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

To: Steve Dietrich who wrote (495637)	7/16/2009 1:17:34 PM
From: i-node	Read Replies (2) \| Respond to of 1574190

>> Medicare is currently running a surplus. I've gone over this with RW until I can't do it anymore. Neither of you understands the basics of accrual accounting, it is clear. This is it. If you can't get it, I recommend you take a Principles of Accounting course. My children are paying Medicare taxes today that were, as the program was conceived, to be held in trust so that when they turn 65 those funds would be available to pay for their benefits. Those funds are being spent NOW and will not be available when my children turn 65. While there is a CASH surplus, there is a HUGE, $36 Trillion unfunded liability -- A DEFICIT. By any reasonable accounting standard, there is NO surplus. Which is the reason no private plan in the country is allowed to use cash basis accounting. Now, I've explained this the best that I can. If you don't understand it, it is because you lack any understanding of accrual accounting. Just as RW does. Maybe you and he should get together and study introductory accounting. This subject is normally covered in the first six chapters of any basic accounting text.