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Born in the USA! Wrote: Jan 27, 2013 10:55 PM
No. You do not understand the difference between debt and a deficit. A deficit is having more expenditures than revenues in a given budget (usually annual). Debt is the total amount owed from all previous budgets. Look it up. It is textbook. So in other words, a government can have a surplus and debt. Again, not opinion or made up, it is textbook.
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Colonialgirl Wrote: Jan 27, 2013 10:10 PM
Its only a surplus UNTIL they pay the debts currently coming due during this fidcal year and then they'll be even deeper in the hole than before .
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Born in the USA! Wrote: Jan 27, 2013 4:29 PM
Uh, a surplus is not meaningless. You can't pay off debt until you have surpluses. That's something I wish the country realized back in 2000.
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SACRAMENTO, Calif. -- Gov. Jerry Brown gives great speeches with unusual quotes that never let the listener forget he is a former seminarian. In that spirit during his State of the State address Thursday, Brown quoted jurist Oliver Wendell Holmes, told a story from Genesis and marveled at the "mysterious cycle in human events" observed by Franklin D. Roosevelt. He moved on to Michel de Montaigne and Irish poet William Butler Yeats. But then Brown ventured into the land he rarely visits, the land of words with one syllable. He ended his address before a joint session of the California Legislature...
Gov. Brown Does the Sacramento Choo-Choo