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OBVIOUSLY, SOMEONE SHOULD BE PROSECUTED, LIKE WITH ENRON: U.S. National Debt Tops Debt Limit. ?The?

By Glenn Reynolds

OBVIOUSLY, SOMEONE SHOULD BE PROSECUTED, LIKE WITH ENRON: U.S. National Debt Tops Debt Limit. “The latest calculation of the National Debt as posted by the Treasury Department has – at least numerically – exceeded the statutory Debt Limit approved by Congress last February as part of the Recovery Act stimulus bill. The ceiling was set at $12.104 trillion dollars. The latest posting by Treasury shows the National Debt at nearly $12.135 trillion.”

But we can use “extraordinary accounting rules” to cook the books and borrow more. The country’s in the very best of hands.

And if the right-leaning public-interest law movement were as good as the left, it would be filing lawsuits to block spending, block borrowing, recapture funds, and, perhaps, claim fraud under qui tam statutes.

Full post as published by Instapundit.com on December 16, 2009 (boomark / email).