[wideminded]

If FairOpinion's graph from the CBO is correct, and XBob's table of debt figures is correct, that means we borrowed money even when we were taking in more than we were spending. Maybe someone could explain in more detail how this "Enron-style accounting" worked. Hopefully they didn't count the money we borrowed as income.

[Kozak]

I think it may have to do with all the "off budget" spending that "technically" doesn't show up in the deficit.

[XBob]

16 - "Maybe someone could explain in more detail how this "Enron-style accounting" worked. Hopefully they didn't count the money we borrowed as income."

That's exactly what they did.

Except that as the 'negotiable treasury bonds' expired, they borrowed the money from the Social Security surplus, and replaced them with non-negotiable 'IOU's.