Friday, July 26, 2013

Cooking the books

I will no longer post about the country's national debt. That number, as reported by the treasury, is no longer accurate. According to the US treasury, the national debt has remained the same (it is actually about $700 million lower) since May 31, at $16.738 trillion. Are you telling me that the Federal government has not spent any money in the past two months?
The books are either being cooked by changing accounting methods in a way that would have a private sector accountant thrown in jail, or the government is monetizing the debt like nobody's business, meaning that inflation, and lots of it, is on the horizon.
Either way, those figures are now meaningless.

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