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MrRodgers -> RE: And they say Biden is the plagiarizer in this administration (9/6/2012 4:35:52 AM)
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ORIGINAL: lovmuffin
quote:
ORIGINAL: tazzygirl
You do realize SS is off those books, yes?
He paid down the public debt by borrowing money in the form of intragovernmental holdings (mostly Social Security). He called it a surplus but that's just not quite accurate.
http://www.craigsteiner.us/articles/16
Horseshit of course but you a determined aren't you ? You think Clinton all by himself had that power and that neither Reagan or Bush were doing it ? You'd again be wrong.
What your link refers to is the intergovernmental shifting of revenue that started in 83 with the Greenspan/Reagan 'reform' of soc.sec. They produced a tripling, that's right 3X the payroll tax to OVERFUND soc. sec. starting out at about $50-$60 billion per year.
Not surprisingly our esteemed so-called fiscal conservatives used that over-payment from the start in fiscal 83 to obscure or reduce their deficit.
So by the same accounting standards used by ALL admin. Clinton in fact created the first (3 in fact) surpluses in the public debt for the first time since the 60's. That is something that no so-called fiscally conservative repub has ever done.
Can't change accounting rules to suit your partisan shrill.
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