Funny numbers floating around

[detroitguy]

I keep coming across people who INSIST that the federal current account budget surpluses of the 90s were “fake” or that they were “just projections” that never materialized. These same folks also keep repeating the lie that the “national debt increased every year under Bill Clinton.”

Part of this is just whole-cloth fabrication. And part of this is based on funny numbers on right-wing Web sites that count the projected future growth of obligations to Social Security and federal pension as current-account debt. That is phony math. It’s like arguing that any savings you set aside in 2004 were “fake” if you are likely to need money for a child’s college education years from now or for nursing care in your old age.

Given that many Republicans get their arguments (directly or indirectly) from sets of talking points, I have to think that we’ll be seeing this garbage more and more.

Below are some links that can help dispel the mythology.
The surpluses HAPPENED:
http://www.cbo.gov/showdoc.cfm?index=1821&sequence=0#table12

http://www.gpoaccess.gov/usbudget/fy01/guide04.html

The at "debt held by the public" in the fiscal years 1997-2001 decreased:

http://www.cbo.gov/showdoc.cfm?index=1821&sequence=0

[Up2Late]

1. Two Words: Revisionist History

The Right-wing Media and websites are LIARS! End of Story.



Here are a few fun links to BBC News On-line. I say "Fun," because most, if not all, of the links on these pages, Still Work.

US to buy back national debt
Wednesday, August 4, 1999
<http://news.bbc.co.uk/1/hi/business/the_economy/411973.stm>

The trillion dollar surplus
Monday, June 28, 1999
<http://news.bbc.co.uk/1/hi/business/the_economy/380217.stm>

Exorcising the US national debt
Wednesday, June 30, 1999
<http://news.bbc.co.uk/1/hi/business/the_economy/380923.stm>

The Debt To the Penny
<http://www.publicdebt.treas.gov./opd/opdpenny.htm>

Note: The biggest "problem" with the "the Surplus" and buying back the debt, was that it made the Dollar so strong, that it caused the price of OIL to fall below $10.00 a Barrel (back in 1998, I have Government links for that too). I don't find that to be a problem, But a bunch of folks down in Texas do.

[Up2Late]

2. Kick n/t

:kick: