But in many ways the proposal is a deceit, for the net indebtedness of the government still rises.

ECONOMIST: Rescuing Japanese banks

If only we didn't buy so much more from Germany, China and Norway than we sell to them (curses), the massive net indebtedness of our economy might actually start to reduce a bit.

BBC: Does US election matter to us?

America's net indebtedness is a perfectly affordable 65% of GDP, and throughout the past three years of recession and tepid recovery investors have been more than happy to go on lending to the federal government.

ECONOMIST: America's debt

This rule can apply where there is a relatively greater amount of indebtedness in the U.S. than offshore, and net interest expense exceeds a specified percentage of adjusted taxable income.

FORBES: Territorial Tax Proposal Provides a Look into the Future of Corporate Taxation

Another provision would disallow a portion of net interest expense to the extent a domestic company is considered as having excess domestic indebtedness.

FORBES: Territorial Tax Proposal Provides a Look into the Future of Corporate Taxation

The Company intends to use the net proceeds of the offering, along with cash on hand, primarily to repay outstanding indebtedness.

FORBES: West Corporation Announces Launch of $500 Million Initial Public Offering