Bill Clinton's Big Budget Surplus Debunked
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You just said Bill Clinton lied about the surplus yet at 2:30 you use that very same chart.
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Clinton also got a lot of fake tax revenue from the Dot-Com bubble.
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According to the treasury the national debt still continued to rise in 1999:
Date Dollar Amount
09/30/2001 5,807,463,412,200.06
09/30/2000 5,674,178,209,886.86
09/30/1999 5,656,270,901,615.43
09/30/1998 5,526,193,008,897.62
...
There NEVER was a debt reduction in any Clinton year. The US LOST money every Clinton year.
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Hey, 1.9 Billion is not a big surplus, but it's better than loosing money.
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Surplus vs Deficit
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treasurydirect.gov has all the facts you may need on how the national debt in calculated every year. please stop emailing me as well please. ive sent my final reply. Im not angry i just have had this same conversation alot over bill clinton on his wiki page. PolitiFact has one on this as well.
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@jschmidt0676 Actually deficit/surplus are terms relating to a budget, those figures are total debt.
You need a common reference point, i.e. 1990 dollars; as $1 in 1913 isn't = to $1 in 2001 Because of the time value of money, it's the very essence of capitalism.
Your figures don't compare apples to apples, if you made $800/w in 1950 and I make $1000/w today, I'm not really making more then you did.
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@cappercastro the debt did not go down. inflation has nothing to do with this at all. every year they report the deficit for that year and every year it went up. this info comes from the US treasury department at treasury-direct.
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@jschmidt0676 FYI the national debt actually decreased in 1999-2000 as inflation must be factored in.
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The only part of your video I object with; is that idea that somehow Clinton manipulated the books.
While not putting any SS surplus into actually assets is stupid, that was the case since its inception; Clinton didn't change anything in this regard.
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"Bill Clinton (democrat) was certainly better with the budget than the Bush's (both Republicans)."
That is a quote from this video which you are claiming is designed to make democrats look bad. Clearly Clinton was better than anyone since him has been with the budget as this video makes clear.
MaineWebNews 1 year ago