I'll add that the obligations of many programs are excluded from the official balance sheet. Programs like Medicare and Social Security, Fannie and Freddie are not included in the calculations you represent below. Those are cash basis budgets, which ignore liabilities.
http://www.forbes.com/2008/02/08/budget-deficit-taxes-ii-in_aq_0208soapbox_i nl.html Oh, and it's those damn tax and spend Republicans too. ;-) > -----Original Message----- > From: Jeff Wright [mailto:[email protected]] > Sent: Saturday, April 18, 2009 10:07 PM > To: 'Computer Guys Discussion List' > Subject: RE: [CGUYS] M$ [Was: iTunes: Crap or not.] > > > $millions: > > > > Year Receipts Outlays Surplus > > ---- --------- --------- ------- > > 1998 1,721,955 1,652,685 69,270 > > 1999 1,827,645 1,702,035 125,610 > > 2000 2,025,457 1,789,216 236,241 > > 2001 1,991,426 1,863,190 128,236 > > > > The Fed was also in the black every year from 1920-30, plus 1947-49, > > 1951, > > 1956-57, 1960, and 1969. But nobody ever had a surplus even remotely > > like > > Bill Clinton's. His 2000 surplus is 20x the pre-Clinton record. > > > > Those damnable tax & spend Democrats. > > > > http://www.whitehouse.gov/omb/budget/fy2009/pdf/hist.pdf > > Notably, with the exception of 1969, these are all immediately pre and > post-war budgets. 1920-30 was mostly under Cool Cal's watch, a man > known > for his remarkable fiscal restraint. > > Clinton's was the result of massive reductions in defense spending from > the > end of the Cold War and more notably, an opposition party in control of > the > House and Senate (and that naughty accounting trick of counting SS > funds as > part of revenue). ************************************************************************* ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *************************************************************************
