Economy

progree

(10,901 posts)

15. So why did the national debt keep increasing every year? I think because there are other surpluses

Tue Sep 18, 2012, 11:30 AM

Sep 2012

besides Social Security, such as Medicare, and like Social Security, they were being loaned to the general fund and being so being added to the federal debt. As the federal government general fund must pay back Medicare and Social Security when these programs run deficits and then must draw upon their trust funds.

Anyway, here is the national debt at the end of each fiscal year -- it is increasing throughout (in $ Billions):
http://www.treasurydirect.gov/NP/BPDLogin?application=np

9/30/96 5224.8 End of FY 1996
9/30/97 5413.1 End of FY 1997
9/30/98 5526.2
9/30/99 5656.3
9/30/00 5674.2
9/30/01 5807.5 End of FY 2001
9/30/02 6228.2 End of FY 2002

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Folks, was the Clinton surplus a myth or was it real? I hear we were on track [View all] secondwind Sep 2012 OP

There was a national debt number when he left office Gman Sep 2012 #1

I think they predicted more or less by 2007, I forget. secondwind Sep 2012 #5

Clinton surplus Mattias Sep 2012 #10

All of our public finances are pretty much made up as we go along. bemildred Sep 2012 #2

It's borrowed from the Chinese, Japanese, individual American citizens and institutions that buy US progree Sep 2012 #13

It's real debt, but it's debt in fake money. bemildred Sep 2012 #16

Nobody "added a zero". Sorry about that. Tell Greece, Spain etc. their debt problems aren't real progree Sep 2012 #18

The Fed adds zeroes whenever it likes. bemildred Sep 2012 #19

Nope, they do not. But don't let me interfere with your fantastical delusions progree Sep 2012 #20

It's paper, when it's anything at all. bemildred Sep 2012 #21

Its not "just paper" when the sheriff comes to evict you from your home. Go bug the freepers nt progree Sep 2012 #25

OK, it's special paper, with little colored threads in it, and holographs. bemildred Sep 2012 #26

Yes. Now go bug the freepers. Most of us are working on campaigns. nt progree Sep 2012 #27

Don't let me drag you away from your work Sport. nt bemildred Sep 2012 #28

Put it another way: the surplus is just as real as the debt. bemildred Sep 2012 #22

It was real, or would have been in foreseeable future, elleng Sep 2012 #3

Not the wars EC Sep 2012 #6

thanks for replies, although am still confused, but less so! secondwind Sep 2012 #4

Republicans call it "imaginary" because the surplus came from Warpy Sep 2012 #7

Absolutely NO MYTH. mother earth Sep 2012 #8

Add to that, Republican presidents have historically & factually been the true spenders, Reagan & GW mother earth Sep 2012 #9

Some more on that point -- progree Sep 2012 #14

Too good to wait for opening your link: TY progree. mother earth Sep 2012 #23

There's NOTHING conservative about the GOP, in fact that label squarely belongs to the Dems. mother earth Sep 2012 #24

So why did the national debt keep increasing every year? I think because there are other surpluses progree Sep 2012 #15

Real and nomninall money Mattias Sep 2012 #11

They were kind of, sort of, real surpluses progree Sep 2012 #12

Taxes for the wealthy have been slashed significantly through those years. What is expected then, mother earth Sep 2012 #17

National Debt Mattias Sep 2012 #29

Well said. There's no easy way out of this Bush Depression...the GOP sunk this ship, when Obama is mother earth Sep 2012 #30

And to add Mattias Sep 2012 #31