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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (90204)9/24/2007 8:52:30 AM
From: ChanceIsRead Replies (3) of 306849
 
>>>Hillary's husband left Bush with the largest surplus ever.<<<

I would like to make what I hope is a politically neutral statement.

THERE WAS NO BUDGET SURPLUS UNDER CLINTON.

What has been called a surplus was merely the fact that the social security surplus - which exists to pay the retirees 15 years or so from today - was sufficient to cover the operational deficit w/o the government having to go to the general public to borrow what social security couldn't cover.

THE OPERATIONAL BUDGET HASN'T BEEN IN THE BLACK SINCE 1957. It is the operational budget which must come into surplus soon to begin to pay back the IOUs held by social security as the baby boomers retire. (I think that social security has done worse buying US Treasuries than CALPERS did buying subprime paper - of course social security has no choice.)

PLEASE NOTE

1) I am stating facts w/o any implicit intention of making a political statement.

2) The deficits are hugely worse under Bush than Clinton. Embarrassingly so.

3) Bush has let down every Republican who embraced the Republican ideal of smaller government and fiscal responsibility.

BTW: If you think that you are going to get any social security, you are nuts. If you are doing the smart thing and selling dollars to buy foreign oil and gas, then you might be able to afford to retire before age 79.
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