Campbell
Banned
- Joined
- Jan 8, 2013
- Messages
- 2,138
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- Location
- East Tennessee
- Gender
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- Political Leaning
- Liberal
I've heard all the standard malarkey about Clinton borrowing from social security, about him not having a surplus and all the other convenient bold faced lies told by jealous Republicans. If Bush had let the surpluses continue to buy back debt the way Clinton had been doing during his last three fiscal years the debt was scheduled to be completely paid down and clear by 2012. What was the first thing Bush did? Two tax cuts, 2001 and 2003 using reconciliation to block opposition from the Democrats and Voila!! Surpluses gone. Then the crazy guy started two unfunded wars and because he didn't want to admit the tax cuts were a huge mistake he never raised the rates back and proceeded to double Reagan and his daddy's debt from $5.7 trillion to nearly $12 trillion. It's tax cuts for the wealthy which made a disaster of our national debt.
Since Al Gore was wrapped up in the Clinton surpluses you can bet your bippy he would have not cut tax rates for the wealthy. He wouldn't have invaded Iraq either.
There is no social security trust fund, no lock box. All tax revenue goes into the general fund and then congress, starting in the house, spends it as they see fit. They do account for social security deposits and when they spend them, they issue bonds which if you talk to a congressman, are backed by the "good faith and credit of the United States." I don't know how long they've been doing that. I know that both Republican and Democrat administrations do it and it's part of our debt which is seventeen trillion or several hundred trillion depending on who you talk to.
There is no need to defend Clinton. That's just how business in Washington is done. They know if they default there is always quantative easing and nobody is going to hook up a wrecker onto the bumper of the car in the driveway. The Clinton surplus by the way was mostly an accounting trick. It's like the way they hide inflation from us. They continually change the way they measure it to make things look better than they are.
OK
HRES 490 IH
106th CONGRESS
2d Session
H. RES. 490
To ensure that the fiscal year 2000 on-budget surplus is used to reduce publicly-held debt and provide tax relief to American taxpayers.
IN THE HOUSE OF REPRESENTATIVES
May 4, 2000
Mr. WELDON of Florida (for himself, Mr. ARMEY, Mr. DELAY, Mr. LARGENT, Mr. COBURN, and Mr. STEARNS) submitted the following resolution; which was referred to the Committee on Ways and Means
RESOLUTION
To ensure that the fiscal year 2000 on-budget surplus is used to reduce publicly-held debt and provide tax relief to American taxpayers.
Resolved,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Save Our Surplus for Debt Reduction and Tax Rebate Resolution of 2000'.
SEC. 2. FINDINGS AND PURPOSE.
(a) FINDINGS- Congress finds that--
(1) the Office of Management and Budget estimated in the President's fiscal year 2001 budget submission that the Government will have a $19,000,000,000 nonsocial security surplus (on-budget surplus) in fiscal year 2000;
(2) it is expected that in the summer of 2000, the Office of Management and Budget will estimate an even larger budget surplus for fiscal year 2000;
(3) Government spending in fiscal year 2000 will increase faster than the rate of inflation for a total of over $1,750,000,000,000;
(4) the public debt has been paid down by $51,000,000,000 in fiscal year 1998, $88,000,000,000 in fiscal year 1999, and current estimates are that $163,000,000,000 will be paid down in fiscal year 2000;
I'm not going to pretend that I understand this enough to explain it to you. The Myth of the Clinton Surplus, Part II |
I've heard all the standard malarkey about Clinton borrowing from social security, about him not having a surplus and all the other convenient bold faced lies told by jealous Republicans. If Bush had let the surpluses continue to buy back debt the way Clinton had been doing during his last three fiscal years the debt was scheduled to be completely paid down and clear by 2012. What was the first thing Bush did? Two tax cuts, 2001 and 2003 using reconciliation to block opposition from the Democrats and Voila!! Surpluses gone. Then the crazy guy started two unfunded wars and because he didn't want to admit the tax cuts were a huge mistake he never raised the rates back and proceeded to double Reagan and his daddy's debt from $5.7 trillion to nearly $12 trillion. It's tax cuts for the wealthy which made a disaster of our national debt.
Since Al Gore was wrapped up in the Clinton surpluses you can bet your bippy he would have not cut tax rates for the wealthy. He wouldn't have invaded Iraq either.
Are you nuts? I just showed you the official verbiage from the house of representatives bill which declares how much surplus which was used to buy back debt for three fiscal years. Are you dumb??
HRES 490 IH
106th CONGRESS
2d Session
H. RES. 490
To ensure that the fiscal year 2000 on-budget surplus is used to reduce publicly-held debt and provide tax relief to American taxpayers.
IN THE HOUSE OF REPRESENTATIVES
May 4, 2000
Mr. WELDON of Florida (for himself, Mr. ARMEY, Mr. DELAY, Mr. LARGENT, Mr. COBURN, and Mr. STEARNS) submitted the following resolution; which was referred to the Committee on Ways and Means
RESOLUTION
To ensure that the fiscal year 2000 on-budget surplus is used to reduce publicly-held debt and provide tax relief to American taxpayers.
Resolved,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Save Our Surplus for Debt Reduction and Tax Rebate Resolution of 2000'.
SEC. 2. FINDINGS AND PURPOSE.
(a) FINDINGS- Congress finds that--
(1) the Office of Management and Budget estimated in the President's fiscal year 2001 budget submission that the Government will have a $19,000,000,000 nonsocial security surplus (on-budget surplus) in fiscal year 2000;
(2) it is expected that in the summer of 2000, the Office of Management and Budget will estimate an even larger budget surplus for fiscal year 2000;
(3) Government spending in fiscal year 2000 will increase faster than the rate of inflation for a total of over $1,750,000,000,000;
(4) the public debt has been paid down by $51,000,000,000 in fiscal year 1998, $88,000,000,000 in fiscal year 1999, and current estimates are that $163,000,000,000 will be paid down in fiscal year 2000;
I had a man with a doctorate in economics explain the way government calculates inflation to me once.
Yep. Elections have consequences, and I do believe Bush's election hurt this nation terribly for a few decades.
Damage in economic terms was bad, but the kicker was the hyper reaction to 9/11, including Iraq, patriot act, DHS, etc. he did exactly what Bin Laden was banking on.
LOL!
So did I. It was called "Economics 101". That man with the doctorate of economics also taught a lot more than that, including the fact that non-totalitarian governments do not deliberately manipulate economic numbers to show what they want to show, because the truth is always eventually revealed.
Funny, I took economics in college a long time ago and this was a recent conversation but good catch. An example of what I was talking about is food and fuel. The indices that they use to track inflation use to contain both commodities. They were eventually considered to be too volatile so they were removed from the statistics used to calculate inflation. That's one reason that inflation isn't in the headlines even though fuel prices have exploded. One reason that government wants to control inflation and not have volatility in the inflation numbers is that they make numerous payments with a COLA increase. If the cost of living doesn't increase because food and fuel are not included in the inflation calculation the government saves money even though the cost of living increases and inflation doesn't.
Gore lost. Get over it.
Jeb Bush had a sexual relationship with Harris? News to me. The popular vote doesn't count. The electoral vote does. Gore lost the electoral vote count, and lost the election. Remaining bitter over it won't change the outcome at all. Gore lost. Your characterization doesn't change the outcome at all.Yeah...after Jeb Bush, his concubine Katherine Harris and the conservative supreme court took it away from him. Al Gore got half a million more popular votes than Bush. As a matter of fact Republicans have lost the popular vote in five of the last six presidential elections. Kerry is the only one who actually lost and that was a case of a bunch of losers lying like a dog about Kerry's service in Vietnam. Bush doesn't even know how to spell Vietnam much less ever go over there while the war was hot.
Bush 286
Kerry 251
Obama 332
Romulus 206
Jeb Bush had a sexual relationship with Harris? News to me. The popular vote doesn't count. The electoral vote does. Gore lost the electoral vote count, and lost the election. Remaining bitter over it won't change the outcome at all. Gore lost. Your characterization doesn't change the outcome at all.
He lost the electoral vote because of one state.....his brother's. A close friend of mine was a technician who was working on those ? faulty voting machines and he told me every vote he saw thrown out because of the punches not being clean was a Democrat vote. The irony of this is that back when he was a tech for IBM we used to argue politics. He was a Republican...at least leaned that way. When Jeb Bush and Katherine Harris got that thing jacked up and they put the recount on hold.....LOL, it became a family matter. When the supreme court became involved the decision was 5-4. Guess which party the 5 were associated with? BINGO!!
Your close friend wasn't a partisan? Don't forget the university team that recounted all the votes only to discover that Bush's win in Florida was even larger. That's the fact, unpleasant as it might be for you.
Okay. Gore still lost.He lost the electoral vote because of one state.....his brother's. A close friend of mine was a technician who was working on those ? faulty voting machines and he told me every vote he saw thrown out because of the punches not being clean was a Democrat vote. The irony of this is that back when he was a tech for IBM we used to argue politics. He was a Republican...at least leaned that way. When Jeb Bush and Katherine Harris got that thing jacked up and they put the recount on hold.....LOL, it became a family matter. When the supreme court became involved the decision was 5-4. Guess which party the 5 were associated with? BINGO!!
Yeah...after Jeb Bush, his concubine Katherine Harris and the conservative supreme court took it away from him. Al Gore got half a million more popular votes than Bush. As a matter of fact Republicans have lost the popular vote in five of the last six presidential elections. Kerry is the only one who actually lost and that was a case of a bunch of losers lying like a dog about Kerry's service in Vietnam. Bush doesn't even know how to spell Vietnam much less ever go over there while the war was hot.
Bush 286
Kerry 251
Obama 332
Romulus 206
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