Rules 'hiding' trillions in debt

Liability $516,348 per U.S. household
By Dennis Cauchon, USA TODAY

The federal government recorded a $1.3 trillion loss last year -- far more than the official $248 billion deficit -- when corporate-style accounting standards are used, a USA TODAY analysis shows.

The loss reflects a continued deterioration in the finances of Social Security and government retirement programs for civil servants and military personnel. The loss -- equal to $11,434 per household -- is more than Americans paid in income taxes in 2006.