>> If they are printing money, it doesn't add to the debt.
Yeah, good idea. While you're at it, let's tell General Motors not to worry about recording all that debt they've got. Let's just let them issue stock (i.e., "print money") when it is time to pay the debt.
In fact, let's eliminate the liability sections of ALL corporate balance sheets, because after all, we don't know HOW they're going to pay things off. They may issue stock ("print money"), some wealthy individual may pay it off for them, or, maybe they'll win the lottery. We don't know how they're going to pay these debts, so why bother with recording them at all?
Of course, what we're really talking about is, in large part, the difference between cash method accounting and accrual. While we don't allow any corporate pension plan to use cash method accounting (since doing so specifically overstates net assets of the plan), it is fine for Social Security, right?
Honestly, I don't know what the dems would do without a gullible and ignorant electorate.
(BTW - nevermind what printing $50 Trillion plus the $10 Trillion from Obama's socialism plan will do to the value of our currency).
Geez. Smart people around here. |
