Considering how much of the federal budget is consumed by defense and how little is allocated to the rest of the federal government and its' services (see previous post), it is interesting to find William Greider talking about the mainstream media's coverage of "The Geezer Threat."
The aging of the baby-boomers is only a "threat" to the fiscal health of this country if the purpose of federal government is perceived to be the never ending expansion of the "defense" budget.
Our federal government was solvent and running surpluses until the current administration started cutting taxes for the wealthy and waging needless wars.
4 comments:
I have told people before, and I truly believe that President Bush is the least Christian President for generations, if not from the founding of the Republic. How anyone can read the Gospels and act how he does simply does not add up in my humble opinion.
I learned a long time ago that any business that listed themselves as christians were the biggest crooks in town. I quess that applys to Presidents too. Most real christians never have to advertise.
Dr. Prescott,
We have discussed this before, but your facts are wrong. There was not a "surplus" under President Clinton. Here are the facts (all numbers in millions):
Total revenue in 2000: $2,025,218
Total revenue minus Social Security: $1,372,366
Total expenditures: $1,788,773
Total without Social Security: $1,379,350
As you can see, non-Social Security revenues were actually lower than non-Social Security expenditures, resulting in a deficit.
So from where did the "surplus" come? It came from robbing Social Security to pay down the deficit and even pay some of the debt. There has long been a Social Security surplus. Clinton and the Republican Congress conspired to rob the Social Security monies to cover up the massive overspending.
All facts and figures can be found here. In particular, I used Tables 1, 2, and 3.
Harold,
Thanks for your attention to details.
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