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Thread: Govt. borrows 46 cents of every dollar it spends

  1. #101
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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by ecofarm View Post
    <sigh> if bubbles were surplus...
    ... but they aren't. They're just "irrational exuberance."

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by Moot View Post
    I never mentioned Clinton either and yet here we are. So what are you trying to say, that Clinton was responsible for Bush debt? Do you think Obama's debt would be as high now if he had inherited Clinton's debt and budget surplus instead of Bush's debt and policies? Because I sure don't. In fact, I don't think we would have even had a 9/11 if Gore had been elected. <sigh> if wishes were fishes....
    There was no Clinton "surplus"

    That's a myth. Money from Social Security was used to pay down the Public Debt. Not the National Debt. Clinton had deficits every year he was in office.

    Clinton also admitted he raised taxes too high. His increased taxes hurt economic growth.

    Even the NYT reported yet they've laughably taken down the story since it no longer fits in with their narrative

    http://www.nytimes.com/eyeblaster/addineyeV2.html

    Taxes Under Clinton? - YouTube

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by H. Lee White View Post
    54% = almost everything?
    46% of what the governmet does comes from borrowing.
    reduced revenue + increased spending = borrowing.

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by Moot View Post
    reduced revenue + increased spending = borrowing.
    Irrelevant to what I said.
    Contrary to your claim, almost half of what the government does comes form borrowing.

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by Moot View Post
    reduced revenue + increased spending = borrowing.
    It also helps to print more money in order to make ends meet, which the Feds are doing.

  6. #106
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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by Bronson View Post
    There was no Clinton "surplus"

    That's a myth. Money from Social Security was used to pay down the Public Debt. Not the National Debt. Clinton had deficits every year he was in office.

    Clinton also admitted he raised taxes too high. His increased taxes hurt economic growth.

    Even the NYT reported yet they've laughably taken down the story since it no longer fits in with their narrative

    http://www.nytimes.com/eyeblaster/addineyeV2.html

    Taxes Under Clinton? - YouTube
    People often confuse budget deficit with national debt, but yes Bronson, there was indeed a "budget surplus" when Clinton left office precisely because he had raised taxes and reduced military spending.


    President Clinton announces another record budget surplus - CNN


    " When spending exceeds income, the result is a budget deficit, which must be financed by borrowing money and paying interest on the borrowed funds, much like an individual spending more than he can afford and carrying a balance on a credit card. A balanced budget occurs when spending equals income. The U.S. government has only had a budget surplus in a few years since 1950. The Clinton administration (1993-2001) famously cured a large budget deficit and created a surplus in the late 1990s.
    Read more: Budget Surplus Definition | Investopedia

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by Grant View Post
    It also helps to print more money in order to make ends meet, which the Feds are doing.
    QE3....and this time the Feds are going to keep doing it until the economy is stronger...even if it a couple of years....according to Bernake.

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by Moot View Post
    People often confuse budget deficit with national debt, but yes Bronson, there was indeed a "budget surplus" when Clinton left office precisely because he had raised taxes and reduced military spending.
    This is true for 2 years, totalled under $90B, and was not when he left office.

    FY Revenue Outlay Deficit/surplus
    1992 1,091.2 1,381.5 -340.4
    1993 1,154.3 1,409.4 -300.4
    1994 1,258.6 1,461.8 -258.8
    1995 1,351.8 1,515.7 -226.4
    1996 1,453.1 1,560.5 -174.0
    1997 1,579.2 1,601.1 -103.2
    1998 1,721.7 1,652.5 -29.9
    1999 1,827.5 1,701.8 1.9
    2000 2,025.2 1,789.0 86.4
    2001 1,991.1 1,862.8 -32.4

    http://www.google.com/url?sa=t&rct=j...54675689,d.aWc
    Last edited by H. Lee White; 12-11-12 at 02:34 PM.

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by H. Lee White View Post
    This is true for 2 years, totalled under $90B, and was not when he left office.

    FY Revenue Outlay deficif/surplus
    1992 1,091.2 1,381.5 -340.4
    1993 1,154.3 1,409.4 -300.4
    1994 1,258.6 1,461.8 -258.8
    1995 1,351.8 1,515.7 -226.4
    1996 1,453.1 1,560.5 -174.0
    1997 1,579.2 1,601.1 -103.2
    1998 1,721.7 1,652.5 -29.9
    1999 1,827.5 1,701.8 1.9
    2000 2,025.2 1,789.0 86.4
    2001 1,991.1 1,862.8 -32.4
    Yup, there it is, a budget surplus and you even bolded it.

    1999 1,827.5 1,701.8 1.9
    2000 2,025.2 1,789.0 86.4

    Clinton left office in January 2001. So yes Bronson, there was indeed a budget surplus when he left office.

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by Moot View Post
    Yup, there it is, a budget surplus and you even bolded it.

    1999 1,827.5 1,701.8 1.9
    2000 2,025.2 1,789.0 86.4

    Clinton left office in January 2001. So yes Bronson, there was indeed a budget surplus when he left office.
    FY2001 was his budget.

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