SEE SAM SMITH'S PROGRESSIVE REVIEW (also called Undernews)...December 16, 2010
www.prorev.com (article is posted in the BIG NEWS section)
The Clinton surplus myth
Every year Clinton was in office, the total national debt continued to climb.
How Clinton managed to claim a surplus was that while the general operating budgets ran deficits but Clinton borrowed from numerous off budget funds to make the on budget fund a surplus.
For example, in 2000, Clinton claimed a $230B surplus, but Clinton borrowed $152.3B from Social Security $30.9B from Civil Service Retirement Fund $18.5B from Federal Supplementary Medical insurance Trust Fund $15.0B from Federal Hospital Insurance Trust Fund $9.0B from the Federal Unemployment Trust Fund $8.2B from Military Retirement Fund $3.8B from Transportation Trust Funds $1.8B from Employee Life Insurance & Retirement fund $7.0B from others
Total borrowed from off budget funds $246.5B, meaning that his $230B surplus is actually a $16.5B deficit. ($246.5B borrowed - $230B claimed surplus = $16.5B actual deficit).
BBF
www.prorev.com (article is posted in the BIG NEWS section)
The Clinton surplus myth
Wiki Answers - Clinton ran deficits throught all 8 years of his term, and one can go to the US Treasury Department and looking through the history of the total outstanding debt throught Clintons term.
Every year Clinton was in office, the total national debt continued to climb.
How Clinton managed to claim a surplus was that while the general operating budgets ran deficits but Clinton borrowed from numerous off budget funds to make the on budget fund a surplus.
For example, in 2000, Clinton claimed a $230B surplus, but Clinton borrowed $152.3B from Social Security $30.9B from Civil Service Retirement Fund $18.5B from Federal Supplementary Medical insurance Trust Fund $15.0B from Federal Hospital Insurance Trust Fund $9.0B from the Federal Unemployment Trust Fund $8.2B from Military Retirement Fund $3.8B from Transportation Trust Funds $1.8B from Employee Life Insurance & Retirement fund $7.0B from others
Total borrowed from off budget funds $246.5B, meaning that his $230B surplus is actually a $16.5B deficit. ($246.5B borrowed - $230B claimed surplus = $16.5B actual deficit).
BBF
-- "The most potent weapon in the hands of the oppressor is the mind of the oppressed." --Steve Biko
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