How the Republicans tore down our country

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32. you are counting them as a liability but not as an asset. that is a complete fraud.

if the government owes more money to some entity OUTSIDE the government, then yes, it owes money, and it is correct to count it as a liability because it is an asset on someone else's books.

but in this case the government owes the money to itself. you can't count that as a liability but ignore it as an asset.

you either ignore it entirely or you count it as both.

you can't look at one side of a coin and pretend the other side doesn't exist.