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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (24839)	8/24/2012 8:54:27 PM
From: Wharf Rat	1 Recommendation Read Replies (1) \| Respond to of 85487

"If non-military spending didn't increase, but everything else was the same, we would be having surpluses now," " Yeah, yeah, and if the Clinton tax rates had been in effect for the last 12 years, and if the wars had been paid for, and if Medicare D had been paid for, the entire debt would just about be paid off. But they weren't, cuz then along came George Tall thin George Slow-walkin' George Slow-talkin' George Along came long, lean, lanky George The Clinton Administration Was Terrified About What Would Happen If It Paid Off The Entire National Debt In 2000, economists were projecting that the U.S. would pay off its national debt. Here's the kicker: Regardless of how the Fed proceeds, by 2012 the public debt will be retired according to current projections, leaving the government with net receipts above its expenditures. In order to deal with financial obligations mid century, the government may choose to save, and indeed invest this surplus. Read more: http://www.businessinsider.com/clinton-seligman-life-after-debt-2011-10#ixzz24VxoPBWj