Once again, show me this "surplus". Where is that money?
"“If we don’t deepen our ports all along the Gulf — places like Charleston, South Carolina; or Savannah, Georgia; or Jacksonville, Florida…” -Obama
Here's a post that explains your mistake. Don''t feel bad it is easy to believe what you MUST to keep your fantasy alive. It's a bitch to live in a dream world. Don't you at least find yourself wondering why you have to get all your info from right wing blogs?
Read more: Surplus Myth exposed again (generations, economic, national debt, money) - Democrats, Republicans, Libertarians, Conservatives, Liberals, Third Parties, Left-Wing, Right-Wing, Congress, President - Page 2 - City-Data ForumYou and Craig Steiner need a refresher course in government accounting. Receipts into any federal trust fund INCREASE the public debt, they do not reduce it. This is because the funds are immediately invested in Treasury securities so as to earn interest until obligated and expended, and any issuance of Treasury securities increases the public debt. When expended, Treasury securities are redeemed by the trust funds and the cash is used to fund the outlays authorized. This causes public debt to go down. Thus, an increase in debt associated with these trust funds is evidence of a SURPLUS of taxes and other receipts over expenditures made. You are trying to use one surplus to argue that another one didn't exist.
You and Steiner are hardly the only ones who are "confused" as to the actual relationship between debt and deficit. Many bogus right-wing articles try to pull the very same hoax. Just because the numbers they use are taken from valid sources does not mean that the numbers are being used correctly, and in these cases, they most definitely are not.
Bottom line is that the Clinton surpluses were quite real and there is nothing that can magically go back and erase them. Just as real were the ten-year budget projections of surplus upon surplus that Bushie walked in and destroyed in favor of his tax cuts for the rich programs that have served us so well since. Real and projected surpluses to god-awful real and projected deficits. This is the path that the right-wingers have walked us down. Nice going, guys.
Last edited by iguanaman; 10-04-13 at 11:37 AM.