Announcement

Collapse
No announcement yet.

Is the Clinton Surplus a Myth?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Is the Clinton Surplus a Myth?

    This site says yes:
    Captain of Team Apolyton - ISDG 2012

    When I was younger I thought curfews were silly, but now as the daughter of a young woman, I appreciate them. - Rah

  • #2
    Ok.

    Let's all take time out of our lives to discuss the blog post of some no-name hyperpartisan whackjob from the internet.

    He's got an animated GIF of the American flag, but he's so patriotic he left his country to go live in Mexico for 10 years.

    "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
    Ben Kenobi: "That means I'm doing something right. "

    Comment


    • #3
      You could post that in 90% of threads here. Actually a good idea.
      Jon Miller: MikeH speaks the truth
      Jon Miller: MikeH is a shockingly revolting dolt and a masturbatory urine-reeking sideshow freak whose word is as valuable as an aging cow paddy.
      We've got both kinds

      Comment


      • #4
        For what it's worth, I did read it for 30 seconds until I discovered the man doesn't know the definition of a fiscal surplus in terms of budgets and his entire argument is predicated on that misunderstanding and semantics.
        "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
        Ben Kenobi: "That means I'm doing something right. "

        Comment


        • #5
          Oh, does he post here?
          Jon Miller: MikeH speaks the truth
          Jon Miller: MikeH is a shockingly revolting dolt and a masturbatory urine-reeking sideshow freak whose word is as valuable as an aging cow paddy.
          We've got both kinds

          Comment


          • #6
            When the government collects payroll taxes, gives the money to the "social security trust fund" and uses the money to buy treasuries, the government is no more or less indebted than it already was. So no, it wasn't a real surplus (if by surplus you mean reducing the government's debt burden) unless the government decided it wanted to default on the debts held by itself.

            Comment


            • #7
              Under the accounting rules that the USA government generously allows itself to use, it had the surplus officially mentioned.
              Under the accounting rules that the USA government rigorously requires for others like all private business, charities, non profit organizations, individual citizens, etc, (most particularly the one pertaining to future liabilities such as pensions) the government would have had a huge deficit in those years.
              So it is a matter of the government writing special accounting rules just for itself to hide large parts of the deficit. This pertains to all administrations and congresses, not just the Clinton years, in which, by the way, what little spending austerity that existed then was mainly forced by republicans.
              Last edited by Lefty Scaevola; June 1, 2012, 14:52.
              Gaius Mucius Scaevola Sinistra
              Japher: "crap, did I just post in this thread?"
              "Bloody hell, Lefty.....number one in my list of persons I have no intention of annoying, ever." Bugs ****ing Bunny
              From a 6th grader who readily adpated to internet culture: "Pay attention now, because your opinions suck"

              Comment


              • #8
                When did Ozzy become a hack? I mean other than the 8 year olds voting stuff.
                “As a lifelong member of the Columbia Business School community, I adhere to the principles of truth, integrity, and respect. I will not lie, cheat, steal, or tolerate those who do.”
                "Capitalism ho!"

                Comment


                • #9
                  lefty scaevola hath spoken. so sayeth the Shepard, so sayeth the Flock.
                  I wasn't born with enough middle fingers.
                  [Brandon Roderick? You mean Brock's Toadie?][Hanged from Yggdrasil]

                  Comment


                  • #10
                    Originally posted by DaShi View Post
                    When did Ozzy become a hack? I mean other than the 8 year olds voting stuff.
                    I raised a question. Do you have an opinion on it or are you just a brainless idiot who'd rather make personal insults then think for a moment? If so I'd be happy to add you to my ignore list.
                    Captain of Team Apolyton - ISDG 2012

                    When I was younger I thought curfews were silly, but now as the daughter of a young woman, I appreciate them. - Rah

                    Comment


                    • #11
                      Originally posted by Asher View Post
                      For what it's worth, I did read it for 30 seconds until I discovered the man doesn't know the definition of a fiscal surplus in terms of budgets and his entire argument is predicated on that misunderstanding and semantics.
                      Believe it or not the whole "Clinton never had a surplus" nonsense has been a right wing talk radio talking point for the last 12 years. It's been debunked enough and is really old hat by now.
                      Try http://wordforge.net/index.php for discussion and debate.

                      Comment


                      • #12
                        Originally posted by OzzyKP View Post
                        I raised a question. Do you have an opinion on it or are you just a brainless idiot who'd rather make personal insults then think for a moment? If so I'd be happy to add you to my ignore list.
                        Don't BS. You did not just raise a question. You posted a troll then followed up with an obvious piece of political hackery. That you think you shouldn't be insulted for it is laughable.
                        “As a lifelong member of the Columbia Business School community, I adhere to the principles of truth, integrity, and respect. I will not lie, cheat, steal, or tolerate those who do.”
                        "Capitalism ho!"

                        Comment


                        • #13
                          The right wing is completely correct about this - or, at a minimum, the left must necessarily be wrong, because it claims two mutually exclusive things about the budget.
                          "You're the biggest user of hindsight that I've ever known. Your favorite team, in any sport, is the one that just won. If you were a woman, you'd likely be a slut." - Slowwhand, to Imran

                          Eschewing silly games since December 4, 2005

                          Comment


                          • #14
                            Not completely correct. It's how the US government account works, regardless of party.
                            "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
                            Ben Kenobi: "That means I'm doing something right. "

                            Comment


                            • #15
                              Originally posted by Asher View Post
                              Not completely correct. It's how the US government account works, regardless of party.
                              This man says the official accounting is wrong. You respond "but it's how the accounting is done officially." That doesn't prove him wrong. He knows he's at odds with the official accounting. That's the entire point of the article.

                              Here's what proves him right, and the official accounting wrong. Which of the following is true?

                              (a) Debt owed to the social security trust fund represents a legitimate liability.
                              (b) Bonds owned by the social security trust fund represent legitimate assets.

                              The official government accounting argues (b) but not (a), which is nonsense. (a) necessarily implies (b) and vice versa.
                              "You're the biggest user of hindsight that I've ever known. Your favorite team, in any sport, is the one that just won. If you were a woman, you'd likely be a slut." - Slowwhand, to Imran

                              Eschewing silly games since December 4, 2005

                              Comment

                              Working...
                              X