Friday, August 04, 2006

You owe 3.8 Trillion...

Congress in its shady wisdom has its own accounting rules. This means they can tell you that the deficit isnt that big.

Using the standard rules, we are over 3.8 trillion in debt. Some debt is understandable in a country this big and with as many calls on the money that we have. The article is here.

Maybe this is another reason to change our tax structure. We can eliminate transfer payments and other items as well. I think states should be prohibited from taxing commerce and the US government should only tax commerce.

Just some random thoughts.

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