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To: chessplayer
The debt is rising faster than the reported deficit because of the government "fund" accounting trickery. The government needs to take the following actions:

Split the government budget into true funds- disclose the numbers to the public using Generally Accepted Government accounting principals (like all the states):

Ban federal funds from buying treasuries. Limit the amount of private investment. Investment board nonpolitical.

The general fund needs to be balanced;

* Stop paying interest payments on treasuries held by federal funds, this would eliminate the general deficit by approximately 40%;

* Federal government out of the secondary education and welfare business- move to the states.

Privatize over time social security. SSA will forgive any bonds it holds after private system is solvent;

Stop paying interest payments on treasuries held by federal funds;

Use true "manciple" bond systems for other federal funds like transportation, airports, etc.

21 posted on 12/03/2007 6:46:34 AM PST by 11th Commandment
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To: 11th Commandment
* Stop paying interest payments on treasuries held by federal funds, this would eliminate the general deficit by approximately 40%;

This wouldn't change a thing. We'd still pay the same benefits, doesn't matter if the funds get shortchanged or not.

35 posted on 12/03/2007 3:33:45 PM PST by Toddsterpatriot (What came first, the bad math or the goldbuggery?)
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