Consider this, if the government were a business, no bank in the land would loan them a dime!!!
First there is some very misleading information concerning the so-called deficit surpluses of the Clinton Administration. Like Enron, Tyco and all the rest of the corporate scandals; the government too has been wrought with some of the most amazing accounting tricks that skew the way the numbers look. Republicans and Democrats are equally to blame for their spending habits. In fact, Congress, under both the leadership of the Republicans and Democrats have overspent the Nation’s “income” for the last 45 out of 50 years. They have all been running deficits upwards of 6 Trillion Dollars, 4 Trillion of which has been added on in the last 20 years…so neither political party can point the finger at the other, they are both equally culpable. Now, with the Bush budget we can expect that another 3 to 4 Trillion will be added onto the bloated deficit.
Most people don’t understand what the difference is between deficit and debt, they are very different and while they relate to each other they are not the same and the effects of each are different. The deficits are brought about when the government spends more then it actually brings in, we could call it income; the debt on the other hand is what the government has borrowed to continue the madness. The deficits are added to the debt in fiscal year-end accounting. Surpluses are simply subtracted from the overall debt; it doesn’t mean that there was any more real money added to the government’s coffers.
Currently, the debt is now right below the $9 Trillion Dollar mark and the deficit is actually smaller this year at over $200 Billion, much lower then the last few years under Bush. Bush deficits have added $2 Trillion to the Debt.
I am in no way defending Bush or the Republicans, but Clinton had his share in the spending spree. In 1996 the Clinton Budget called for $12 Trillion in spending over a 7-year period, with at least $200 Billion deficits annually for all those years, thankfully that spending plan didn’t go into effect. 1993 saw nearly $300 Billion in Clinton deficit spending alone.
Once again, someone doesn’t quite understand the way the tax system works, taxes are meaningless for revenue under the Federal Reserve System. Taxes barely put a dent in the periodic interest payments on the debt. We are now paying so much on the National Debt interest payments alone that taxation is a moot point. Besides the government just borrows what it needs to operate.
As far as the bogus economist John Maynard Keynes, the 50s repudiated his “theory”. He was a Fabian Socialist who combined a mishmash of socialist economics mixed with corporatism. He is one of the primary reasons we find ourselves in the place we do today. Keynes touted deficit spending, said it didn’t matter…obviously it does!
This country long ago rejected sound monetary policy and budgetary restraint; both Republicans and Democrats have each taken their turns at the ruination of this Country. The government, under the leadership of both parties, has repudiated the U.S. Treasury’s legal obligations to fulfill its promises to pay its debts. They confiscated the People’s gold by trickery, debased the nations currency, deliberately caused inflation. They have drained the ability of the People to save, used deficit spending to achieve ideological goals, monetized debt, attempted to plan the economy obviously without much success and have taxed the American People with a tax scheme that subsidizes classes at the expense of others. Their plan has attempts to redistribute the wealth for so called social justice purposes…all of which have reduced the vast majority of this country into a subservient class of producers.
They have extended the power of government far beyond its proper or legal role creating little more then a supreme executive government with powers so extensive that it can arbitrarily create new laws at will, without responsible oversight or restraint. It is a magnificent façade they have contrived, both political parties are little more then treasonous organizations intent on power, wealth and control.
I don't put any credence in either of the Political Party's Establishment Elite! They are liars, thugs, traitors, plutocrats and ravenous for power!
