I wish this was more unbelievable, but it's not. Instead, this is just laughably moronic, but I have grown to accept that most forms of general/mainstream/old media have a poor understanding of, well, almost everything. Of course, Ritholtz nails it like always. If I was delusional enough to only count gains and not losses, I'd be broke many times over. And I would have paid more taxes!
Let's make this simple. The US government has not now, and never will 'profit' from the numerous bailouts doled out in the last year-and-a-half. No clever bookkeeping can ever change that. However, we could always have the government file for Chapter 11. That would be a strange loop for the ages.