Who did they think they were, Social Security Trust Fund administrators, where a $20 trillion unfunded liability is never put on the official accounting books, where the "trust fund" is filled with unmarketable government bonds, where a $100 billion annual increase in the liability (cash accounting, not accrual) to future retirees in what is called an off-budget government program is counted as income in the government's on-budget accounts, and is used to reduce the official debt in the Federal budget? The government must bring these miscreants to justice!
Thursday, 27 June 2002
Telling it like it is
From the always excellent Gary North, the best commentary on the guys at WorldCom: