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

To: Road Walker who wrote (515919)	9/24/2009 9:44:55 AM
From: i-node	Respond to of 1578967

Sure I do. Accrual is what wingnuts use to make SS look much worse than it is. Accrual is that basis that every public company is required to use because it is the required to clearly reflect financial results. BTW I owe about $125K in unfunded liability because that's what I figure it will cost me to eat until my actuarially predicted death date. Also about $26K in unfunded gasoline liability. Don't even want to think about unfunded housing liability... time for bankruptcy. Think the court would accept this logic my friend? I appreciate the humor -- but it does reflect your misunderstanding of the concept. You don't have an "unfunded food liability" because you have done nothing [yet] to EARN the food. You don't have an "unfunded gasoline liability" because you haven't driven the miles. And you don't have an "unfunded housing liability" because housing costs are expensed with the passage of time. These all differ from Medicare and SS because the liability to fund the benefits for future beneficiaries has already been earned, can reasonably be determined, and will have to be paid at a future date. With certainty. This is typical of a person who doesn't understand accounting concepts. You know that "accrual" accounting books liabilities now, but you really don't understand why nor do you comprehend the nuances of various categories of expenditures. Now, I've explained this to you in the best way I can. I have no illusion about you understanding it. You don't. You won't.

To: Road Walker who wrote (515919)	9/24/2009 11:17:06 AM
From: bentway	1 Recommendation Read Replies (1) \| Respond to of 1578967

Me too John! My "unfunded liabilities" are CRUSHING. I wonder what Dave's are? No doubt, he's already pre-paid all HIS.