Oh no, we're not changing the subject.
You said, "Surpluses enough to ensure Soc. Sec. and Medicare into the forseeable future...."
That is a verifiable lie.
Don't believe me? Then explain this.....
President Clinton's 1999 "balanced" budget, the first in 30 years, is an accounting illusion
epf.org
The Illusory Budget Surplus
ncpa.org
FEDERAL BUDGET "SURPLUS"
-- SMOKE & MIRRORS
bedfordonline.com
Balanced Budget? Not Really
progress.org
THE LEGEND OF BILL CLINTON, BUDGET BALANCER
hench.net
Historical Debt Outstanding - Annual
1950 - 2000
* Rounded to Millions
09/30/2000 $5,674,178,209,886.86
09/30/1999 5,656,270,901,615.43
09/30/1998 5,526,193,008,897.62
09/30/1997 5,413,146,011,397.34
09/30/1996 5,224,810,939,135.73
09/29/1995 4,973,982,900,709.39
09/30/1994 4,692,749,910,013.32
09/30/1993 4,411,488,883,139.38
09/30/1992 4,064,620,655,521.66
publicdebt.treas.gov
What is the difference between the debt and the deficit?
The deficit is the fiscal year difference between what the Government takes in from taxes and other revenues, called receipts, and the amount of money the Government spends, called outlays. The items included in the deficit are considered either on-budget or off-budget. (The off-budget items are typically comprised of the two Social Security trust funds, old-age and survivors insurance and disability insurance, and the Postal-Service fund.) Generally, on-budget outlays tend to exceed on-budget receipts, while off-budget receipts tend to exceed off-budget outlays.
You can think of the total debt as accumulated deficits plus accumulated off-budget surpluses. The on-budget deficits require the Treasury to borrow money to raise cash needed to keep the Government operating. We borrow the money by selling Treasury securities like T-bills, notes, bonds and savings bonds to the public. Additionally, the Government Trust Funds are required by law to invest accumulated surpluses in Treasury securities. The Treasury securities issued to the public and to the Government Trust Funds (Intragovernmental Holdings) then become part of the total debt. For information concerning the deficit, visit the Financial Management Service website to view the Monthly Treasury Statement of Receipts and Outlays of the United States Government (MTS).
publicdebt.treas.gov |
