Wednesday, November 02, 2005

 

Clinton's Phantom Surplus



Did you know that there's a website, maintained by the Bureau of Public Debt, that shows our national debt to the penny? I didn't until today.

Of course, it shows that the national debt has risen steadily.

The interesting thing to me, though, is that it shows that the national debt rose steadily through the Clinton years, too:

  • 09/29/2000..........$5,674,178,209,886.86
    09/30/1999..........$5,656,270,901,615.43
    09/30/1998..........$5,526,193,008,897.62
    09/30/1997..........$5,413,146,011,397.34
    09/30/1996..........$5,224,810,939,135.73
    09/29/1995..........$4,973,982,900,709.39
    09/30/1994..........$4,692,749,910,013.32
    09/30/1993..........$4,411,488,883,139.38
    09/30/1992..........$4,064,620,655,521.66


  • Now, I don't pretend to understand the deficit, the government's spending operations, or any of this. I defer to those with a better grasp on it than I have. Like this guy and this guy. However, I do know that, in our family, if our debts are going up and up and up, we don't talk about how much extra money we have.

    Here's my point: All we've heard from the Democrats and the media is that Bush has wasted this wonderful national surplus that Clinton had stockpiled for us. Can somebody explain to me, in simple terms, how we had such a wonderful surplus during the Clinton years if our national debt increased by the hundreds of billions during every year of Clinton's presidency?

    It's odd, too, that nobody was running around in the 90's talking about how our country had it's largest national debt ever under Clinton... when, in fact, that was the case. I suppose that the liberals had a better understanding of relativity then than they do now.

    Clinton wasn't fighting a war... he wasn't rebuilding cities after hurricanes... and yet, during his presidency, the debt went up and up and up.

    Liberals (the especially nutty ones, anyway) accuse the Bush White House of trying to scare us all to death with "phantoms" called terrorists. Meanwhile, the Democrats try to scare us to death with a "phantom" called the deficit. The obvious difference, I suppose, is that the deficit didn't do this:


    I ain't no economist, but I know BS when I smell it.

    What deficit?

    What Clinton surplus?


    Comments:
    Must have used some new-fangled voodoo economics to figure the Clinton surplus out...
     
    I'm not an expert in this field...not even a little bit of an expert.
    Bush is facing some enormous challenges during his presidency. I can't imagine the national debt not increasing given all that has taken place.
    Success in these big challenges is key. I hope that spending will be reigned in significantly over the next few years, but I have no complaint for money that is well spent.
     
    Amen Bro. Keep knock'n 'em down partner. I like your style and conviction!
    But I have to disagree. There was a Clinton surplus! Just look at, Al Gore, Sandy Berger,Paul Begala, James Carville, Hillary Clinton, Ruth Bader Ginsburg, ect. Now that is certainly a surplus of idiots!!! 'O wait, you mean economic.... now that's funny!
    Thanks for do'n what ya do!
     
    Simple: You have a misunderstanding. There was a surplus in the budget, meaning more money than was spent. The debt still increased, but more slowly over time and the trend almost reversed. Actually, only 4 of the years showed a multi-hundred billion dollar increase in the debt. The debt is all the money the nation owes and the deficit is the money the government in any given fiscal year has spent more than it took in. A surplus can thus exist at the same time as a debt. Budget deficits tend to accumulate and contribute to most of the national debt. Not all, but most. So the government of the 90s still borrowed more money than it payed off, but balanced its budget and almost started paying off its debt. Translation: There was extra, unused money in addition to the budget but still a debt that was yet to be payed.
     
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