In a recent American Thinker article, "The Dollar's Inevitable Demise," author Vasko Kohlmayer compares the federal debt to the American economy, or GDP. Mr. Kohlmayer begins his article by correctly pegging GDP at "roughly $14 trillion." Then he trots out the "total public debt," which he puts at "nearly $13 trillion." That would mean the federal debt is currently equal to more than 92.8 percent of GDP.But one must understand that the "total public debt" figure cited consists of two parts: hard debt and soft debt. The hard debt is the real debt. And the soft debt consists of government "trust funds," like the social security trust fund. The soft debt is money we "owe" ourselves, not Japan and China.If one clicks on the link Kohlmayer provides, this is all broken down. The hard debt is the "Debt Held by the Public" and the soft debt is the "Intragovernmental Holdings." On the right is "Total...(Read Full Article)