| Machiavellian said: Fatslob, you cannot spin that Clinton did not balanced the budget. Even within that link it specifically stated that without SS it was still a surplus so not sure what you tangent is. You are beginning to make stuff up to support your point of view and not actually reading the whole site. You are trying to give me an opinion while I gave you a fact. I believe I will just trust the numbers from the fact check site then your opinion on the matter. |
You and Factcheck are the ones doing the spinning ...
If you read carefully from the article you linked to me they state that, "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." to which I respond with ...
A) You cannot count Social Security Trust Funds only as income ...
B) Other Trust Funds also have liabilities attached with them ...
C) "Defaulting" is defined in regards to "national debt" and not "federal debt" ...
D) You cannot claim surplus when you've increased the national debt ...
If you and Brooks Jackson want to believe in voodoo accounting over accrual accounting then be my guest as the rest of the accountants will continue to prophesize how the government is financially doomed no matter what they do. Do you honestly think they'll ever be able to fork out over 19 trillion in debt ?
You can stay in la la land believing that intragovernmental debt isn't real debt either ...
Despite the fact that you accuse Trump for unethical business practices, I bet that within our lifetimes that the US government will have committed the biggest ponzi scheme thus far of not being able to pay back on social security. Once shit starts hitting the fan I suggest you buy some gold since the US dollar will crash, don't say I didn't warn you ... (Currency is only as strong as the people's beliefs in it that it has value otherwise it's just paper.)
