ENRON Accounting, Now In New Government Flavor
Story Link Here
Republicans Finding Ways To Account For Overhaul
Social Security Change Expensive in Short Term
By Jonathan Weisman, Washington Post Staff Writer
Tuesday, November 23, 2004; Page E01
Republican budget writers say they may have found a way to cut the federal deficit even if they borrow hundreds of billions more to overhaul the Social Security system: Don't count all that new borrowing.
As they lay the groundwork for what will probably be a controversial fight over Social Security, Republican lawmakers and the Bush administration are examining a number of accounting strategies that would allow the expensive transition to a partially privatized Social Security system without -- at least on paper -- expanding the country's record annual budget deficits. The strategies include, for example, moving the costs of Social Security reform "off-budget" so they are not counted against the government's yearly shortfall.
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Okay, let me get this straight. In order to hide the fact that it will cost BILLIONS if not TRILLIONS to overhaul Social Security we are going to change accounting rules so we can bury our collective heads in the sand? Isn't this how ENRON got in trouble? Aren't there companies being investigated for doing exactly this sort of shenanigans?
This is "bottom line" thinking at its absolute worst. Seriously, we are trying to change the "prospectus" to keep the stock price artificially high. The only problem is THIS "prospectus" is the financial health of our country. This is what happens when you let corporate thinking run the government; bad corporate thinking at that!
What part of the smoke and mirrors are you not getting? What part of the continual slight-of-hand are you missing? For the last four years we have been robbing Peter to pay Paul (forget the fact that Paul is the rich guy in this scenario) and this past election has only emboldened the short-term, bottom line thinkers even more.
This is the "NEO-CON Mind Trick" combined with the Hitchhiker's Guide to the Galaxy's "Somebody Else's Problem Field" at work.
NEO-CON: "There is no cost to our plan. Just look, the deficit did not increase!"
RED STATE CLONES: "There is no cost to your plan."
BLUE STATE JEDI: "WTF!!!?"
Wake up America, the same mentality that allows CEO's to walk away with millions while their workers walk away with pink slips is now controlling your government.
NEO-CON Mantra: Me, Mine and the Bottom Line
Story Link Here
Republicans Finding Ways To Account For Overhaul
Social Security Change Expensive in Short Term
By Jonathan Weisman, Washington Post Staff Writer
Tuesday, November 23, 2004; Page E01
Republican budget writers say they may have found a way to cut the federal deficit even if they borrow hundreds of billions more to overhaul the Social Security system: Don't count all that new borrowing.
As they lay the groundwork for what will probably be a controversial fight over Social Security, Republican lawmakers and the Bush administration are examining a number of accounting strategies that would allow the expensive transition to a partially privatized Social Security system without -- at least on paper -- expanding the country's record annual budget deficits. The strategies include, for example, moving the costs of Social Security reform "off-budget" so they are not counted against the government's yearly shortfall.
-----
Okay, let me get this straight. In order to hide the fact that it will cost BILLIONS if not TRILLIONS to overhaul Social Security we are going to change accounting rules so we can bury our collective heads in the sand? Isn't this how ENRON got in trouble? Aren't there companies being investigated for doing exactly this sort of shenanigans?
This is "bottom line" thinking at its absolute worst. Seriously, we are trying to change the "prospectus" to keep the stock price artificially high. The only problem is THIS "prospectus" is the financial health of our country. This is what happens when you let corporate thinking run the government; bad corporate thinking at that!
What part of the smoke and mirrors are you not getting? What part of the continual slight-of-hand are you missing? For the last four years we have been robbing Peter to pay Paul (forget the fact that Paul is the rich guy in this scenario) and this past election has only emboldened the short-term, bottom line thinkers even more.
This is the "NEO-CON Mind Trick" combined with the Hitchhiker's Guide to the Galaxy's "Somebody Else's Problem Field" at work.
NEO-CON: "There is no cost to our plan. Just look, the deficit did not increase!"
RED STATE CLONES: "There is no cost to your plan."
BLUE STATE JEDI: "WTF!!!?"
Wake up America, the same mentality that allows CEO's to walk away with millions while their workers walk away with pink slips is now controlling your government.
NEO-CON Mantra: Me, Mine and the Bottom Line
posted by Mike at 10:19 AM
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