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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (329070)3/15/2007 4:40:07 PM
From: TimF   of 1575625
 
I don't agree with the statements

"No, it's not. It's deceptive"

in the context of my statement - "The current headline number is also important data."

It can be used in deceptive ways, but it isn't inherently deceptive, and it is indeed important data. It shows how much the government spends vs. how much it recieves.

Now if you take that data, and present it as if it explained everything, and meant that we didn't have to worry about other obligations not mentioned in the primary/seperate budget, then you would be using it in a deceptive way.

---

"...Whether one focuses on the unified budget or on the budget excluding social security receipts and expenditures depends on the question one is asking. If the government runs a $100 billion deficit from federal fund receipts and outlays and a $100 billion surplus from trust fund receipts and outlays, then the total amount of borrowing it needs to undertake from private or foreign lenders as a result of those operations is zero. The total interest payments for which it must find a source of revenue in the current year as a result of these fiscal operations is also zero. Thus, if one's focus is on the impact of federal borrowing on capital markets, the feasibility of raising those funds on capital markets, or the difficulty the Treasury may face in finding a source of revenue with which to make interest payments-- and such issues are precisely the focus of Bernanke's remarks-- the correct measures to use for the discussion are the net federal debt and the unified federal deficit..."

econbrowser.com
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