Need to parse!
I don’t know.
Does the $14 trillion federal debt include the value of all the social security funding that has been diverted to the current spending account, all of the IOU’s that are held by the SS administration against the Federal Government???
Now, we all know that whenever there is less SS tax collected than is disbursed, the SS fund needs to cash in one of its many IOU’s, asking for cash that the FED doesn’t have. And Zer0, the rats and the pubbies have even succumbed to rape current SS inflows by collecting less SS taxes in 2011 for some idiotic program to add $10 dollars to the non income tax-payers net payroll check.
So, does this immediate SS payout cash need increase the Federal deficit? Or is it an intergovernmental transaction that is met by speeding up the Department of Engraving printing presses??
In any event, cash needs to be provided from somewhere, ‘cause there ain’t no lockbox; there ain’t no Federal cash sitting in Ft. Knox; we’re borrowing 40% of the Federal expenditures from somewhere, so somehow the payout of SS is impacting cash flow, regardless of Obamanaomics, Goreisms, or Bushites.
Which of you can help to explain Governmental accounting??
Which of you can help to explain Governmental accounting??
I liken it to MOB accounting or trucking accounting, or illegal accounting. There is a whole lot of accounting going on but it takes twice as long as legal accounting, because one has to have two sets of books. One set for the regulators and auditors, and another set so you know who has done what with the cash, or in the case of truckers, with the time. With all respect to truckers, who in many cases, have been driven to it (no pun intended) by the whim of government. It boils down to this, everyone knows where the cash is or what it is spent on, they just can’t tell the ones coming up with the cash, or there would be hell to pay.
Hopefully now the second set of books are open and there will now be hell to pay.