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talljasperman's avatar

What is the accounting maneuver used to continue after the U.S. hit the debt ceiling three weeks ago according to Global News?

Asked by talljasperman (16787 points ) July 18th, 2011

Global News aired today and claimed that the U.S. hit the debt ceiling three weeks ago and used an “accounting maneuver” to play with the deadline; What “accounting maneuver” was used?

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2 Answers

Nullo's avatar

I would guess that they’re shunting debt into side accounts, if that’s even possible.
I’ve also heard it said that a fairly large chunk of the national debt works out to inter-departmental loans and the like; if this is anything similar, someone might simply be clearing space as needed.
I don’t know for sure; I am a lousy accountant.

jrpowell's avatar

They could be using supplementals. It is how Bush spent all the money for two wars while never putting it in the budget.

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