of these two forms of debt, including "gross federal debt," "total public debt," and "national debt." Although this chart is labeled as presenting a "percent increase in public debt," it actually uses figures corresponding to the total described as "gross federal debt" above (i.e., a combination of debt held by the public and debt held by government accounts, rather than just the former).  We checked the numbers in this chart by using (for pre-1993 years) the U.S. Treasury's Monthly Statement of the Public Debt (MSPD), noting the total debt reported as of January 31 of each relevant year, and (for 1993 onwards) the Treasury's The Debt to the Penny and Who Holds It application, noting the total debt reported as of Inauguration Day of each relevant year. Monthly Statement of the Public Debt The Debt to the Penny and Who Holds It From these records, we gleaned the following information: Ronald Reagan:Took office January 1981.  Total debt: $848 billionLeft office January 1989.    Total debt: $2,698 billionPercent change in total debt:  +218%  George H.W. Bush:Took office January 1989.  Total debt: $2,698 billionLeft office 20 January 1993.    Total debt: $4,188 billionPercent change in total debt:  +55% Bill Clinton:Took office 20 January 1993.  Total debt: $4,188 billionLeft office 20 January 2001.  Total debt: $5,728 billionPercent change in total debt:  +37% George W. Bush:Took office 20 January 2001.  Total debt: $5,728 billionLeft office 20 January 2009.  Total debt: $10,627 billionPercent change in total debt:  +86% Barack Obama:Took office 20 January 2009.  Total debt: $10,627 billionTotal debt (as of the end of April 2011):  $14,288 billionPercent change in total debt:  +34% So, as far as raw numbers go, the chart is reasonably accurate (although our calculations produced a somewhat higher debt increase for Ronald Reagan than reported).  That said, however, we have to consider how valuable these numbers are; whether by themselves they present a reasonable comparative measure of presidential fiscal responsibility.  In that regard, one could find a number of aspects to take issue with:  The chart isn't a true comparison of equals, as it includes three presidents who served two full terms (Reagan, Clinton, and George W. Bush), a president who served one term (George H.W. Bush), and a president who had served half a term (Obama).  Obviously, the longer a president holds office the greater the opportunity for him to influence the debt, and certainly (barring a radical change in current circumstances)  the increase reported for Barack Obama would be considerably higher by the time he left office.   All presidents come into office with policies and budgets that were put into place by their predecessors in the White House and Congress, and they all pass the same along to their successors when they leave office.  Therefore, determining how much of the change in debt that occurs during a given president's administration is actually the result of his actions (rather than the consequence of factors over which he had little or no influence) would require a much more complex analysis than the one presented here.  Which is the best measure of debt for this purpose: public debt, intragovernmental debt, or a combination of the two?  As noted in the General Accounting Office's FAQ on Federal Debt, they represent rather different concepts: FAQ Debt held by the public approximates current federal demand on credit markets. It represents a burden on today's economy, and the interest paid on this debt represents a burden on current taxpayers. Federal borrowing from the public absorbs resources available for private investment and may put upward pressure on interest rates. Further, debt held by the public is the accumulation of what the federal government borrowed in the past and is reported as a liability on the balance sheet of the government's consolidated financial statements. In contrast, debt held by government accounts (intragovernmental debt) and the interest on it represent a claim on future resources. This debt performs largely an internal accounting function. Special federal securities credited to government accounts (primarily trust funds) represent the cumulative surpluses of these accounts that have been lent to the general fund. These transactions net out on the government's consolidated financial statements. Debt issued to government accounts does not affect today's economy and does not currently compete with the private sector for available funds in the credit market.   Are plain percentage changes in the national debt level a useful figure, or do they need to be placed in context to have relevance?  Some would argue, for example, that the Debt-to-GDP ratio is a better measure of economic health relative to the national debt than raw debt figures alone, and a chart which tracked the change in that ratio over the last several presidencies would paint a significantly different picture of debt levels than the one displayed above.  