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Which leads to all kinds of creative accounting.  There's also public debt for private purposes -- another fun one.

Asdf is probably familiar with this, as Colorado is one of the more amusing offenders (and if you listen closely, all the way from Ohio you can still hear my former colleague shouting, "How can you report no fucking debt?!?!").

Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin

by Drew J Jones (myfriends@thisispancakes.com) on Tue Jul 20th, 2010 at 04:36:10 AM EST
[ Parent ]
Both the Euro's Stability and Growth (Suicide) Pact and Gordon Brown's onw fiscal "golden rule" have led to creative accounting over the past 10 years... PPP/PFI is the form of "public debt for private purposes" we like here in Europe...

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan
by Migeru (migeru at eurotrib dot com) on Tue Jul 20th, 2010 at 05:08:51 AM EST
[ Parent ]
At least for a given value of "we". And of "like".

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Wed Jul 21st, 2010 at 01:57:07 PM EST
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