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Politics : Clinton's Scandals: Is this corruption the worst ever? -- Ignore unavailable to you. Want to Upgrade?

To: Mo Chips who wrote (2171)	8/20/1998 9:10:00 AM
From: Les H	Read Replies (1) \| Respond to of 13994

If you go to the same web site, you'll find the following caption "Between 1965 and 1997, spending on Social Security, Medicare and Medicaid, and interest as a percentage of GDP grew, while spending on defense fell. " These programs are over 70% of the budget. The Democrats voted the inordinate increases in the entitlement programs in the 70's. The Democrats expanded the Social Security Supplement programs thus reducing the surpluses from the Social Security. The Democrats tied the Social Security benefits increases to a flawed government measure, CPI, which was extremely high in the late 70's to early 80's. I recall getting CD's with 18% interest rate in 1981. The government also had to pay out long-term Treasury securities with extremely high yields in the 80's. The growth was in the interest payment part of the budget. Much of the blame lies on the high inflation economy of Nixon/Ford/Carter/Democratic Congress of the 70's and what the Fed had to do to reign in inflation. The fiction is that we have a budget surplus now. There is still a huge budget deficit.