snellspace: The Amazing Disappearing Surplus... was it ever really there?
How much of the projected surplus was based on estimated tax income from corporations that were misreporting their profit by billions of dollars? Remember, the "surplus" was projected before the crash of the technology industry, before the corporate scandals and before September 11th. My question is this: was the surplus ever real or was it wishful thinking based on an overinflated market and a naive belief that everything for the next decade would be rosy and never change? Personally, I don't ever think that the budget was ever balanced nor do I think that the surplus was ever a real thing. Keep in mind that the budget works in terms of projections rather than in terms of what is actually being spent. I'm sorry, I simply do not believe there ever was a real honest to goodness surplus.
Awesome. Never thought about it that way.
Tuesday, February 11, 2003
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