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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction
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To: rich evans who wrote (65829)4/30/2008 7:09:36 PM
From: TimF  Read Replies (2) of 90947
 
Yes future liabilities, may be as big of concern as actual debt, but they aren't really debt.

The fact that at some point I am going to have to replace my car, or spend money to fix up my house, doesn't mean that I owe that money now, and if I set up a separate savings account to save for such future expenses, and than I "borrow" from this savings account to fund a vacation or a big screen TV, the "borrowing" doesn't represent a real debt, and the "loan" from the savings account doesn't represent a real asset (or alternatively you can see both as real, but than they cancel each other out and your still left with zero).
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