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Yep.....the Republicans are either too dumb or too hard headed to acknowledge it. The official debt only increased $18 billion in fy 1999 which officially ended Sept. 30th 2000. That was during a period when nearly $100 billion was used to buy back existing debt.
09/30/2000 $5,674,178,209,886.86(Administration And Congress Arguing About How To Use Surplus)
09/30/1999 $5,656,270,901,615.43(First Surplus Generated...On Track To Pay Off Debt By 2012)
09/30/1998 $5,526,193,008,897.62
09/30/1997 $5,413,146,011,397.34
09/30/1996 $5,224,810,939,135.73
09/29/1995 $4,973,982,900,709.39
09/30/1994 $4,692,749,910,013.32
09/30/1993 $4,411,488,883,139.38(Debt Quadrupled By Reagan/Bush41)
I see the banned poster melvin.george continues his spin
fact debt is debt
debt owed publicly and then bought by the government itself is still debt
NOT ONE PENNY WAS PAID TOWARDS the debt in the 90's by the clinton admin..he NEVER SAW A REAL SURPLUS
a SuRPLUS that is SPENT is a DEFICIT and a DEBT
too bad the fascist liberals are too dumb to understand basic accounting
I see the banned poster melvin.george continues his spin
fact debt is debt
debt owed publicly and then bought by the government itself is still debt
NOT ONE PENNY WAS PAID TOWARDS the debt in the 90's by the clinton admin..he NEVER SAW A REAL SURPLUS
a SuRPLUS that is SPENT is a DEFICIT and a DEBT
too bad the fascist liberals are too dumb to understand basic accounting
Hell....ban me again. I'm used to right wingers who can't stand the heat taking me out. Beginning in 1994 when I purchased my first desk top I've posted on dozens of forums or boards using over 150 mail names. I know you don't like what I say so go ahead.
debt owed publicly and then bought by the government itself is still debt
NOT ONE PENNY WAS PAID TOWARDS the debt in the 90's by the clinton admin..he NEVER SAW A REAL SURPLUS
a SuRPLUS that is SPENT is a DEFICIT and a DEBT
too bad the fascist liberals are too dumb to understand basic accounting
As I said prior, it's really splitting hairs. What Finley01 said is true, debt by your measure increased by only $18 billion in fy 1999. Considering that GDP grew from $9.4 trillion to $10 trillion in 2000, that additional debt was meaningless.
Hell....ban me again. I'm used to right wingers who can't stand the heat taking me out. Beginning in 1994 when I purchased my first desk top I've posted on dozens of forums or boards using over 150 mail names. I know you don't like what I say so go ahead.
so you admit you are a troll, and purposly flame the boards
I see what you are saying, but you are off a little
yes newt ballanced the budget, yes clinton faught it, yes they had PROJECTED budget surpluses, but those projected surpluses got SPENT on other things, therefore WIPING OUT the surplus, makng a deficit
That did not happen until 2001, and you are right, we had a mild recession that began in 2000, combined with a tax cut in May 2001, combined with the 09/11/01 attack, and all that resulted in a deficit for that year. I never believe anything coming from DC when it is "projected," particularly when it is over a 10 year period.
Nevertheless, during fiscal years 1998, 1999, and 2000 the GOP controlled Congress had an actual (not "projected") budget surplus. Again, all that means is Congress spent less than they originally budgeted. It does not mean it lowered the National Debt, which it obviously did not. The surplus was never "spent" because there was never enough revenue in the first place. Revenues were below what Congress actually spent, and even though what they spent was less than what they budgeted, there was still no money. Which is why the principle on the National Debt for those fiscal years increased, it just did not increase at as fast a pace as it had been.
Quote:
Originally Posted by workingclasshero
when actually...If Congress budgets $3.8 trillion, and only spends $3.7 trillion, and revenues are only $2.8 trillion, then Congress has a projected 1 trillion dollar deficit, but ends up with a real $900 billion DEFICIT while also increasing the National Debt by $900 billion
True. At the time Congress enacts the budget, everything is projected. It is only after the fiscal year ends that actual revenues and expenditures are counted to provide an actual surplus or deficit. Unlike every household that first obtains their revenue THEN makes a budget, Congress first makes a budget THEN collects the revenue. More often than not, the two are never the same.
As I said prior, it's really splitting hairs. What Finley01 said is true, debt by your measure increased by only $18 billion in fy 1999. Considering that GDP grew from $9.4 trillion to $10 trillion in 2000, that additional debt was meaningless.
And what most of them don't seem to know is that fiscal years run from Oct. 1 of the dated year till Sept. 30th of the next. In other words Clinton's last budget officially ended after Bush had been in office nearly nine months. By the same token Bush's last budget year didn't end till Sept. 30th of 2009 after Obama took over. It's been the way the government ran it's business, all departments and offices nation wide for as long as I can remember.
George W. Bush assumed a surplus after the congress had been arguing about how to use the excesses and solved their problems for them. He cut tax rates for the wealthy not once but twice using reconciliation to block opposition from Democrats. Then he started two wars and doubled the national debt. I might also mention that one of the wars was undeniably unnecessary and both were unfunded being financed by emergency spending bills. The absolute worst presidency in my lifetime.....'course I'm just 78.
I think they should donate a hip hop rave club to president poopiepants.
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