RE: How the Deficit Got This Big????

RE: How the Deficit Got This Big???? (Full Version)

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tazzygirl -> RE: How the Deficit Got This Big???? (9/17/2011 11:11:18 PM)
The decreases in held by the public during fiscal years 1999 to 2000 are due primarily to federal revenues exceeding federal spending during those years. budget surplus Definition The amount by which a government's, company's, or individual's income exceeds its spending over a particular period of time. http://www.investorwords.com/602/budget_surplus.html#ixzz1YHX2puee

willbeurdaddy -> RE: How the Deficit Got This Big???? (9/17/2011 11:12:17 PM)
quote: ORIGINAL: tazzygirl The decreases in held by the public during fiscal years 1999 to 2000 are due primarily to federal revenues exceeding federal spending during those years. budget surplus Definition The amount by which a government's, company's, or individual's income exceeds its spending over a particular period of time. http://www.investorwords.com/602/budget_surplus.html#ixzz1YHX2puee UNIFIED BUDGET SURPLUS. Give it up. Youre wrong and proven more wrong with every cite you think supports your view and doesnt. Youve already said this isnt good for your health. Listen to your inner doctor.

tazzygirl -> RE: How the Deficit Got This Big???? (9/17/2011 11:18:55 PM)
Not what they are saying, and you know it. The Treasury was very specific in every accounting of the budget. due primarily to federal revenues exceeding federal spending during those years. Thats what they said.. thats what they meant. Federal revenues exceeded federal spending. Period.

willbeurdaddy -> RE: How the Deficit Got This Big???? (9/17/2011 11:29:48 PM)
quote: ORIGINAL: tazzygirl Not what they are saying, and you know it. The Treasury was very specific in every accounting of the budget. due primarily to federal revenues exceeding federal spending during those years. Thats what they said.. thats what they meant. Federal revenues exceeded federal spending. Period. Sigggh. The KenDoll school of denial. The title of your link: Bureau of the Public Debt’s Fiscal Years 2000 and 1999 Schedules of Federal Debt Note the "Public Debt" is all that is discussed in the report. From your link: As we recently reported in our Performance and Accountability Series,2 budget surpluses over the past 3 years have resulted in Treasury reducing debt held by the public. Note footnote 2: 2 Major Management Challenges and Program Risks: Department of the Treasury (GAO-01- 254, January 2001). Here's a link to it: http://www.gao.gov/pas/2001/d01254.pdf And a quote from it: At the end of fiscal year 1998, the unified budget of the federal government was in surplus for the first time in almost 30 years and surpluses are projected to continue over the next decade find ANYTHING in the report that talks about surpluses other than UNIFIED BUDGET SURPLUSES. You cant, they never existed.

tazzygirl -> RE: How the Deficit Got This Big???? (9/17/2011 11:31:34 PM)
We arent dealing with the footnote. ~sighs The report I gave you doesnt once mention a unified budget. However, in regards to the Unified Budget.... The Budget Enforcement Act of 1990, however changed this so that the two Social Security Trust Funds, and the operations of the Postal Service, are considered to be 'off-budget' and are excluded from the unified budget.[3] This means that the Social Security Tax is not counted as revenue, and interest on the Trust Funds is counted as an expense to an external entity. Often Federal budget reports will contain two sets of numbers for the yearly Federal Budget: an 'off-budget' deficit (or surplus) and an 'on-budget' deficit (or surplus) the former of course including the receipts and outlays of these budgets, but by law for purposes of balancing the budget they are 'off-budget'.

willbeurdaddy -> RE: How the Deficit Got This Big???? (9/17/2011 11:34:03 PM)
quote: ORIGINAL: tazzygirl We arent dealing with the footnote. ~sighs The report I gave you doesnt once mention a unified budget. Because the entire report is ONLY about PUBLIC DEBT. And you dont want to deal with the footnote, WHICH IS PART OF YOUR REPORT, because it proves you wrong.

Raiikun -> RE: How the Deficit Got This Big???? (9/17/2011 11:35:35 PM)
All Tazzy really is showing is that some politicians of the time were trying their best to refuse to acknowledge that they were borrowing from trust funds to cover their expenses.

tazzygirl -> RE: How the Deficit Got This Big???? (9/17/2011 11:36:00 PM)
No it doesnt. SS isnt part of the unified budget.

willbeurdaddy -> RE: How the Deficit Got This Big???? (9/17/2011 11:47:31 PM)
quote: ORIGINAL: tazzygirl No it doesnt. SS isnt part of the unified budget. ROFL. That is the definition of the unified budget!! "In the United States a unified budget is a federal government budget in which receipts and outlays from federal funds and the Social Security Trust Fund are consolidated." Page 14 of your report: Meh. files too big. Page 14 of your report has a graph showing TOTAL DEBT increasing every year. TOTAL DEBT grows when there is a DEFICIT. Page 14 of your report says "The increase in gross Federal Debt of $18 billion during fiscal year 2000". There is no increase in GROSS FEDERAL DEBT when there is a budget surplus. The same $18 billion that Ive posted before and Raiikun has posted before. Your own report says exactly what we have. Now go back to bed before your head hurts even worse. And yet another source that explains so simply what you are in denial about: The Brief Period of Budget Surplus For many years prior to 1997, the deficit in the on-budget programs was far larger than the surplus in the off-budget programs. That meant the unified budget was at times in substantial deficit, which was covered by the sale of Treasury securities to the public. As the economy improved in the late 1990s, the on-budget programs moved into near budget balance. With the continuing surplus in the off-budget programs, the unified budget moved briefly into surplus. That allowed the Treasury to retire some of the outstanding debt. That ended when the recession of 2001 drove the on-budget programs into large enough deficit to exceed the off-budget surplus. Since then the budget deficit has grown at an unprecedented rate.

tazzygirl -> RE: How the Deficit Got This Big???? (9/17/2011 11:58:08 PM)
Unified budget In the United States a unified budget is a federal government budget in which receipts and outlays from federal funds and the Social Security Trust Fund are consolidated.[1] The change to a unified budget resulted in a single measure of the fiscal status of the government, based on the sum of all government activity. When these fund groups are consolidated to display budget totals, transactions that are outlays of one fund group (i.e., interfund transactions) are deducted to avoid double counting.[2] The Budget Enforcement Act of 1990, however changed this so that the two Social Security Trust Funds, and the operations of the Postal Service, are considered to be 'off-budget' and are excluded from the unified budget.[3] This means that the Social Security Tax is not counted as revenue, and interest on the Trust Funds is counted as an expense to an external entity. Often Federal budget reports will contain two sets of numbers for the yearly Federal Budget: an 'off-budget' deficit (or surplus) and an 'on-budget' deficit (or surplus) the former of course including the receipts and outlays of these budgets, but by law for purposes of balancing the budget they are 'off-budget'. http://en.wikipedia.org/wiki/Unified_budget Page 14 of the report... http://www.treasurydirect.gov/govt/reports/pd/feddebt/feddebt_ann2000.pdf Does not contain the words "unified budget". nor does it even mention Social Security.

tazzygirl -> RE: How the Deficit Got This Big???? (9/18/2011 12:02:48 AM)
So, by 1986, Social Security was technically off-budget, but it was still being used in the deficit calculations. Absent other legislative change, this would have continued until 1993. However, in the Omnibus Budget Reconciliation Act (OBRA) of 1990 the law was changed to stop the use of the Trust Funds for any function in the unified budget, including calculations of the deficit. One sub-part of OBRA 1990 was called the Budget Enforcement Act (BEA), and it was this sub-part that specified this change in the law. http://www.ssa.gov/history/BudgetTreatment.html

willbeurdaddy -> RE: How the Deficit Got This Big???? (9/18/2011 12:03:07 AM)
quote: ORIGINAL: tazzygirl Unified budget In the United States a unified budget is a federal government budget in which receipts and outlays from federal funds and the Social Security Trust Fund are consolidated.[1] The change to a unified budget resulted in a single measure of the fiscal status of the government, based on the sum of all government activity. When these fund groups are consolidated to display budget totals, transactions that are outlays of one fund group (i.e., interfund transactions) are deducted to avoid double counting.[2] The Budget Enforcement Act of 1990, however changed this so that the two Social Security Trust Funds, and the operations of the Postal Service, are considered to be 'off-budget' and are excluded from the unified budget.[3] This means that the Social Security Tax is not counted as revenue, and interest on the Trust Funds is counted as an expense to an external entity. Often Federal budget reports will contain two sets of numbers for the yearly Federal Budget: an 'off-budget' deficit (or surplus) and an 'on-budget' deficit (or surplus) the former of course including the receipts and outlays of these budgets, but by law for purposes of balancing the budget they are 'off-budget'. http://en.wikipedia.org/wiki/Unified_budget Page 14 of the report... http://www.treasurydirect.gov/govt/reports/pd/feddebt/feddebt_ann2000.pdf Does not contain the words "unified budget". nor does it even mention Social Security. Yes...exactly what I said, the UB includes SS, when you specifically said in your prior post that it doesnt. And page 14 shows gross debt going up. Im done letting you embarass yourself further.

tazzygirl -> RE: How the Deficit Got This Big???? (9/18/2011 12:08:33 AM)
It doesnt. Read it again. The SS part was removed in 1990. The Budget Enforcement Act of 1990, however changed this so that the two Social Security Trust Funds, and the operations of the Postal Service, are considered to be 'off-budget' and are excluded from the unified budget.

willbeurdaddy -> RE: How the Deficit Got This Big???? (9/18/2011 12:10:01 AM)
quote: ORIGINAL: tazzygirl It doesnt. Read it again. The SS part was removed in 1990. The Budget Enforcement Act of 1990, however changed this so that the two Social Security Trust Funds, and the operations of the Postal Service, are considered to be 'off-budget' and are excluded from the unified budget. As I said, Im not letting you embarass yourself further, and when you resort to this kind of obfuscation, which I can only assume is deliberate, thats exactly what youre doing. Good night.

tazzygirl -> RE: How the Deficit Got This Big???? (9/18/2011 12:14:07 AM)
quote: when you resort to this kind of obfuscation I did nothing of the sort. I posted the same thing three times. You are wrong and hate to admit it. You misread it.. not my fault. But do enjoy your evening. [;)]

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