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

To: Steve Dietrich who wrote (476588)	4/30/2009 10:33:45 AM
From: i-node	1 Recommendation Read Replies (1) \| Respond to of 1573848

His unfunded liability over an infinite time horizon nonsense is just a conservative accounting gimmick to try and do what conservatives have been trying to do for 75 years now: Undo the New Deal. 1. Accrual accounting is not generally related to the concept of conservatism in accounting. Accrual accounting relates to the "matching" principle -- i.e., a period's expense should be matched with revenue of the same period. In this case we have a mere 30-50 year gap between the two. 2. FDR himself would want to undo the New Deal if he could see what it became. In fact, he was quite specific about it at the time, in his remark that if general fund revenue were ever needed to fund SS or Unemployment insurance, it would have been a failure. He was very specific that the funding should be limited to what the New Deal provided for. FDR's New Deal continues to be an absolute disaster, to this day. In every respect. There is almost nothing in the New Deal a person can point to and say, "Now, there's a success".