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Politics : Al Gore vs George Bush: the moderate's perspective -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (3589)	10/25/2000 10:34:23 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 10042

Gore will pay down the debt every year. I guess you need to go and read that post again: Message 14653463 THE SURPLUS INCREASES GOVERNMENT INDEBTEDNESS... to the tune of $2 trillion in additional debt over the course of the next 10 years. And US DEBT IS NOT A HARD ASSET WHEN IT IS ISSUED TO ITSELF. It must INVEST that money in OTHER INSTRUMENTS THAT ARE AN OBLIGATION AGAINST SOMEONE ELSE, whether private or foreign national debt (like the Japanese govt buying US Treasuries). If the government CANNOT take that money and invest it in other assets, IT SHOULD NOT COLLECT IT from the taxpayers. The Social Security "trust fund" is a slick smoke and mirrors accounting trick that essentially lets the goverment increase its budget size. IT SUCKS MONEY AWAY FROM THE PRIVATE SECTOR which has the burden of growing the size of the "economic pie" to pay off govt obligations. Putting the surplus into government debt instruments, thereby increasing the national debt into the future and FORCING the government budget to increase annually, rather than simply INVESTING IT will only increase our obligations that future generations have to pay. The ONLY THING that government should be doing with that surplus money is paying down the current privately held governmental debt load so that when we need to, we can issue more public debt when SS benefits kick in for the baby boomers. Any additional monies the goverment collects should be assigned to extensive Federal block grants for the purpose of worker re-training, merit based college loans/grants, rebuilding public infrastructure, and subsidizing the development of technology that will greatly enhance economic productivity and growth. That's the way you spend a "surplus".. you use it in such a way that 10-20 years from now, your ability to grow your economy and increase tax revenues from workers who have become more productive and receive higher wages. Gore will spend the surplus on entitlements and HUGE governmental programs that will HAVE TO BE FUNDED IN ADDITION TO FUTURE SOCIAL SECURITY OBLIGATIONS FOR THE AGING BABY BOOMERS. Gore's plan is a Ponzi scheme that will collapse under the weight of its future obligations.