Reply To: Debt and Deficits


Hello Haley11,

Your question on debts and deficits would fall under professor Herbener’s purview. If you look into the history of our government raising the debt ceiling, you will find the 6 trillion increase is fact. The true debt however is anyone’s guess. Given everything that is left out of the equation, there are estimates between 40 and 120 trillion in unfunded liabilities. I would also find shrinking deficits as suspect. The government is covering it’s shortfalls with IOU’s and confusing its Orwellian sheep with similar terms like deficit and debt.
The shrinking deficit is basically being paid for with future taxes, not the sort of thing I would hang my hat on.

On the Clinton surplus, I am reminded of a Richard Epstein quote ” Increase revenue does not go to discharge debts, it goes to new debts”. I don’t know how to do links yet but if you look up surplus hoax on you will find some interesting reading.

Like you, I also wasted my time pointing my finger at one party or another, all that will get you is arthritis. If I am correct you are more right leaning and you will come to find you have nothing in common with those at the top of the republican party. They are all far to the left.