Cooking The Books

The administration, concerned about the soaring deficit, may not include borrowed costs in the new budget. That's because officials view such costs as a prepayment on long-term Social Security obligations, much like paying off a 30-year mortgage early.

"By taking that off the books of the country for the longer term we're going to put U.S. fiscal policy in a much stronger position," said Treasury Secretary John Snow.

Story Link: Here

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Sticking your head in the sand and placing 2 TRILLION DOLLARS of debt in a "different" pile, does not change the fact that it A) has to be borrowed, and B) will incur interest penalties, and C) will have to be paid off by our children.

ENRON accounting doesn't work any better in the government.

Oh, and this small fact...IT DOESN'T FIX THE PROBLEM!!!!!

Just what is the future value (FV) of 2 Trillion dollars over 30 years at an interest rate equal to what is currently paid on US debt? Anyone, anyone...Bueller...anyone?

Is this what passes for conservatism now?