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Politics : The Obama - Clinton Disaster
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To: DuckTapeSunroof who wrote (53963)7/25/2011 4:06:50 PM
From: joefromspringfield3 Recommendations  Read Replies (3) of 103300
 
Buddy said:

"I believe you are confusing the words "annual deficit" with "national debt" and absolute numbers with relative measures (i.e. "per capita" with "absolute").....
BOTH "national debt per capita" AND "federal deficits as a percent of GNP" went DOWN during his years."

I don't disagree that the "national debt per capita" AND federal deficits as a percent of GNP went down.

Your original statement was:

(He had balanced budgets).

My definition of a balanced budget is:

Definition: A balanced budget occurs when the total sum of money a government collects in a year is equal to the amount it spends on goods, services, and debt interest.

A balanced budget has nothing to do with with per capita or percent of GDP. It only applies to the annual federal budget.

LBJ did attempt to propose a balanced budget in 1969. It is what I consider to be the biggest theft in American history. Prior to that year receipts from Social Security were kept in a secure fund off budget. This crook and his coconspirators came up with the unified budget which allowed them to count Social Security receipts in the general fund. Since SS was taking in more than it was paying out at this time it reduced the annual deficit.

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