Accural method would show higher U.S. budget deficit


	Accural method would show higher U.S. budget deficit

wjbuntz

12-17-2007 11:22 AM

178 views

tags:

budget, deficit, usa, accrual method

Add a Comment

Login to Comment. Not a member yet? Sign up

Is McCain as fit to lead as his VP pick?

Factcheck: McCain tax ads "a pattern of de...

Obama: Running for president qualifies one...

You could be a conservatibe if...

Smart quotes from the Democratic Convention

Things I Learned Living on a Budget...contd

More clips from wjbuntz

Bird dog steps on gun, kills hunter

Men wheel out corpse in bid to cash check

What are you doing here? - man asks wife a...

Today's Top Clips

visit the Top Clips page

View the Top Clips from December 17, 2007

Embed This Clip In Your Site...

<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/7ff4aeb5-3a62-4c6b-bdff-d0fddd27f1d5/831B8E95-E48D-4355-A1A9-731B59723E80/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://news.yahoo.com/s/ap/20071217/ap_on_go_ot/budget_deficit" href="http://news.yahoo.com/s/ap/20071217/ap_on_go_ot/budget_deficit" style="font-size: 11px;">news.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap/20071217/ap_on_go_ot/budget_deficit">The <SPAN id="lw_1197905447_0" class="yshortcuts">federal budget deficit</SPAN> would have been 69 percent higher than the $162.8 billion reported two months ago if the government had used the same accounting methods as private companies, the Bush administration reported Monday.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap/20071217/ap_on_go_ot/budget_deficit">the deficit under the <SPAN id="lw_1197905447_1" class="yshortcuts">accrual method of accounting</SPAN> would have totaled $275.5 billion for the fiscal year ending Sept. 30.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap/20071217/ap_on_go_ot/budget_deficit"><P>The report was released by the <SPAN id="lw_1197905447_2" class="yshortcuts">Treasury Department</SPAN> and the president's Office of Management and Budget. Under the accrual method of accounting, expenses are recorded when they are incurred rather than when they are paid. That raises the costs for liabilities such as pensions and health insurance.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap/20071217/ap_on_go_ot/budget_deficit"><P>The $275.5 billion deficit under the accrual method of accounting was still down by 38.7 percent from the deficit under this accounting method the previous year, when it totaled $449.5 billion.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap/20071217/ap_on_go_ot/budget_deficit">The deficit on a cash-flow basis of $162.8 billion represented the lowest imbalance in five years.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/831B8E95-E48D-4355-A1A9-731B59723E80/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

Clipmarks: Home; New Clips; Top Clips; Dashboard

Popular Topics: News; Life; Science; Technology; Entertainment

Get Started: Sign Up; Install Clipping Tool; How Clipping Works; Clip-to-Blog™; ClipSearch

Tools and Resources: FAQ; ClipWeek; Top Clippers; Top Tags; Site Map

About Clipmarks: About Us; Contact; Blog; Copyright; Privacy; EULA

Search Options

Related Clips

More clips from wjbuntz

Today's Top Clips