There you go confusing budget debt, intergovernmental debt, and national debt.
“There you go confusing budget debt, intergovernmental debt, and national debt.”
There you go confusing reality with what the government tells you. It doesn’t matter what Treasury defines as income. It doesn’t matter what Treasury defines as a deficit or surplus. What matters is whether or not it really IS a deficit or a surplus. It was a deficit in 2001. Spin it however you like.
I’m done, sonny. You are off in never-never land where economics doesn’t matter and ENRON-style accounting tricks are financial truth. Again, I don’t give a damn what they call it. I only care about what it actually IS.
“intergovernmental debt”
Oh, BTW... it’s “intragovernmental debt”. Intergovernmental debt is another thing entirely.