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Topic	U.S. debt lowest in six decades under Trump administration
Webmaster4531 06/27/18 11:12:54 PM #42:	tennisdude818 posted... Webmaster4531 posted... tennisdude818 posted... The US government will go bankrupt, probably in our lifetimes. That ship sailed long before Trump was elected, but I still oppose Trump's spending. And LOL at the partisan libs on CE. Yeah, Bernie or Hillary would have gotten our fiscal house in order. What a joke. They both proposed new taxes and a progressive tax scale. Bill Clinton had a surplus and SNAP has never been expanded since. The below is a good read if you're interested in seeing why Clinton didn't actually have a surplus. https://www.mises.org/library/surplus-hoax The federal government spends Social Security money and other trust funds which constitute obligations to present and future recipients. It consumes them and thereby incurs obligations as binding as those to the owners of savings bonds. Yet, the Treasury treats them as revenue and hails them for generating surpluses. If a private banker were to treat trust fund deposits as income and profit, he would face criminal charges. Correct me if I'm wrong, the United States isn't obligated to pay Social Security as a debt thus is able to cut payouts like the Trump administration proposes. It only becomes an actual debt when we borrow to pay out. That article lumps Bonds and Social Security together as trust funds. I can see how Social Security spending has increased because of baby boomers. Still a progressive tax plan and new taxes are way more fiscally responsible than the Trump tax cuts. Seems like he's waiting until after the midterms before cutting spending on things people actually like. --- Ad Hominem. <cite>Webmaster4531 posted [p:904098551] in U.S. debt ... [t:76755530]...</cite> <quote><cite>tennisdude818 posted...</cite> <quote><cite>Webmaster4531 posted...</cite> <quote><cite>tennisdude818 posted...</cite> <quote>The US government will go bankrupt, probably in our lifetimes. That ship sailed long before Trump was elected, but I still oppose Trump's spending. And LOL at the partisan libs on CE. Yeah, Bernie or Hillary would have gotten our fiscal house in order. What a joke.</quote> They both proposed new taxes and a progressive tax scale. Bill Clinton had a surplus and SNAP has never been expanded since.</quote> The below is a good read if you're interested in seeing why Clinton didn't actually have a surplus. https://www.mises.org/library/surplus-hoax <quote>The federal government spends Social Security money and other trust funds which constitute obligations to present and future recipients. It consumes them and thereby incurs obligations as binding as those to the owners of savings bonds. Yet, the Treasury treats them as revenue and hails them for generating surpluses. If a private banker were to treat trust fund deposits as income and profit, he would face criminal charges.</quote></quote> Correct me if I'm wrong, the United States isn't obligated to pay Social Security as a debt thus is able to cut payouts like the Trump administration proposes. It only becomes an actual debt when we borrow to pay out. That article lumps Bonds and Social Security together as trust funds. I can see how Social Security spending has increased because of baby boomers. Still a progressive tax plan and new taxes are way more fiscally responsible than the Trump tax cuts. Seems like he's waiting until after the midterms before cutting spending on things people actually like. --- Ad Hominem.</quote> ... Copied to Clipboard!
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