Posted on 07/07/2005 2:54:27 PM PDT by SierraWasp
The deficit = debt year 1 - debt year 2
Do you need an example?
1959 debt.. $290,797,771,717.63
1960 debt.. $290,216,815,241.68
1960 ................ $580,956,475.95 surplus
1999 debt.. $5,656,270,901,615.43
2000 debt.. $5,674,178,209,886.86
2000 .............. $17,907,308,271.43 deficit
MEasured June over June, that *is* a 17 billion dollar deficit; I had seen one showing a 19 billion dollar surplus, including intregovernmental holdings, but I have to concede that if the surplus was so short lived that you have to pick the right months to show it, it wasn't much of a surplus.
The treasury runs its fiscal year the same as the government. Funny how the Clinton administration got everyone believing there was surpluses during his administration? There are a few days now when the Bush adminstration is bringing in more money than it spends.
Now, if we could just get SS 'borrowing' and the Iraq war included on the budget, that figure might mean something.
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