More in the Never-Ending Stream of Swill From National Review!

U.S. Fiscal Policy

From PGL of Angry Bear:

Angry Bear: Total Federal Debt Rose by More Than $550 Billion This Fiscal Year: Total Federal Debt (TFD) stood was just over $9 trillion as of 9/30/2007 as compared to $8.45 trillion as of 9/30/2006. The increase in TFD – which most folks would call the General Fund Deficit (GFD) – was $556.3 billion for the year.... Of course, the water carriers for this Administration prefer to talk about the Unified Deficit (UD), which is the increase in the debt held by the public (DHP). That increase was only $220.3 billion BECAUSE intra-government holdings (IGH) of debt rose by a staggering $336 billion over the fiscal years....

Since 2005... the unified deficit has been rising... [because of] increases in those Trust Fund surpluses...