Deficit Really $2.1 Trillion? – Washington Wire – WSJ


“Cash accounting is the money in your pocket or in your checking account. Accrual accounting is what’s on your credit card. America is refusing to count what’s on our credit card, and our credit card is totally maxed out,” said Mr. Cooper, a former corporate attorney who says he became interested in the topic after hearing a passing mention to the Treasury report. “They are using numbers that would send people to jail in the private sector.”

via Deficit Really $2.1 Trillion? – Washington Wire – WSJ.

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