PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Peter Dierks who wrote (682215)	5/13/2005 6:29:40 PM
From: DuckTapeSunroof	Read Replies (1) of 769670

"debt as a percent of GDP ...has been falling." Er, no. (Certainly not on any year-over-year basis for any of the past four years.) "President Bush 43 is unlikely to go down as one of the more fiscally conservative office holders." LOL! Ya think? "Social Security and Medicare are unenumerated. As I said previously in one of our exchanges, if any corporation used retirement accounting like the federal government uses, they would be shut down." One hopes so.... "Corporations must fund the liabilities." (Still allowed to make rather unrealistic assumptions about the expected growth of their pension assets... thus delaying for a long, long time proper funding for those plans.) "The federal government's liabilities are not funded. One of President Bush's proposals is to recognise the liability and issue bonds for it." :) Exactly what is the effective difference between a special class Treasury bond credited to the SS administration, and a Treasury bond placed in the market by the federal government? The principal amount of the debt due (& the interest payments on it) are the same.... "The unfunded liabilities have accumulated with and without the PAYGO rules." True! But that's a long way from claiming that 'PAYGO caused unfunded liabilities' (re: "The debt is climbing more rapidly than most people realize because of the unenumerated liabilities caused by the PayGo system.").

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