Looks like another 4 years for Obama

[brotherjericho]

http://www.factcheck.org/2008/02/the-budget-and-deficit-under-clinton/

I gave you a link, but you'd rather run to another source where you don't think for yourself.

Try it. Go to the link I posted, its from the federal government. It will give you debt figures for the whole Clinton presidency. You will not ever see a surplus against the national debt, only the public debt. That is not the whole debt picture.

 

[ginjawarrior]

Seriously, if they put in the applicable years of Clinton's presidency, they will see that public debt did decrease, but the national debt continued to increase. So this "budget surplus" talk is solely based on only one piece of the pie.

Date	Debt Held by the Public	Intragovernmental Holdings	Total Public Debt Outstanding
12/31/1999	Not Available	Not Available	5,776,091,314,225.33

12/29/2000

Not Available

Not Available

5,662,216,013,697.37

that to me is a decrease in debt small as it maybe

 

[Omgwtfbbq Indicaman]

a decrease! *gasp* not since 2000!

 

[brotherjericho]

I will simplify this for those who don't want to take me up on doing their own work. From the site I listed before, listing only the years there was supposed to be a "surplus".



As you can see, public debt went down ("surplus" for that year) but intragovernmental holdings went up. So the total debt for the year increased, thus there was no true surplus at any time under Clinton.

 

[brotherjericho]

Date	Debt Held by the Public	Intragovernmental Holdings	Total Public Debt Outstanding
12/31/1999	Not Available	Not Available	5,776,091,314,225.33

12/29/2000

Not Available

Not Available

5,662,216,013,697.37

that to me is a decrease in debt small as it maybe

Budget years end on September 30 of each year.

 

[Johnny Retro]

I gave you a link, but you'd rather run to another source where you don't think for yourself.

Try it. Go to the link I posted, its from the federal government. It will give you debt figures for the whole Clinton presidency. You will not ever see a surplus against the national debt, only the public debt. That is not the whole debt picture.

Economics isn't their strong point. Don't expect a rational or educational answer.

 

[brotherjericho]

Economics isn't their strong point. Don't expect a rational or educational answer.

Well, if they ignore it, that's their choice. For those of us who actually care to back up what we believe, it's there to review.

 

[ginjawarrior]

Budget years end on September 30 of each year.

 

[brotherjericho]

I'm sorry that's the way the government works.

 

[Carne Seca]

http://www.factcheck.org/2008/02/the-budget-and-deficit-under-clinton/

 

[brotherjericho]

http://www.factcheck.org/2008/02/the-budget-and-deficit-under-clinton/

And? They used only the public debt component, not the total national debt. I have already explained this.

 

[Padawanbater2]

How is adding 2 trillion to the military budget going in the right direction?

Those supporting Romney, would you please explain how that more fiscally responsible than the opposition?

 

[Harrekin]

And? They used only the public debt component, not the total national debt. I have already explained this.

Oh I remember you under another screen name.

The "national debt" only counts public debt, not private debt held by the public.

You need to jump-start your brain bro.

 

[brotherjericho]

For those who keep looking at the "Fact Check" site for the supposed surplus, here is the real chart you would get if you include intragovernmental holdings and total national debt.

 

[brotherjericho]

Oh I remember you under another screen name.

The "national debt" only counts public debt, not private debt held by the public.

You need to jump-start your brain bro.

What are you going on about? The data from the treasury site has nothing to do with private debt.

 

[Johnny Retro]

Oh I remember you under another screen name.

The "national debt" only counts public debt, not private debt held by the public.

You need to jump-start your brain bro.

The national debt of the United States is split into two categories:

1. Public Debt

2. Intragovernmental Holdings

Public debt is any money that is owed to investors, foreign governments, mutual funds, hedge funds, pension funds, foreign investors, etc.

"Intragovernmental holdings", on the other hand, is money that the government basically owes to itself, because it borrowed the money from itself.



How does the government borrow money from itself? Let's take the Social Security fund as an example.

The Social Security fund is administered by the government. Historically, the Social Security fund has taken in more money than it has paid out.

What does a government, that almost always posts a budget deficit, do? It borrows from the Social Security fund, promising to repay the money at a later time. An IOU from the government, to the government.

If there is any excess money sitting around in a government-adminstered program, then there is a good chance that it will be borrowed to fund deficit spending.

The problem, of course, is that this money will have to be repaid in the future.

The Social Security fund has been a great source of funds for the federal government, but these days are rapidly coming to an end.

 

[FreedomWorks]

"""""" "Intragovernmental holdings", on the other hand, is money that the government basically owes to itself, because it borrowed the money from itself. """"

AKA inflation by way of quantitative easing. Too bad the Ben Burnanke is a Liberal, he keeps bailing out Obama's failed stimulus.

 

[UncleBuck]

They decreased it, but the national debt increased every single year, and the yearly deficit was never reduced to zero. The "budget surplus" was based on public debt, and it was achieved by borrowing from intragovernmental holdings (mostly social security). The actual national debt, which consists of the public debt and intragovernmental holdings, never decreased in all of the Clinton years.

In fact, the 2001 budget, which belonged Clinton before he left office, was over $130 billion.

this is kind of like: yeah, but if you look at u-6, things have gotten much worse!

sorry, fact is that obama and clinton reduced the deficit, and republicans for the last 30 years have exploded the deficit.

these are facts.

 

[Carne Seca]

And? They used only the public debt component, not the total national debt. I have already explained this.

http://www.factcheck.org/2008/02/the-budget-and-deficit-under-clinton/

 

[Hemlock]

Ronmey wins by a landslide write it down! Seems like lots of folks don't care who it is as long as it ain't Obama