Comments on: Rules ‘hiding’ trillions in debt - Liability $516,348 per U.S. household

By: JM Bell

JM Bell — Thu, 31 May 2007 18:23:39 +0000

From what I understand about how much it cost just to heat that place, I think he’ll feel right at home there (if a little at a loss for want of brush to clear).

By: Todd

Todd — Thu, 31 May 2007 18:08:29 +0000

The way things are going it won’t be long before Bush calls Buckingham Palace asking if we can move back in.

By: JM Bell

JM Bell — Wed, 30 May 2007 05:35:27 +0000

OH SHIT! I forgot to blame Clinton!
My, oh, my, where is my head!?!

I get where you’re coming from, Andrea, but, if you’d reread the article, you can see how much worse it’s gotten in the last six years.

During Clinton, we had positive growth and a reduction in the debt. If Bush had left well enough alone, we’d be a lot closer to meeting our commitments.

Also, remember, that most of the “Clinton Years”, the Republicans ran the Congressional purse.

By: Andrea

Andrea — Wed, 30 May 2007 02:57:09 +0000

Actually, we never got rid of the DEBT during the Clinton administration. We got rid of the annual DEFICIT, but not the debt.

However, if the U.S. had been using “corporate style” accounting to account for pension liabilities back in the Clinton years, we would have had annual deficit as well.

So we can’t get rid of the debt AGAIN since we didn’t get rid of it in the first place (unless we go back several decades).

Btw, hiding trillions in pension liability is not new to the Bush administration. It’s been going on for a long, long time, even during the Clinton years.

By: Tom Grover

Tom Grover — Tue, 29 May 2007 20:59:06 +0000

Unbelievable.