money.cnn.com— You're about to hear that the budget deficit is falling. Don't believe it, warns Fortune's Allan Sloan. The deficit is much, much bigger than you think.
Sep 5, 2007View in Crawl 4
If this is fuzzy Bush math, and this is general Washington accepted accounting practice for a long time, doesn't this mean that previous administrations engaged in fuzzy Kennedy/Johnson/Nixon/Ford/Carter/Reagan/Bush/Clinton math?Why single out the Bush administration for something that previous administrations have been guilty of also?Wouldn't this mean that Clinton's vaunted budget surpluses are illusory also, and that US government might actually have been in deficit during the Clinton years?
If I understand correctly, the national debt (closing in on 9 trillion) is over 10 times larger than the amount of dollars actually in circulation (706 bln in 2005, most of it held overseas). And as all new money is issued as more debt to the fed, I don't see how it is possible for the US govt to actually repay the debt.
Not even Tim Burton, Ed Wood, Mel Gibson, Woody Allen, Roman Polanski COMBINEDcould f**k UP a movie so bad as what the last 7+ years of reality have been.
epwait55Sep 5, 2007
Thank you really interesting
philipl411Sep 6, 2007
Why are libs such losers? Clinton did the exact same thing. so has every other Pres in modern history
diggerineSep 6, 2007
If this is fuzzy Bush math, and this is general Washington accepted accounting practice for a long time, doesn't this mean that previous administrations engaged in fuzzy Kennedy/Johnson/Nixon/Ford/Carter/Reagan/Bush/Clinton math?Why single out the Bush administration for something that previous administrations have been guilty of also?Wouldn't this mean that Clinton's vaunted budget surpluses are illusory also, and that US government might actually have been in deficit during the Clinton years?
e68895fSep 6, 2007
Ah yes, the "every body's doing it" excuse not to change things for the better...
rune420Sep 6, 2007
If I understand correctly, the national debt (closing in on 9 trillion) is over 10 times larger than the amount of dollars actually in circulation (706 bln in 2005, most of it held overseas). And as all new money is issued as more debt to the fed, I don't see how it is possible for the US govt to actually repay the debt.
nodnarb74Sep 8, 2007
That is funny because the same thing happen to me except I imagined I was standing behind a grassy knoll.
tmcdiggSep 8, 2007
Not even Tim Burton, Ed Wood, Mel Gibson, Woody Allen, Roman Polanski COMBINEDcould f**k UP a movie so bad as what the last 7+ years of reality have been.