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Actually, I'm not certain, but I think it can be traced back to ancient China.

The budget deficit is much more simple: The $250b deficit does not, I believe, include "emergency provisions" for Iraq and Afghanistan, which tend to run about $70-100b per year.  It also does not include borrowing from the Social Security surplus, which runs about $125-150b per year.  That borrowing from SSA is supposed to be paid back, not that it ever will be.  Adding all of that yields a deficit of $445b to $500b, which, not surprisingly, is roughly the amount by which the national debt increased, according to the Bureau of Public Debt.

The WSJ has been pulling this stunt for years.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Sun Oct 8th, 2006 at 08:09:27 AM EST
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