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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: jttmab who wrote (51118)	6/26/2005 8:01:35 PM
From: bearshark	Read Replies (1) \| Respond to of 173976

>>>Agreed with one minor change...delete: "if it is needed."<<< Agreed. I see no time when it will not be needed. >>>The current definition of balanced budget is what's left after revenue collected - funds spent.<<< Agreed. That's fine. I think the only thing that would change in my calculation is my use of the FY 1999 Postal Service deficit. >>>Re: Treasury subsidizes.... Another case of how we like to perceive things. They sell treasuries, the people>>>>foreign governments that purchase those treasuries are the ones that are subsidizing. The Treasury is just a money laundering organization.<<< My oversight. Our "friends" in Asia are collecting a good bit of our debt and subsidizing our various adventures. >>> think the reality is that the Treasury sells treasuries. If there is a "surplus", they sell less treasuries then the amount of treasuries that are paid out, thus retiring some debt. I use the word "reality" somewhat loosely when talking about Federal budgets.<<< I think we may both be wrong here. It may be that public debt (and real retirement) is only reduced when the surplus is so large (probably never again) that the public debt is actually reduced for a fiscal year. >>>...that's why we point to public debt and not national debt.<<< Yep, I erred again. Public not national. >>>I think they only show the interest on the public debt, but not the interest on the intragovernmental debt.<<< I started to look at the government's accounting rules and then I realized I am still too young to be that nutty. So, I stopped. >>>Did you see that the Japanese are interested in dumping Treasuries as soon as the US dollar can take it?<<< Was that recent? I know China threatened it.