Republicans: More Devious Than I Ever Imagined

The Washington Post has the story:
Republican budget writers say they may have found a way to cut the federal deficit even if they borrow hundreds of billions more to overhaul the Social Security system: Don't count all that new borrowing.

As they lay the groundwork for what will probably be a controversial fight over Social Security, Republican lawmakers and the Bush administration are examining a number of accounting strategies that would allow the expensive transition to a partially privatized Social Security system without -- at least on paper -- expanding the country's record annual budget deficits. The strategies include, for example, moving the costs of Social Security reform "off-budget" so they are not counted against the government's yearly shortfall.

(link thanks to &etc.)

If this strategy works I think it will only be the beginning. If they can get away with borrowing without counting it as part of our debt, what won't/couldn't they do from disguising the consequences of their ill-concieved policies?