Debt-to-GDP chart All in all, this is a case of relatively accurate information which is of marginal value due to a lack of proper comparative context. In December 2014, a number of Facebook pages using car brand names such as Audi, Range Rover, Mercedes, and Camaro (among others) posted directives similar to the messages quoted above. The pages claimed that Facebook was giving away cars. Among the cars offered in the giveaways were Audi R8s, Range Rovers, Mercedes-Benz E63 AMGs, and Chevrolet Camaro SS models. Almost all the scams followed the same format: they instructed users to like a separate page, like the original post, and share the post on their own Timeline (thereby validating its legitimacy and enticing others to do the same).users were eligible to win one of two available vehicles in the winner's choice of color simply by liking a separate Facebook page, liking and sharing a post, and waiting for an inbox message confirming the winners. In April 2016, the scam reappeared, this time with a Range Rover as the car offered in the giveaway:    The first clue the giveaways following this format were not on the up-and-up was the pages to which Facebook users were directed, pages that had been created just days before the giveaway posts begin to appear. Not only were the secondary Facebook pages involved always new, they were also not linked with car companies or other interests one might imagine could reasonably be expected to offer up a car in exchange for social media advertising (such as automobile dealerships, insurance companies, or large retailers). Were a legitimate company to engage in such a high-ticket contest giveaway, the incentive would be exposure; however, no corresponding promotional return on advertising investment was discernable in these Facebook giveaway claims. The tactics were similar to recent scams involving Costco, Kroger and Amazon gift cards, but the six-figure price tag attached to some of the vehicles involved in the Facebook car giveaway posts proved a far more difficult-to-resist enticement for some users, not all of whom questioned whether sharing a page presented any negative consequence should it later turn out to be a prank, hoax, or other false promise. Costco Kroger Amazon The pages to which users were directed carried all the hallmarks of "like farming" operations intended to quickly build and sell popular Facebook pages. Even if the page creators' intent were only to build an audience, users' participating in the scam created a larger incentive for employing future fakery of the same description to crowd Facebook feeds. Scammers could also exploit a large audience by mining varying levels of personal data from those who have liked a page of dubious origin. So Facebook users who participate in such fake giveaways not only unwittingly help spammers pollute the social network with scams, they may also risk being exposed to malware, clickjacking, or other unpleasantries (such as finding their names and identities endorsing a scam, hate page, or other undesirable activity). Giveaways, particularly of high-value merchandise, are generally rare and almost always conducted through brands' official channels or the social media accounts of related large companies. In late December 2018 and early January 2019, several dubious websites published articles reporting that famed rock-and-roller (and political activist) Ted Nugent had announced a "Build the Wall" benefit concert to raise funds for President Trump's U.S.-Mexico border wall project. The earliest of these articles appeared on WeAreTheLLOD.com, part of a network of junk news websites known as "America's Last Line of Defense" (LLOD). Here is an excerpt, as published on 30 December 2018: earliest LLOD Ted Nugent, one of the greatest figures ever in rock n roll, has decided to throw a benefit concert to raise money to help build the border wall. Nugent will use his massive influence in the world of music to put together a music festival that will rival Woodstock. The hope is that the three-day festival will attract conservatives rather than liberals, who will do more than dance around drinking and drugging. According to Event Coordinator, Art Tubolls: "Rather than having self-proclaimed chemists selling doses of PCP, well have respectably dressed young men and women collecting donations from concerned Americans. We believe we can raise no less than $50 million, which is way more than they need to start a wall somewhere. The law says once you start a federal project you cant stop. We will make our lives safer from the small percentage of refugees who come here on foot." As we have pointed out on many previous occasions, however, none of the websites under the LLOD banner publishes real news. This article, like everything else that originates with America's Last Line of Defense, is fiction. By design, the content is preposterous and politically divisive, meant to provoke outrage among (and cause embarrassment to) conservative-leaning readers. The websites' disclaimers describe said content as "satire": describe Americas Last Line of Defense is a whimsical playland of conservative satire. ... Everything on this website is fiction. It is not a lie and it is not fake news because it is not real. If you believe that it is real, you should have your head examined. Any similarities between this sites pure fantasy and actual people, places, and events are purely coincidental and all images should be considered altered and satirical. Over time, these websites have become more overt in displaying their intent, but given how the Internet works, simply slapping a "satire" label on a fabricated story doesn't necessarily prevent readers from mistaking it for fact. This is especially true when, as in this case, the article is reproduced verbatim on other websites and blogs that bear no disclaimers. This blurb for one such repost appeared in the Tomi Lahren Facebook group, which has more than 20,000 members: reproduced blogs   Some of these copycat sites also reproduced follow-up articles from LLOD claiming that liberals refused to grant a permit for Nugent's concert in New York and that Dallas Cowboys owner Jerry Jones agreed to allow the concert to be held in Texas Stadium (which no longer exists). refused agreed Eagleton, Flagg.  "BREAKING: Ted Nugent Announces 'Build the Wall' Star-Studded Benefit Concert."
