You are absolutely correct... the so-called surpluses of the last few Clinton years were visible only through the lens of 'smoke and mirrors'.
The true current deficit in Clinton's last year (taking properly into account all of the 'off budget' items that are, none-the-less, legitimate obligations of the government, like Social Security and Medicare) was measured at $504 Billion.
This figure was placed on the Treasury Department's Web site in an official report about the deficit (on page 54... the last page of the report, while the headline on page one trumpeted a 'surplus').
Never-the-less, during the last few Clinton years, the true federal deficit was trending lower... although balance or surplus was never achieved.
Unfortunately, with the last 2+ Bush years, not only is the real deficit trending SIGNIFICANTLY in the opposite direction (toward more and more red ink), but the ABSOLUTE SIZE of the real deficit is much larger, (national debt now exceeds $120,000 for every man, woman, and child in the country), federal spending is higher than ever, and all the 'smoke and mirror' lies are still with us!
Bush II is deficit spending like a drunken sailor at the end of shore leave.... His spending is $150 Billion HIGHER over each of the past two years, than Clinton's EVER was! |
