RE: Clinton budgets (Full Version)

All Forums >> [Community Discussions] >> Dungeon of Political and Religious Discussion



Message

tazzygirl -> RE: Clinton budgets (1/10/2012 6:05:45 PM)

Lets try this again.

According to the Secretary of the Treasury, the budget had a surplus. I showed you that.

According to the treasury report, that I gave you the link too... the budget Clinton had for three years running had surpluses.

According to the law, the Treasury had to use that surplus money to reduce securities.

Those cost money.

The 17.9 billion dollars was money spent by the Treasury Department as a result of the surpluses to Clinton's budget.

Now, if that is not simple enough for you, I suggest you write the current Secretary of the Treasury and ask them directly.



LookieNoNookie -> RE: Clinton budgets (1/10/2012 8:44:31 PM)

quote:

ORIGINAL: tazzygirl

This seems to be a common point brought up by many. So, what the hell, instead of constantly derailing other threads to tackle the argument, Im going to start its own.

Yay me!

Anyway, the argument is that, as in 2000, there was no surplus because of the 17.9 Billion increase in the debt.

Lets discuss!


I think it's hilarious (if not painful).  So many people rant on about "but Clinton had a surplus!!!!!"

No he didn't.

And you showed it clearly.

Debt went up every year.



tazzygirl -> RE: Clinton budgets (1/10/2012 10:07:13 PM)

The debt, in this case, wasnt caused by his budget.

United States Government Statement of Operations and Changes in Net Position for the Year Ended September 30, 2000
(In billions of dollars)


Revenue:
Indivi dual income tax and tax withholdings ............................................................. 1,635.2
Corporation income taxes ...................................................................................... 204.3
Unemployment taxes ............................................................................................ 26.6
Excise taxes......................................................................................................... 69.3
Estate and gift taxes ............................................................................................. 28.9
Customs duties ..................................................................................................... 19.4
Other taxes and receipts ....................................................................................... 56.3
Miscellaneous earned revenues............................................................................. 4.8
Total revenue .................................................................................................. 2,044.8

Net Cost of Government Operations:
National defense................................................................................................... 397.3
Human resources ................................................................................................. 1,119.7
Physical resources ................................................................................................ 121.0
Interest................................................................................................................. 230.2
Other functions ..................................................................................................... 130.6
Total net cost of Government operations ........................................................... 1,998.8

Excess of revenue over net cost ........................................................................... 46.0

Unreconciled transactions affecting the change in
net position (Note 16) ........................................................................................ 7.3
Increase in net position ......................................................................................... 53.3

Net position, beginning of period.......................................................................... (6,026.2)
Prior period adjustments (Note 17)......................................................................... 35.8
Net position, end of period.................................................................................... (5,937.1)



Its a simple balance sheet, fellas. From the Treasury Department.

Are you saying they are lying?



Hippiekinkster -> RE: Clinton budgets (1/10/2012 11:33:09 PM)

FR

Jimmy has 3 apples. Sally has 2... [8D]

I mean, this stuff isn't that hard (except maybe for Glen Beck et alia hehehe)

The Smiths begin 2011 with $10,000 of credit card debt. This debt has a simple (not compounded) interest rate of 10%. That means, if no payments are made, the debt at the end of the year will be $11,000.

The Smiths think, based on their income, that they will have $10,000 coming in. They plan their annual budget. They believe they will be spending $10,000 during the year. If their income exactly matches their outgo, there is neither a surplus nor a defecit.

However, the Smiths actual income for the year is $10,500. They have a budgetary surplus of $500. They use that extra $500 and pay down a little of the credit card debt at the end of the year.

So, instead of owing $11,000, they only now owe $10,500. Their debt has increased by $500. Their budget had a surplus of $500. They did not spend an extra $500 to increase the debt; the increase was due to the interest ONLY. They were actually $500 ahead of what they budgeted at the beginning of the year.

So, even though their debt increased, they came in under budget. The same result would have occurred if they had budgeted $10,000, but only spent $9500. They reduced spending, had a budget surplus, and used the surplus to pay some of the debt, which ended up being $10,500, instead of $11,000, which they would have had if they had spent exactly whet they budgeted.

I really don't get why this is so hard for some people. They don't even have to take their shoes off to do THIS trivial cipherin'. Hell, even Jethro Bodine could figure this out.



MrRodgers -> RE: Clinton budgets (1/11/2012 5:05:54 AM)


quote:

ORIGINAL: Musicmystery

quote:

Check the years in question, and you can calculate these results from the data:
FY . . . .Ending. . . . . Debt . . . . . . . . . .Deficit
FY1993 09/30/1993 $4.411488 trillion
FY1994 09/30/1994 $4.692749 trillion $281.26 billion
FY1995 09/29/1995 $4.973982 trillion $281.23 billion
FY1996 09/30/1996 $5.224810 trillion $250.83 billion
FY1997 09/30/1997 $5.413146 trillion $188.34 billion
FY1998 09/30/1998 $5.526193 trillion $113.05 billion
FY1999 09/30/1999 $5.656270 trillion $130.08 billion
FY2000 09/29/2000 $5.674178 trillion $17.91 billion
FY2001 09/28/2001 $5.807463 trillion $133.29 billion

FY . . . .Ending. . . . . Debt . . . . . . . . . .Deficit................adjusted for inflation (2010 dollars)
FY1993 09/30/1993 $4.411488 trillion...................................$6.57 trillion
FY1994 09/30/1994 $4.692749 trillion $281.26 billion.............$6.81 trillion....$408.35 billion
FY1995 09/29/1995 $4.973982 trillion $281.23 billion.............$7.05 trillion....$398.35 billion
FY1996 09/30/1996 $5.224810 trillion $250.83 billion.............$7.19 trillion....$344.94 billion
FY1997 09/30/1997 $5.413146 trillion $188.34 billion.............$7.32 trillion....$254.67 billion
FY1998 09/30/1998 $5.526193 trillion $113.05 billion.............$7.35 trillion....$150.46 billion
FY1999 09/30/1999 $5.656270 trillion $130.08 billion.............$7.33 trillion....$168.57 billion
FY2000 09/29/2000 $5.674178 trillion $17.91 billion...............$7.11 trillion.... $22.45 billion
FY2001 09/28/2001 $5.807463 trillion $133.29 billion ............$7.16 trillion......$164.42 billion

http://www.westegg.com/inflation/infl.cgi

Good, don't ever comeback with repub debt adjusted to 2010 dollars, it will make you blush. Well, I think it will...it should. Fact of the matter is, the only real surplus created in the US govt....is the soc. sec. or payroll tax surplus. Why am I NOT at all surprised ?

People, get a fucking grip.

America...THE US...is ALL about money, profits...greed. As a traditional American capitalist, so to speak, my concerns are how much money can I make and how little taxes I must pay on that money...if ANY at all.

I don't give a hoot about federal debt, unemployment, inflation, the Chinese or Vietnam for example except as a profit center, war too except as a profit center.

You see as an American capitalist, I care ONLY about money...my money. Not the country, not foreign policy except how it affects how much money I make. I surely don't care about govt. spending unless it is on me and I couldn't care less about interest rates, I deduct it all.

Why the problem with Obama care ? Because it affects my profit and my taxes, that's all. I don't care about your health care or how much it costs just as long as I am making money off you and not paying those taxes. If that means you pay twice as much to die 3-4 years younger than the life leaders in the world...oh well. Too bad, this country is ALL about MY profit, not your health.

Good post tazzygirl but I am sure lost on most of the partisan swill around here.



DaddySatyr -> RE: Clinton budgets (1/11/2012 5:14:13 AM)

quote:

ORIGINAL: LookieNoNookie
I think it's hilarious (if not painful).  So many people rant on about "but Clinton had a surplus!!!!!"

No he didn't.

And you showed it clearly.

Debt went up every year.



I think they mean that President Clinton had a surplus of libido.



provfivetine -> RE: Clinton budgets (1/11/2012 5:58:03 AM)

The "Clinton surplus" is just a myth.

Accounting gimmickry and hedonics are no substitute for reality.



DaddySatyr -> RE: Clinton budgets (1/11/2012 7:31:35 AM)

I'm no economist and frankly; finance leaves me scratching my head when it comes to governmental spending and budget but, I think it comes down to three things ...

A budget is either balanced, in deficit, or in surplus.

I do know that while President Clinton was in office, I kept hearing pundits saying that the economy was doing well. My paycheck and increased taxes didn't make me feel that way.

I also remember that shortly after King George II was sworn in, the whole energy bubble burst (Enron et al) and there were a bunch of pundits (from the opposite side) that were saying that companies (and the government) had been "cooking the books" to make the economy look like it was robust when it wasn't.

I think, in the final analysis, there's only one real truth: professional politicians lie.



Peace and comfort,



Michael



tazzygirl -> RE: Clinton budgets (1/11/2012 8:20:35 AM)


quote:

ORIGINAL: provfivetine

The "Clinton surplus" is just a myth.

Accounting gimmickry and hedonics are no substitute for reality.


The final budget for 2000. Show me the gimmicks. I have been through the whole report from the Treasury department.

Its funny how people say "There was no surplus" when the Treasury itself says there was.


A MESSAGE FROM THE SECRETARY OF THE TREASURY

The U.S. Government is again reporting an accrual-based surplus, which this year is $46 billion. Additionally, this past year the size of the Federal debt held by the public has been reduced by $223 billion. All 24 major agencies completed their financial statements on time and the quality of their reporting continues to improve. The Joint Financial Management Improvement Program has established a Governmentwide financial software certification process that is beginning to ensure that commercial systems being purchased by the Federal Government meet its requirements.


http://fms.treas.gov/fr/00frusg/00frusg.pdf

I challenge any of you to find out how the Secretary of the Treasury lied. If you cant, then your suppositions are wrong. The link gives the complete budget for 2000.

Im sure one of you intelligent gentlemen can show me the smoke and mirrors.



tazzygirl -> RE: Clinton budgets (1/11/2012 8:34:11 AM)

quote:

I think, in the final analysis, there's only one real truth: professional politicians lie.


Yes we do, which is why we have PolitiFact

What is their analysis?

quote:

We’ve previously reported that there were indeed budget surpluses during his time as speaker of the House, from 1995 to 1999. By fiscal year 1998, the federal budget did reach a surplus of $69 billion. And in fiscal year 1999 -- which Gingrich can claim some responsibility for, even though he was out as speaker for most of the fiscal year -- it was in surplus as well, to the tune of $126 billion.


http://www.politifact.com/truth-o-meter/statements/2011/dec/28/winning-our-future/ad-credits-newt-gingrich-balancing-budget/

First, the balanced budget.

The federal budget runs on a fiscal year calendar that begins October 1 and ends September 30. During fiscal years 1996 and 1997 -- the first two that Gingrich helped shape as speaker -- there were deficits: $107 billion in 1996 and about $22 billion in 1997.

By fiscal year 1998, the federal budget did reach a surplus of $69 billion. And in fiscal year 1999 -- which Gingrich can claim some responsibility for, even though he was out as speaker for most of the fiscal year -- it was in surplus as well, to the tune of $126 billion.

But that’s only two balanced budgets he can claim credit for. The federal government did run four consecutive surpluses, but for the last two of those -- fiscal years 2000 and 2001 -- Gingrich was no longer serving in the House.

http://www.politifact.com/truth-o-meter/statements/2011/dec/16/newt-gingrich/newt-gingrich-repeats-claim-about-his-record-balan/



Page: <<   < prev  1 [2]

Valid CSS!




Collarchat.com © 2025
Terms of Service Privacy Policy Spam Policy
0.0625