FYI, news you didn’t know
Have a nice day.
Remember, I do this to entertain me, not you.
Uncle Pays the Bills
 |
|
Find Local
|
Categories
- ATF (769)
- Death Match (10)
- Eminent Domain (225)
- In the bag (9)
- Notes to Junior (546)
- Poker (74)
- Recipes (142)
- Shotgun Noob (11)
- The Airing of Grievances (19)
- uncategorized (47,725)
May 29th, 2007 at 11:31 am
In other news, USA Today says what I’ve been saying for a while.
May 29th, 2007 at 11:32 am
Sadly, though, they don’t seem to know the difference between debt and deficit.
May 29th, 2007 at 12:02 pm
Debt, deficit, who cares? When you can print money at will neither word has much meaning.
Until inflation becomes so bad the .gov has to stop printing money. But by then we all are way past screwed. What I don’t understand is that some people are willy nilly over Global Warming but don’t understand that a real Sword of Damocles is hanging over our heads. It is called Medicare/Social Insecurity.
I worry about being old and not being able to have both medicine and air conditioning. Ironically Medicare may be the balloon note that bankrupts the World. But Al Gore will find a solution. He always does. There must be a way we can tax ourselves out of this mess. /extreme sarcasm>
May 29th, 2007 at 12:38 pm
From the linked article:
I really have nothing to add to that.
May 29th, 2007 at 12:42 pm
“That sucking sound”
May 29th, 2007 at 12:58 pm
Debt is money you have borrowed, and are more-than-likely making payments on?
Deficit is the shortage between what one takes in as income and what one spends?
You touched on this before, but did not wish to elaborate. Doesn’t the Federal government take on additional debt to cover the all of the deficit, the difference between what they get via taxes and seizures and what they spend? Auction off T-bills and other such thingys?
May 29th, 2007 at 1:32 pm
They sell debt on the market. Some people seem to think that just because there’s a shortfall (which isn’t even based on cash expenditures – i.e., the liability for SS doesn’t mean they actually spent the money) that debt automagically appears.
May 29th, 2007 at 2:06 pm
Deficit is the money that they won’t have if they continue to pay out at the level that’s currently set? But they could always cut payments or tax a higher rate?
May 29th, 2007 at 2:07 pm
deficit is not money. A deficit occurs when expenses exceed revenues.
May 29th, 2007 at 2:08 pm
Oh, OK, they don’t have to sell t-bills to fund my retirement SS checks, at least not yet, and they could always legislate those “entitlements” away anyway..
May 29th, 2007 at 4:39 pm
This is an accrual vs. cash thing, right? You know, the
one thingbiggest thing that people hate about accountants?