 America's Last Line of Defense.  30 December 2018. In August 2016, a graphic featuring a picture of billionaire George Soros next to a quote ostensibly uttered by him about his goal to "bring down the United States by funding Black Hate groups" began circulating via social media:  Although this image indicated that the business magnate and political activist issued this comment during the course of an interview with the Germany newspaper Bild in September 2014, we found no evidence that any such interview took place. The putative statement from Soros about his funding "Black Hate groups" does not appear in the newspaper's archives for September 2014 (or any other month), nor did we find reference to it in any other credible publication. archives The first iteration of this quote we could uncover appeared on the Tumblr page "Overpasses for America" in an article published on 19 August 2016, nearly two years after Soros allegedly issued these inflammatory remarks. Aside from the suspicious lack of documentation for this alleged Soros quote, it's highly unlikely that the billionaire would be so open and candid about a plan to fund "Black Hate groups," manipulate the black community, and bring down the United States in a newspaper interview. (It also makes little sense for Soros, one of the world's richest people and most successful capitalists, to be motivated to dismantle the nation that is home to the planet's largest economy.) Fake quotes are frequently accompanied by false source information in order to make them appear legitimate. This tactic has also been used for viral quotes ostensibly uttered by presidential candidates Donald Trump and Hillary Clinton, for example: Trump was accused of saying that Republicans were the "dumbest group of voters" during an interview with People, and Clinton was accused of saying the same of Democratic voters in a 2005 book. Yet neither Clinton nor Trump made such comments. accused accused In November 2023, multiple Facebook ads were displayed to users that led to an article that bore the People magazine logo and claimed that Sheryl Underwood, the longtime co-host of "The Talk," would be leaving the TV talk show to work on expanding her own line of keto gummies for weight loss. However, this was not true. Underwood has nothing to do with any keto gummies for weight loss, nor did People magazine ever publish any such story. Underwood was simply the latest person in a long line of famous people who had had their image and likeness used without permission to sell keto gummies. Further, this false rumor that mentioned Underwood led to a dangerous scam that could potentially cost victims thousands of dollars per year. a long line of famous people One version of the Facebook ad claimed, "Producers are furious that she came forward." The headline in the ads read, "Sheryl Abandons 'The Talk' After Confessing Her Trick." Two of the false Facebook ads that promoted the scam. These ads led to a fake People magazine article on scam websites including emperorsland.pro, sizzlingpear.pro, mindfulmovement.pro and chillytreats.info. (We were unable to provide an archived link to the article since scammers design these websites so that the scam version of the page is cloaked from prying eyes  that is, unless users specifically came from a Facebook ad.) This is not a true story, nor did People.com ever publish any such article. The fake People magazine article, which was nothing more than fiction and a scam, began as follows: Sheryl Underwood Confirms She Is Leaving 'The Talk' After Her Accidental 'Live' Confession On-Air... The host said that it was 'time for a break', but she may actually have bigger things in mind. (People) - Sheryl Underwood, the 60-year-old host on CBS's show 'The Talk', shocked everyone when she announced her departure from the show after 12 record-breaking years on-air. Sheryl, who has earned the reputation of being one of the most business savvy women in the industry, made sponsors (and CBS) FURIOUS. Why? Because Sheryl failed to disclose her new weight loss line to the network. Sheryl's new company is actually a HUGE competitor to CBS's current sponsor Weight Watchers because Sheryl's product is 90% cheaper and five times more effective than Weight Watchers's competing product. According to sources, CBS made Sheryl decide on which direction she was going to focus on in the future. Being so turned off by the reaction of the network and their power move she has decided to pursue her new weight loss line and dream. The scam article went on to falsely claim that other celebrities had joined with Underwood to promote the products, whether they be Belly Blast Keto Gummies, Total Fit Keto Gummies or other products. It is a fact that no celebrities have ever endorsed keto gummies that are purportedly intended for use in weight loss. Websites that promote sales of keto gummies for weight loss usually lack information about the true creators of the products and the source of where they were packaged. In the past, some consumers who fell victim to these scams told Snopes that the post office box numbers included in return addresses for the products don't exist. The rabbit hole for keto gummies goes even deeper, however. Two odd scenarios have been laid out by numerous victims of the scams, which usually involve monthly subscription fees often reported as being around $200 or more, or around $2,400 per year. Some consumers said that they never