Excerpt From The 106th Congress Of The United States of America

[Campbell]

"The Congressional Budget Office and the Office of Management and
Budget have both forecast sizeable budget surpluses over the next 15
years. Fiscal year 1998 surpluses already have reduced the Government's
borrowing needs, causing Treasury to adjust its debt management
policies. Last year, Treasury suspended auctions of 3-year notes and
reduced the frequency of 5-year note sales.

As large surpluses continue to reduce the Government's borrowing
needs, Treasury must consider how its policies will affect taxpayer
costs and capital market efficiency. Consequently, Treasury is
exploring new debt management polices. On August 4, 1999, Treasury
announced regulations (31 CFR Part 375) to allow Treasury to buy back
outstanding debt before it matures. In essence, Treasury would buy back
old debt and re-issue new debt in its place. Such a policy would not
reduce the level of debt, but it may help Treasury achieve other goals,
such as improving liquidity and achieving targeted cash balances. A
debt buyback program would increase short-term costs, but should
generate long-term budgetary savings.

In announcing the hearing, Chairman Archer stated: ``With large and
growing budget surpluses projected over the next 15 years, we have an
historic opportunity to reduce our national debt. As the Administration
explores adjustments to its debt management policies, including a new
proposal to buy back outstanding debt, the Congress needs to remain
engaged in decisions regarding the level of debt and its costs to the
taxpayer, as well as the growing debate concerning the efficiency of
global and domestic capital markets. Our goal should be to reduce
significantly the national debt at the least cost to the taxpayer.''

The Congressional Budget Office reported budget surpluses of $69 billion in 1998, $126 billion in 1999, and $236 billion in 2000, during the last three years of Clinton's presidency:

NOT TO WORRY:

George W. Bush took over, gave the wealthy two tax cuts in 2001 and 2003 and shot this little phenomenon in the foot!

I might also point out that Bush doubled the national debt from $5.7 trillion to nearly $12 trillion. He funded two hot wars(one totally unnecessary) with emergency spending bills.

 

[Kosh]

"The Congressional Budget Office and the Office of Management and
Budget have both forecast sizeable budget surpluses over the next 15
years. Fiscal year 1998 surpluses already have reduced the Government's
borrowing needs, causing Treasury to adjust its debt management
policies. Last year, Treasury suspended auctions of 3-year notes and
reduced the frequency of 5-year note sales.

As large surpluses continue to reduce the Government's borrowing
needs, Treasury must consider how its policies will affect taxpayer
costs and capital market efficiency. Consequently, Treasury is
exploring new debt management polices. On August 4, 1999, Treasury
announced regulations (31 CFR Part 375) to allow Treasury to buy back
outstanding debt before it matures. In essence, Treasury would buy back
old debt and re-issue new debt in its place. Such a policy would not
reduce the level of debt, but it may help Treasury achieve other goals,
such as improving liquidity and achieving targeted cash balances. A
debt buyback program would increase short-term costs, but should
generate long-term budgetary savings.

In announcing the hearing, Chairman Archer stated: ``With large and
growing budget surpluses projected over the next 15 years, we have an
historic opportunity to reduce our national debt. As the Administration
explores adjustments to its debt management policies, including a new
proposal to buy back outstanding debt, the Congress needs to remain
engaged in decisions regarding the level of debt and its costs to the
taxpayer, as well as the growing debate concerning the efficiency of
global and domestic capital markets. Our goal should be to reduce
significantly the national debt at the least cost to the taxpayer.''

The Congressional Budget Office reported budget surpluses of $69 billion in 1998, $126 billion in 1999, and $236 billion in 2000, during the last three years of Clinton's presidency:

NOT TO WORRY:

George W. Bush took over, gave the wealthy two tax cuts in 2001 and 2003 and shot this little phenomenon in the foot!

See the far left provides a link that does not support their religious narratives..

The government can have a surplus even if it has trillions in debt, but it cannot have a surplus if that debt increased every year. This article is about surplus/deficit, not the debt. However, it analyzes the debt to prove there wasn't a surplus under Clinton.

For those that want a more detailed explanation of why a claimed $236 billion surplus resulted in the national debt increasing by $18 billion, please read this follow-up article.

Bill Clinton Legacy of Myththology and Surplus.

And that is from the far left CNN...

Another far left drone fail thread..

 

[Campbell]

"The Congressional Budget Office and the Office of Management and
Budget have both forecast sizeable budget surpluses over the next 15
years. Fiscal year 1998 surpluses already have reduced the Government's
borrowing needs, causing Treasury to adjust its debt management
policies. Last year, Treasury suspended auctions of 3-year notes and
reduced the frequency of 5-year note sales.

As large surpluses continue to reduce the Government's borrowing
needs, Treasury must consider how its policies will affect taxpayer
costs and capital market efficiency. Consequently, Treasury is
exploring new debt management polices. On August 4, 1999, Treasury
announced regulations (31 CFR Part 375) to allow Treasury to buy back
outstanding debt before it matures. In essence, Treasury would buy back
old debt and re-issue new debt in its place. Such a policy would not
reduce the level of debt, but it may help Treasury achieve other goals,
such as improving liquidity and achieving targeted cash balances. A
debt buyback program would increase short-term costs, but should
generate long-term budgetary savings.

In announcing the hearing, Chairman Archer stated: ``With large and
growing budget surpluses projected over the next 15 years, we have an
historic opportunity to reduce our national debt. As the Administration
explores adjustments to its debt management policies, including a new
proposal to buy back outstanding debt, the Congress needs to remain
engaged in decisions regarding the level of debt and its costs to the
taxpayer, as well as the growing debate concerning the efficiency of
global and domestic capital markets. Our goal should be to reduce
significantly the national debt at the least cost to the taxpayer.''

The Congressional Budget Office reported budget surpluses of $69 billion in 1998, $126 billion in 1999, and $236 billion in 2000, during the last three years of Clinton's presidency:

NOT TO WORRY:

George W. Bush took over, gave the wealthy two tax cuts in 2001 and 2003 and shot this little phenomenon in the foot!

See the far left provides a link that does not support their religious narratives..

The government can have a surplus even if it has trillions in debt, but it cannot have a surplus if that debt increased every year. This article is about surplus/deficit, not the debt. However, it analyzes the debt to prove there wasn't a surplus under Clinton.

For those that want a more detailed explanation of why a claimed $236 billion surplus resulted in the national debt increasing by $18 billion, please read this follow-up article.

Bill Clinton Legacy of Myththology and Surplus.

And that is from the far left CNN...

Another far left drone fail thread..

Horse Shit!!!! Typical Right Wing Response to absolute proof that tax cuts run up the debt:

..........................Total U S Debt...........................

09/30/2014 $17,824,071,380,733.82
09/30/2013 $16,738,183,526,697.32
09/30/2012 $16,066,241,407,385.89
09/30/2011 $14,790,340,328,557.15
09/30/2010 $13,561,623,030,891.79
09/30/2009 $11,909,829,003,511.75(80% Of All Debt Across 232 Years Borrowed By Reagan And Bushes)
09/30/2008 $10,024,724,896,912.49(Times Square Debt Clock Modified To Accommodate Tens of Trillions)
09/30/2007 $9,007,653,372,262.48
09/30/2006 $8,506,973,899,215.23
09/30/2005 $7,932,709,661,723.50
09/30/2004 $7,379,052,696,330.32
09/30/2003 $6,783,231,062,743.62(Second Bush Tax Cuts Enacted Using Reconciliation)
09/30/2002 $6,228,235,965,597.16
09/30/2001 $5,807,463,412,200.06(First Bush Tax Cuts Enacted Using Reconciliation)
09/30/2000 $5,674,178,209,886.86(Administration And Congress Arguing About How To Use Surplus)
09/30/1999 $5,656,270,901,615.43(First Surplus Generated...On Track To Pay Off Debt By 2012)
09/30/1998 $5,526,193,008,897.62
09/30/1997 $5,413,146,011,397.34
09/30/1996 $5,224,810,939,135.73
09/29/1995 $4,973,982,900,709.39
09/30/1994 $4,692,749,910,013.32(First Thing Clinton Did.....Raise Taxes in 1993 while he still had a Dem Congress)
09/30/1993 $4,411,488,883,139.38 ( Debt Quadrupled By Reagan/Bush41)
09/30/1992 $4,064,620,655,521.66
09/30/1991 $3,665,303,351,697.03
09/28/1990 $3,233,313,451,777.25
09/29/1989 $2,857,430,960,187.32
09/30/1988 $2,602,337,712,041.16
09/30/1987 $2,350,276,890,953.00
09/30/1986 $2,125,302,616,658.42
09/30/1985 $1,823,103,000,000.00
09/30/1984 $1,572,266,000,000.00
09/30/1983 $1,377,210,000,000.00
09/30/1982 $1,142,034,000,000.00(Total Debt Passes $1 Trillion)(Reagan Slashed Tax Rates To Pre Depression Levels)
09/30/1981 $997,855,000,000.00

 

[Kosh]

"The Congressional Budget Office and the Office of Management and
Budget have both forecast sizeable budget surpluses over the next 15
years. Fiscal year 1998 surpluses already have reduced the Government's
borrowing needs, causing Treasury to adjust its debt management
policies. Last year, Treasury suspended auctions of 3-year notes and
reduced the frequency of 5-year note sales.

As large surpluses continue to reduce the Government's borrowing
needs, Treasury must consider how its policies will affect taxpayer
costs and capital market efficiency. Consequently, Treasury is
exploring new debt management polices. On August 4, 1999, Treasury
announced regulations (31 CFR Part 375) to allow Treasury to buy back
outstanding debt before it matures. In essence, Treasury would buy back
old debt and re-issue new debt in its place. Such a policy would not
reduce the level of debt, but it may help Treasury achieve other goals,
such as improving liquidity and achieving targeted cash balances. A
debt buyback program would increase short-term costs, but should
generate long-term budgetary savings.

In announcing the hearing, Chairman Archer stated: ``With large and
growing budget surpluses projected over the next 15 years, we have an
historic opportunity to reduce our national debt. As the Administration
explores adjustments to its debt management policies, including a new
proposal to buy back outstanding debt, the Congress needs to remain
engaged in decisions regarding the level of debt and its costs to the
taxpayer, as well as the growing debate concerning the efficiency of
global and domestic capital markets. Our goal should be to reduce
significantly the national debt at the least cost to the taxpayer.''

The Congressional Budget Office reported budget surpluses of $69 billion in 1998, $126 billion in 1999, and $236 billion in 2000, during the last three years of Clinton's presidency:

NOT TO WORRY:

George W. Bush took over, gave the wealthy two tax cuts in 2001 and 2003 and shot this little phenomenon in the foot!

See the far left provides a link that does not support their religious narratives..

The government can have a surplus even if it has trillions in debt, but it cannot have a surplus if that debt increased every year. This article is about surplus/deficit, not the debt. However, it analyzes the debt to prove there wasn't a surplus under Clinton.

For those that want a more detailed explanation of why a claimed $236 billion surplus resulted in the national debt increasing by $18 billion, please read this follow-up article.

Bill Clinton Legacy of Myththology and Surplus.

And that is from the far left CNN...

Another far left drone fail thread..

Horse Shit!!!! Typical Right Wing Response to absolute proof that tax cuts run up the debt:

..........................Total U S Debt...........................

09/30/2014 $17,824,071,380,733.82
09/30/2013 $16,738,183,526,697.32
09/30/2012 $16,066,241,407,385.89
09/30/2011 $14,790,340,328,557.15
09/30/2010 $13,561,623,030,891.79
09/30/2009 $11,909,829,003,511.75(80% Of All Debt Across 232 Years Borrowed By Reagan And Bushes)
09/30/2008 $10,024,724,896,912.49(Times Square Debt Clock Modified To Accommodate Tens of Trillions)
09/30/2007 $9,007,653,372,262.48
09/30/2006 $8,506,973,899,215.23
09/30/2005 $7,932,709,661,723.50
09/30/2004 $7,379,052,696,330.32
09/30/2003 $6,783,231,062,743.62(Second Bush Tax Cuts Enacted Using Reconciliation)
09/30/2002 $6,228,235,965,597.16
09/30/2001 $5,807,463,412,200.06(First Bush Tax Cuts Enacted Using Reconciliation)
09/30/2000 $5,674,178,209,886.86(Administration And Congress Arguing About How To Use Surplus)
09/30/1999 $5,656,270,901,615.43(First Surplus Generated...On Track To Pay Off Debt By 2012)
09/30/1998 $5,526,193,008,897.62
09/30/1997 $5,413,146,011,397.34
09/30/1996 $5,224,810,939,135.73
09/29/1995 $4,973,982,900,709.39
09/30/1994 $4,692,749,910,013.32
09/30/1993 $4,411,488,883,139.38 ( Debt Quadrupled By Reagan/Bush41)
09/30/1992 $4,064,620,655,521.66
09/30/1991 $3,665,303,351,697.03
09/28/1990 $3,233,313,451,777.25
09/29/1989 $2,857,430,960,187.32
09/30/1988 $2,602,337,712,041.16
09/30/1987 $2,350,276,890,953.00
09/30/1986 $2,125,302,616,658.42
09/30/1985 $1,823,103,000,000.00
09/30/1984 $1,572,266,000,000.00
09/30/1983 $1,377,210,000,000.00
09/30/1982 $1,142,034,000,000.00(Total Debt Passes $1 Trillion)(Reagan Slashed Tax Rates To Pre Depression Levels)
09/30/1981 $997,855,000,000.00

Yes we know far left drone you spam that all over the board, but the narrative does not hold up to reality..

Debt Under Obama Up $8,000,000,000,000

Yep easy to cut and paste..

Another far left drone narrative fail..

 

[ScienceRocks]

Face it your wars and tax cuts caused the debt. Now you're blaming everything else and attempting to reflect the blame.

Your party sucks.

 

[Kosh]

Face it your wars and tax cuts caused the debt. Now you're blaming everything else and attempting to reflect the blame.

Your party sucks.

Says the far left drone that supports Obama's illegal wars..