On Wed, 30 Jun 2004 18:09:39 GMT, "Wolfie" wrote
this crap:


If it's all used to pay off existing public debt (Savings Bonds,
T-Bills, whatever), the *public* part of the debt would go
down by $200B *AND* the total debt would decline by
the same $200B. What actually happens, though, is the
government retires some public debt and invests the
rest by buying GAS securities, something like this:

[voodoo accounting deleted]

The government still ran a surplus and paid off debt.
It's no secret *future* government obligations continue
to rise -- and will as long as SS takes in more money
than it pays out.


Keep spinning all you want, but you can't change the facts.

Every year that Clinton was in office we owed more money.

Expenditures exceeded income. Period.

Don't try to cover it up with government bonds, interest on the debt,
or any magical accounting. There was no surplus.






Pathetic Earthlings! No one can save you now!

Horvath wrote:

Keep spinning all you want, but you can't change the facts.


I'm not the one trying to change them.

Every year that Clinton was in office we owed more money.

Right, because future obligations increased.

Expenditures exceeded income. Period.

No, they didn't. Period.

Don't try to cover it up with government bonds, interest on the debt,
or any magical accounting. There was no surplus.

So what do you call it when the government brings in more
than $200M more in taxes than it spends?

On Thu, 01 Jul 2004 12:29:24 GMT, "Wolfie" wrote
this crap:


So what do you call it when the government brings in more
than $200M more in taxes than it spends?


It didn't happen. When you owe more than you did the year before, one
of three things happened:

1. You didn't bring in enough.

2. You spent too much.

3. Both

Pick One.






Pathetic Earthlings! No one can save you now!

I pick #3.

--
"j" ganz @@
www.sailnow.com

"Horvath" wrote in message
...
On Thu, 01 Jul 2004 12:29:24 GMT, "Wolfie" wrote
this crap:


So what do you call it when the government brings in more
than $200M more in taxes than it spends?


It didn't happen. When you owe more than you did the year before, one
of three things happened:

1. You didn't bring in enough.

2. You spent too much.

3. Horass has tits.

Pick One.






Pathetic Earthlings! No one can save you now!

Horvath wrote:
On Thu, 01 Jul 2004 12:29:24 GMT, "Wolfie" wrote
this crap:


So what do you call it when the government brings in more
than $200M more in taxes than it spends?


It didn't happen. When you owe more than you did the year before, one
of three things happened:

1. You didn't bring in enough.

2. You spent too much.

3. Both

4. You said, "Hey, I have to pay my taxes next year, so I'm going to
put $1,000 under my mattress. When I come back to get it, it will
be $1,500, not $1,000." And, of course, you also looked under
your mattress a couple of days later for the $600 you put there last
year, and -- surprise, surprise -- it's now $1,000, not $600, and
magically multiplied just like you thought it would. Of course, since
you owe *yourself* $500 more than you had, your debt went up.
All while you brought in more than you paid out.

Let's make this simple:
You have a budget for $250 income a week. You spend $100 on
rent, $70 on a car payment, $50 on food, and $20 on gas each
week. The other $10 you put into savings for a vacation. One
week, your car needs an oil change, which costs $9. That
week, you put only $1 into savings -- you don't have any more.
But you owe *yourself* $9. So, for that week, your "debt"
went up -- by $9 -- all while you made $250 and spent $249.
Easy enough, and not an uncommon scenario at all. Same thing
with the government series securities -- they buy a security from
themselves with the promise they'll make it up later when the
security is due at the higher value.