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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (360724)11/29/2007 12:06:46 PM
From: Tenchusatsu  Read Replies (1) of 1575173
 
Chris, > To break this down to where you can understand it, imagine you personally didn't make enough to pay your bills, and were making up the difference by charging it to credit cards. The amount you charged to credit cards would be your DEFICIT. Now, imagine that you cut your expenses and raised your salary enough so that you didn't NEED the credit cards ( on which you still owed a DEBT ), but instead were saving a SURPLUS.

Imagine if, even after paying the interest, the balance on the credit cards continued to grow. That means either someone has stolen your credit card or you are not being honest with your finances.

To repeat a line in the article (which you obviously failed to read):

> Unfortunately, gross debt -- which includes obligations in the Social Security trust fund and other government trust funds, as well as publicly held debt -- increased by $291.7 billion during the same period of reported "surplus."

Or more accurately, you're borrowing against your 401k and calling that "income." Only in the case of SS, you're going to make up for the loss of retirement savings by demanding that future generations "put their noses to the grindstone to pay for YOUR benefits."

Tenchusatsu
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