fatslob-:O said:
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.) |
Ok, I did some more checking and see your point concerning SS and the other trust funds contributing to the surplus since those funds automatically purchase tresurary notes when those funds have a surplus. I will get to your other point later as I am still working.
