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Thread: On road to surplus, U.S. detoured into debt

  1. #51
    Educator shintao's Avatar
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    Re: On road to surplus, U.S. detoured into debt

    Quote Originally Posted by Harry Guerrilla View Post
    To be fair, a large part of Clinton's "surplus" came from a surplus in SS revenue that was moved to the general fund.
    SEE: (p.3, Table 1). I just read that even without SS the Clinton budget would have reached 0.

    http://www.kansascityfed.org/PUBLICA...9/1q89garn.pdf
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    Re: On road to surplus, U.S. detoured into debt

    Quote Originally Posted by megaprogman View Post
    Actually I didn't notice your post.

    Lets see.

    Hrm, your point does not address any raised in the article, so
    pussy


  3. #53
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    Re: On road to surplus, U.S. detoured into debt

    Quote Originally Posted by shintao View Post
    SEE: (p.3, Table 1). I just read that even without SS the Clinton budget would have reached 0.

    http://www.kansascityfed.org/PUBLICA...9/1q89garn.pdf
    So it wasn't really a surplus.
    You have to make up that spent revenue somewhere and at some time in the future.
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    Re: On road to surplus, U.S. detoured into debt

    Quote Originally Posted by pzycho View Post
    pussy

    You are what you eat.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Educator shintao's Avatar
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    Re: On road to surplus, U.S. detoured into debt

    Quote Originally Posted by Harry Guerrilla View Post
    So it wasn't really a surplus.
    You have to make up that spent revenue somewhere and at some time in the future.
    Here is the quote.

    Clinton's large budget surpluses also owe much to the Social Security tax on payrolls. Social Security taxes now bring in more than the cost of current benefits, and the "Social Security surplus" makes the total deficit or surplus figures look better than they would if Social Security wasn't counted. But even if we remove Social Security from the equation, there was a surplus of $1.9 billion in fiscal 1999 and $86.4 billion in fiscal 2000. So any way you count it, the federal budget was balanced and the deficit was erased, if only for a while.

    FactCheck.org: During the Clinton administration was the federal budget balanced? Was the federal deficit erased?
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    Re: On road to surplus, U.S. detoured into debt

    Quote Originally Posted by shintao View Post
    Here is the quote.

    Clinton's large budget surpluses also owe much to the Social Security tax on payrolls. Social Security taxes now bring in more than the cost of current benefits, and the "Social Security surplus" makes the total deficit or surplus figures look better than they would if Social Security wasn't counted. But even if we remove Social Security from the equation, there was a surplus of $1.9 billion in fiscal 1999 and $86.4 billion in fiscal 2000. So any way you count it, the federal budget was balanced and the deficit was erased, if only for a while.

    FactCheck.org: During the Clinton administration was the federal budget balanced? Was the federal deficit erased?
    And while that may be true, you still have to make up for future outlays that the money was supposed to directed towards, aka future Social Security obligations.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: On road to surplus, U.S. detoured into debt

    Quote Originally Posted by xpiher View Post
    theres too many loop holes in the tax code
    and immelt is the man barack the slasher selects as JOBS CZAR

    good job, CHARLIE!

    There is a revenue and a spending problem
    First Read - Obama signs tax cut bill into law

    Fixing the spending problem can be largely done through cuts in defense spending, ending both wars, and letting the stimulus just end
    Fiscal Commission Co-Chairs Simpson And Bowles Release Eye-Popping Recommendations | TPMDC

    Most businesses have moved over seas to save on labor cost
    and immelt is the person the slasher selects to be JOBS CZAR

    a MAJOR SHIFT in the culture i.e. willing to work for pennies
    One Million Apply for 60,000 McDonalds Jobs

    Why do you assume that Obama has any influence over the legislature?
    he's head of the party, silly

    ask the dozens of bluedogs voted outta office on tsunami tuesday

    Its going to work
    tell it to tester in montana, nelson in nebraska, whoever runs for budget chair conrad's seat in dakota, nelson in florida, kaine in virginia, whoever tries for bingaman's in new mexico, mccaskill in missouri, manchin in west virginia, brown in ohio, casey in pennsylvania, kohl in wisonsin...

    Tougher road ahead for Senate Dems - Shira Toeplitz - POLITICO.com

    Harry Reid lets 2012 Democrats off the hook - Manu Raju - POLITICO.com

    Charlie Cook of the Cook Report Sees Grim Future for Democrats in Senate in 2012 and 2014
    Last edited by The Prof; 05-01-11 at 06:09 PM.

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    Re: On road to surplus, U.S. detoured into debt

    Quote Originally Posted by megaprogman View Post
    the point is still that we are missing a ton of revenue because of the tax cuts
    in my opinion, this is as valid a point as any other

    but until budget chair kent conrad actually PRODUCES something, it's nothing more than the express wish of another anonymous poster

    ie, not worth much in a world wanting answers

    why do you think hurryup harry won't write up the slasher's tax-the-rich rhetoric?

    he's had 700 days, y'know

    it's harry's move, you should really be talking to him

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    Re: On road to surplus, U.S. detoured into debt

    Quote Originally Posted by megaprogman View Post
    and thats fine. However, the article clearly states that revenues have dropped more than spending has gone up.

    I will requote
    One problem is that most of Bush's tax cuts, particularly the income tax cuts, were not actually in effect when we saw the largest decrease in revenue and your own source acknowledges the decrease must also considered in light of economic conditions. Given my first point it seems more appropriate to say that the decline in revenue was mostly driven by economic conditions.
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  10. #60
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    Re: On road to surplus, U.S. detoured into debt

    Quote Originally Posted by Demon of Light View Post
    One problem is that most of Bush's tax cuts, particularly the income tax cuts, were not actually in effect when we saw the largest decrease in revenue and your own source acknowledges the decrease must also considered in light of economic conditions. Given my first point it seems more appropriate to say that the decline in revenue was mostly driven by economic conditions.
    I agree, economic conditions have certainly had an effect in recent years.

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