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Saganista, its so wonderful to have "brilliant" liberals like yourself to set us straight on the "Clinton Surplus Myth". From the "Looting of Social Security", The Impending Crises, page 183, "At the moment, the Social Security Surplus exists only on paper. The actual funds have been used to help finance the day-to-day operations of the federal government." As for Bush squandering the mythical surplus, I seem to remember Congressional Democrats giving the President a blank check.
You said: "When expended, Treasury securities are redeemed by the trust funds and the cash is used to fund the outlays authorized." Where do you think the "cash" comes from to fund the outlays? It comes from taxes, borrowing or cutting entitlements/spending. There is no cash or economic assets in the "trust funds".
Wow, you figured that out and you've only had one posting here.. Congragulations, maybe other liberals will pickup on this myth and understand that there is NO FUND.. its SPENT.. I've been through this numerous times with sag who knows enough to sound like she knows what she's talking about while ignoring evidence that she doesnt..
You 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.
AND SPENT... Its not like money is sitting in a savings account somewhere to pay back the securities...
I said I debunked something - and I did - you are stating that I did not.
Haven't seen any debunking.
Link and text, please... or quit making fatuous claims.
Or, you could make a summary in your own words, explaining how the National Debt managed to increase in every year you claim there was a "surplus" in the yearly budget.
AND SPENT... Its not like money is sitting in a savings account somewhere to pay back the securities...
As has been previously pointed out to you, there is no money in your savings account either. Or that of anyone else. All you have is a little piece of paper that says the bank owes you money. But the bank actually took your money, and then...oh, my god...THEY SPENT IT!!!
Last edited by saganista; 05-13-2009 at 02:36 PM..
Wow, you figured that out and you've only had one posting here.. Congragulations, maybe other liberals will pickup on this myth and understand that there is NO FUND.. its SPENT.. I've been through this numerous times with sag who knows enough to sound like she knows what she's talking about while ignoring evidence that she doesnt..
And since none of the facts are on your side, each time you end up being CRUSHED simply by reporting the facts. Fish out of water is all you or any of these others hapless whiners are when it comes to these things...
Haven't seen any debunking.
Link and text, please... or quit making fatuous claims.
Or, you could make a summary in your own words, explaining how the National Debt managed to increase in every year you claim there was a "surplus" in the yearly budget.
Intro to Basic Remedial Finance 097:
Homework for Day 1 -- Learn the difference between debt and deficit.
Did you find something wrong with what I said? Were you going to discuss it? Or just make snotty comments from dreamland?
Back to the subject:
When a yearly budget is balanced, or in surplus, the government's debt does not rise that year, because it did not have to borrow any money that year.
Only when the yearly budget runs a deficit, does the govt's debt rise, because the govt had to borrow money to make ends meet.
In all years from 1990 thru 2000, the govt's debt ("National Debt") rose, without exception. Government had to borrow money every year. That's because they ran a deficit every year.
The Clintonistas seem to be buying into the philosophy of their mentor from a few generations back, who said that if you tell a big enough lie often enough, people will believe it, and it will become truth. Looks like they're reached the people-believe-it stage, at least with their own acolytes. But they have work to do still. It hasn't become truth. Back to the drawing board, Clintonites.
Last edited by Little-Acorn; 05-13-2009 at 02:59 PM..
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