View Single Post
#3
Old 10-28-2012, 02:46 AM
Virgil Caine
Undisputed Champion
 
Join Date: Sep 2003
Location: Tokyo, Japan
Posts: 14,149
Rep Power: 93 Virgil Caine has a reputation beyond repute Virgil Caine has a reputation beyond repute Virgil Caine has a reputation beyond repute Virgil Caine has a reputation beyond repute Virgil Caine has a reputation beyond repute Virgil Caine has a reputation beyond repute Virgil Caine has a reputation beyond repute Virgil Caine has a reputation beyond repute Virgil Caine has a reputation beyond repute Virgil Caine has a reputation beyond repute Virgil Caine has a reputation beyond repute
Points: 67,184.53
Bank: 7,151,955,914,101,257.00
Total Points: 7,151,955,914,168,442.00
A gift from The Last Emperor LOL! - jakkups  Happy birthday homey - mangler  Cocktail hour - mangler  Sip this wine - mangler  more drank - MANGLER 
Thanks for the stream dude. - Naps  Happy Birthday! I hope you have a wonderful day - Bossy  one of boxingscene's best posters - Freedom.  Happy Holidays Nodogoshi - !! AI-Holmes!!  Happy holidays bro! - led* 
10 years... impressive :beerchug: - jose830  Congrats on 10 years. - deanrw  To a well-read member - -Weltschmerz-  No Message - Run 
Bone Marrow Donation - Childhood Depression - Depression - Environment - Eye Injury Prevention - Glaucoma - Kidney Cancer - Kidney Disease - Kidney Transplantation - Leukemia - Lyme Disease - Mental Retardation - Missing Children - Organ Donation - T - DiLLiNGER 
Default

In fact, Stewart's point wasn't entirely wrong, but he got it mixed up (I'm sure because someone else told it to him and he never really understood). What he might've been attempting to get at was the projection that if the Clinton surplus would've been maintained the deficit would've been eliminated.

But, this point is also counter-factual. The budget surplus/deficits are also very affected by macroeconomic conditions. When times are good, tax revenues are higher. This was basically what created the Clinton surplus. It is also probably the most problematic circumstance with respect to the currently rising debt.
Reply With Quote
Virgil Caine is offline