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Politics : Formerly About Advanced Micro Devices
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To: SilentZ who wrote (200328)9/5/2004 5:24:16 PM
From: i-node   of 1576160
 
Wrong. When a President or Congress says that there's a "surplus" or a "deficit," the interest on the debt is not taken into account.

I can't speak to misunderstandings or misuse of terminology by others. "Surplus" and "Deficit" are very specifically defined technical terms under pronouncements set out by GASB and they are all-ecompassing terms that include interest expense.

I can speak to the way the accumulated deficit (national debt) is computed. And it includes accrued interest payable. I refer you to the financial statements of the United States government and the accompanying notes to financial statements. And of every other governmental organization.
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