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

To: SilentZ who wrote (544168)	1/15/2010 9:41:20 PM
From: i-node	Respond to of 1575154

>>> Of course it did. The 2009 fiscal year started in October 2008. And ran until September 2009 -- ALMOST ALL of the increase in deficit happened between Jan, 2009 and September 2009. In fact, the Jan-Sept period benefited from the repayments of TARP amounts that were expensed during the Bush period. As a result, GWB was "charged" with TARP deficits that were repaid MONTHS later and which, by virtue of a "convenient" change in accounting method were changed to "assets" after Obama took office. So, while GWB was charged with the expense, that money was changed to ASSET status after Bush left office. Not that there is anything wrong with it, but it had the effect of overstating Bush's portion of the FY'09 deficit without a corresponding effect on Obama's portion.