Al Gore vs George Bush: the moderate's perspective Message Board

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Politics : Al Gore vs George Bush: the moderate's perspective

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To: American Spirit who wrote (2971)	10/18/2000 12:43:13 AM
From: Hawkmoon	Read Replies (2) of 10042

What is obvious is that your even less adept with macro-economics than even I am... It's called smoke and mirrors, AS... Every dollar the government takes in and spends MUST be repaid in the future if it is derived from the SS trust fund. It will take a vibrant economy to meet those tax obligations. But a surplus requires that money be removed from the private sector, placed in trust, loaned to the govt, and a future obligation IOU offer in return, payment due 20 years from now. That's money that cannot be made available to the private sector for investment or debt servicing through corporate debt offerings. And it's an incredible distortion of the economy and the governmental budgeting process... It's hard to believe that the government will be FORCED to spend more than it has to, simply because SS trust fund surpluses can only be placed in US T-Bills... That surplus income should be available to the economy, but the government is interfering and forcing future generations to confront even higher tax consequences. Lowering the deficit is one thing... Increasing the national debt is quite another. They ARE NOT one and the same. Especially if the deficit is being lowered through the use of borrowed SS trust fund money.

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