ordered the products but kept receiving shipments that they had no way of returning, due to fake return addresses. On the flip side, other customers said that they received charges for the products on their credit card statements despite never having ordered them, and then never received any products in the mail. Further, listings for keto gummies for weight loss on Amazon.com and Walmart.com often feature the words "Shark" and "Tank," although not consecutively as "Shark Tank." The two words are included in product listings on Amazon.com and Walmart.com so that any customers searching online for keto gummies with the words "Shark Tank"  after those same customers saw false claims that said the TV show's investors endorsed the products  would then fall victim to the scam and purchase the products based on the "Shark Tank" lie. Again, to be clear, no investors associated with "Shark Tank" ever endorsed gummies. false claims If any readers have been victimized by these scams, we recommend contacting your credit card company immediately, reporting fraud to the FTC and also searching the U.S. Better Business Bureau's (BBB) website to perform a search for the product name associated with the purchase on your account or the product that arrived at your doorstep, so that you can find the company or LLC connected with the scam. reporting fraud to the FTC website Liles, Jordan. Shark Tank Keto Gummies Weight Loss Reviews Are a Scam. Snopes, 14 Mar. 2023, https://www.snopes.com/fact-check/shark-tank-keto-gummies-weight-loss-reviews/. This page features a daily collection of links to news articles and web sites of interest to readers of our web site. Due to the ephemeral nature of this type of material, some of the links may expire within a few days of being posted here. Stories are chosen for inclusion here purely on the basis of their appeal to our readers; we make no claims about the reliability of information linked from this page. All of the links included here are viewable at no charge, although some publications may require a free one-time registration to access their articles.    Because They Got High  (21 September 2015) Because They Got High FACT CHECK: Did Republican presidential candidate Carly Fiorina say that half of reported rapes were women regretting something they did while high or drunk?     One Misdirection  (26 August 2015) One Misdirection FACT CHECK: Did Joey Fatone pen an open letter to One Direction?     Boston's Nasty Snowpile Still Hasn't Melted  (CityLab) Boston's Nasty Snowpile Still Hasn't Melted Were coming up on July and New England temperatures are in the 70s, yet Bostons snow doesnt seem to know that. Its still there, sitting in a cold, corpulent mound that occasionally melts just enough to discharge garbage.     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Illegally Parked Car Covered in Post-Its  (UPI) Illegally Parked Car Covered in Post-Its A video shows the car covered in blue and white sticky notes to draw the International Symbol of Access  a stick figure in a wheelchair  on the back and side of the vehicle after it was illegally parked in an accessible space.     Something's Rotten: Stench from Fridge Sends 11 to Hospital  (Associated Press) Something's Rotten: Stench from Fridge Sends 11 to Hospital A smelly refrigerator sent nearly a dozen people to the hospital.     Men Hospitalized, Recovering After Rare Beaver Attack  (Reuters) Men Hospitalized, Recovering After Rare Beaver Attack Two hikers who were assaulted by a beaver after they climbed onto its dam have been hospitalized for injuries incurred during the rare attack.     Theater Switches Horror Movie for Disney Film  (Associated Press) Theater Switches Horror Movie for Disney Film Parents and children settled into their seats for a new animated Disney film got a quick jolt when a horror movie came on the screen instead.     Break-In Suspect Left Wallet Behind  (Associated Press) Break-In Suspect Left Wallet Behind Sheriff's deputies had little trouble identifying a break-in suspect whose wallet and ID were left at the scene.     16 Police Forces Respond to Wedding Brawl  (UPI) 16 Police Forces Respond to Wedding Brawl More than a dozen different police departments responded to a wedding brawl that grew violently out of control.     Sex Sounds Rile Neighbors  (UPI) Sex Sounds Rile Neighbors A note posted at a housing complex blasts loud lovemaking neighbors for "Oh God" exclamations confused by children and seniors for "religion or suicide."     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Pilots Warned of 70,000 Homing Pigeons  (Associated Press) Pilots Warned of 70,000 Homing Pigeons Airplane pilots have been advised to fly with special care after 70,000 homing pigeons were released to participate in a race back to their homes.     Bank Robber Who Stopped for Biscuits Gets Prison  (Associated Press) Bank Robber Who Stopped for Biscuits Gets Prison A man who was arrested for robbing a bank when he stopped to eat biscuits at a nearby restaurant will spend two to four years in prison.     Man Drives Himself to Station, Asks for DUI Arrest  (Associated Press) Man Drives Himself to Station, Asks for DUI Arrest A man drove under the influence of alcohol to a small-town police station, where he requested that officers arrest him.     66 Surfers Set Record for Most People Riding a Board at Once  (Associated Press) 66 Surfers Set Record for Most People Riding a Board at Once Surf champions and local heroes were among those who hung loose on a custom built, 42-foot board.     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