Exactly when did we have a real surplus with this governement?

Question

Im confused, as someone that knows a thing or two about the way money works, can somebody tell me when we paid off the national debt? All they did was balance a budget (something most of us do on a weekly basis) I hear so much about a surplus from the democrat freinds I have, and so much about growing our way clear of a recession from my republican friends.. As a former "collection agent" I never seen the national debt paid off... From where i sit its like owing a bookie 10 large and thinking you have it made cause you have an extra 5 bucks from your budget....

Answer 1

There has never even been a surplus in the budget let alone being debt free. There can never be a surplus as long as the social security funds are treated as regular funds. The " surplus " was only a projected surplus meaning it had not happened but it might if revenues remained the same and spending did not increase.

Economics is not the long suit of our representatives nor is it among most pundits.

Answer 2

We never have. that was smoke and mirrors. The only year they could possibly say that is 1999. Then the total surplus for the year was $.7 billion. It was the $99.2 billion surplus in the Social Security Trust Fund that enabled the government to report a budget surplus of $69.2 billion. During a year in which the United States Government spent $30 billion more than it collected in general revenue, it announced that there was a $69.2 billion overall surplus!

Answer 3

It was a PROJECTED surplus, and it required down-sizing the military, cutting spending (by sending welfare to the states to fund) and over-taxing the middle class. And it did not include repaying monies "borrowed" from the Social Security trust.

The national debt will never be paid off.

Answer 4

There is a difference between surplus and not running a deficit. If anyone doubts this, ask any housewife!

Answer 5

During Clinton.

Answer 6

july 4,1776 we had a surplus. it has gone down hill since.