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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (200296)	9/5/2004 4:39:21 PM
From: SilentZ	Read Replies (1) \| Respond to of 1575738

>Wrong. Interest is an expense just like other operating expenses. It increases any deficit. The fact is that if the national debt increases during a year, there was, de facto, a deficit. This is basic governmental accounting. 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. -Z

To: i-node who wrote (200296)	9/5/2004 9:45:13 PM
From: tejek	Read Replies (1) \| Respond to of 1575738

Second, I'd guess that the reason that the debt would go up despite an operating surplus would be because of interest on the existing debt. Wrong. Interest is an expense just like other operating expenses. It increases any deficit. The fact is that if the national debt increases during a year, there was, de facto, a deficit. This is basic governmental accounting. He's talking about the debt, not the [budget] deficits......don't you know the difference. I thought you were a CPA.....did you lie about that too? BTW where's that link?