Republicans are going to 'Cook the Books' on Social Secuirty & deficit

[Quetzal]

No harm in applying Enron style accounting on a National Level.

Republicans Finding Ways To Account For Overhaul

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.

<snip>

"We're entering the theater of the absurd, where you spend money, but it doesn't count, you borrow money, but you deny it," said Kent Conrad (N.D.), the ranking Democrat on the Senate Budget Committee. "Republicans are becoming further and further detached from reality."

To cope with the cost, while still helping the White House at least appear to be moving toward its goal of cutting the deficit in half by 2009, White House and congressional budget experts are looking at a variety of accounting mechanisms, said Michael Tanner, a Cato Institute Social Security expert who has worked closely with the White House.

more...

Republicans Finding Ways To Account For Overhaul

Free Registration Required

[Scooter24]

1. So from now on

whenever an article is written that cites the budget, they will have to include a footnote that says "Does not include the cost of social security"

It would just be easier for authors to write articles that combine the figures.

[Javaman]

2. Hmmm, the US gov't cook the books?

I find that soooooooooooooo hard to believe
>astronomically high sarcasm.

[Redleg]

3. Didn't Enron and Worldcom do these same fucking things?

Didn't our great leader chastise companies for doing this sleezy sneaky shit? That must have been for a photo op.

[xray s]

4. They won't fool the financial guys

The only ones who will get fooled are the rubes who trust the Republicans to help them.

The guys who make the real decisions will see right through it and clobber us hard. Inflation, high interest rates, unemployment. 1970's redux. Been there, done that.

[Yavin4]

5. Dude, If They Do This, We Are Done. WE ARE DONE

Um, memo to Republicans:

The rest of the world, the people who actually buy our debts and the money people here in this country, are not going to be fooled by this. In fact, if you hide debts, then people will stop loaning you money altogether. That's exactly what happened to Enron. EXACTLY!

Oh man...Oh man...You just cannot do that...You just can't...Oh My God...YOU CAN'T HIDE DEBTS!!!!

[Pachamama]

6. I love Sen Conrad of ND...1st he points out the tax return provision

in the Omnibus spending bill when it was up for vote on Saturday, and now he points out this...too bad all the dems can't be like him...

[high density]

7. So they want to trash everything, but don't want the numbers to

show that they're messing it up?

That sounds like the typical Republican way.

[struggle4progress]

8. kick for government of, by, and for corporate crooks

:kick: