Quote:
|
Originally Posted by Workshop_Willy
Not really. The "surplus" was a projection based on decreased defense spending and the largest tax hike in US history, passed in 1994 by the last democratic congress. In addition, congress (which has the main power in budgetary matters as if you didn't know) has been controlled by conservatives since the 1994 mid-term elections, largely as a backlash to the tax hike. So the "surplus" (ha ha ha) not only didn't really exist, what substance it had was not due to either conservative or liberal policies alone -- kind of a gray area in which resided a ghost.
Check your facts before accusing someone else of living in a black and white world.
|
You are correct. The surplus was a paper surplus projected over a ten year period...with the assumption that everything would go well over the ten year period...which of course was a foolish assumption to make.
The money that President Bush and the Congress decided to refund to the people was real monies that the Governmnet did not actually have in surplus and with the brief downturn in the economy...9/11...Afghanistan...Iraq...and multiple national disasters...in addition to the "trickle down effect" being BS...we now have hugh federal budgetary deficits...and a new cap on the National Debt. This administration is doing even more damage to the financial well being of the country than President Reagan did when he quadrupled the National Debt during his terms of office.