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To: avacado

“You are aware that a budget is submitted and passed each year before the end of each fiscal year, right?”

Too well.

“You continue to have no clue as to the difference of budget debt, intergovernmental debt, and national debt.”

You continue to believe government numbers. I’m just pointing out that from an accounting perspective, those surpluses DID NOT EXIST.


185 posted on 12/08/2009 11:35:57 AM PST by Favor Center (Targets Up! Hold hard and favor center!)
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To: Favor Center
"You continue to believe government numbers. I’m just pointing out that from an accounting perspective, those surpluses DID NOT EXIST."

They exist in the budget transactions but not in the intergovernmental debt or overall national debt. That's what is confusing you.

The budget deficit/surplus is simply the accounting of receipts minus outlays. Receipts are: income taxes, corporate taxes, excise taxes, and custom duties. That's called federal revenue.

188 posted on 12/08/2009 11:47:27 AM PST by avacado
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