Off-Topic: Debt versus deficit

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	Name:	MartiniMan -
	Subject:	Debt versus deficit
	Date:	11/15/2009 11:21:22 AM

Hound, the way you can have a surplus and debt at the same time is classic Washington way of thinking. The federal debt is a cumulative number (simplistically all the surpluses minus all the deficits....I know its way more complicated than that). A surplus is created when tax revenues in a current year exceed current year spending. So during the Clinton era two things happened simultaneously to create a surplus....significantly reduce spending (Republican's pushing back on certain domestic spending programs and Clinton reducing expenditures on the military) and raising taxes (too much as he said in his own words).

The casualty of that approach was Hillarycare, welfare spending, a somewhat reduced military capability and the tax increases caused a mini-recession that paved the way for W to beat Algore in 2000. Of course none of this takes into account the unfunded entitlement programs that essentially will bankrupt us and wipe any short term surpluses in a given year.

Other messages in this thread:

View Entire Thread

October Deficit=$176 Billion!! - MartiniMan - 11/12/2009 3:18:49 PM

October Deficit=$176 Billion!! - cobra - 11/12/2009 10:47:24 PM

October Deficit=$176 Billion!! - Talullahhound - 11/13/2009 4:40:48 PM

October Deficit=$176 Billion!! - MrHodja - 11/13/2009 4:52:05 PM

Bush is an idiot - Summer Lover - 11/13/2009 4:55:54 PM

Not an idiot...but not - MartiniMan - 11/13/2009 5:12:14 PM

an idiot - Summer Lover - 11/13/2009 5:21:02 PM

an idiot - Talullahhound - 11/13/2009 6:04:42 PM

an idiot - MrHodja - 11/13/2009 6:37:15 PM

an idiot - Psycho - 11/13/2009 7:22:04 PM

That's What I'm saying - Talullahhound - 11/14/2009 9:35:16 AM

Debt versus deficit - MartiniMan - 11/15/2009 11:21:22 AM

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