TPS Posted August 7, 2006 Share Posted August 7, 2006 Interesting piece on how to correctly measure government deficits--accrual vs. cash accounting. If the government used accrual accounting, like all other entities do, they'd be forced to include future obligations incurred today--social security and medicare for example. The argument against it is that they are not "true obligations." The government has no binding contract to provide these benefit--they can be changed or elminated at any time. I'd support the accrual accounting because the government would then be forced to start answering the questions of how the current obligations will be paid? If not, what changes will be made? It's a lot easier to ignore the problem and let a future congress deal with it... Measuring deficits Link to comment Share on other sites More sharing options...
/dev/null Posted August 7, 2006 Share Posted August 7, 2006 Motherment has been cooking the books for so long i don't think anyone knows how bad it really is. And no politician has the balls to raise the issue Link to comment Share on other sites More sharing options...
GG Posted August 7, 2006 Share Posted August 7, 2006 An eerie sense of deja vu, all over again. Link to comment Share on other sites More sharing options...
Crap Throwing Monkey Posted August 7, 2006 Share Posted August 7, 2006 An eerie sense of deja vu, all over again. 737653[/snapback] What ever happened to Losman-McGahee-Evans, anyway? Quite the tool... Link to comment Share on other sites More sharing options...
GG Posted August 8, 2006 Share Posted August 8, 2006 What ever happened to Losman-McGahee-Evans, anyway? Quite the tool... 737694[/snapback] Not sure if he'll be starting... Link to comment Share on other sites More sharing options...
TPS Posted August 8, 2006 Author Share Posted August 8, 2006 Not sure if he'll be starting... 737702[/snapback] To his defense, it looks like he only focused on the SS crisis, not medicare. If that's the case, then it's a much smaller trillions of dollars crisis...... Link to comment Share on other sites More sharing options...
Alaska Darin Posted August 8, 2006 Share Posted August 8, 2006 To his defense, it looks like he only focused on the SS crisis, not medicare. If that's the case, then it's a much smaller trillions of dollars crisis...... 738035[/snapback] Ah, but there is no crisis. Nothing to see here. Sincerely, The Liberals. Link to comment Share on other sites More sharing options...
TPS Posted August 8, 2006 Author Share Posted August 8, 2006 Ah, but there is no crisis. Nothing to see here. Sincerely, The Liberals. 738334[/snapback] Damn! If only the republicans controlled Congress and the White House all would be fixed.... Link to comment Share on other sites More sharing options...
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