- Feb 12, 2007
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Another idiot spewing the MYTH of the clinton 'surplus'
So enlighten us please regarding the convoluted formula that the Republicans have used to debunk the surplus. I'd love to see it again.
It's not a convoluted formula. If the government practiced proper GAAP accounting for budgeting, the unfunded future liabilities would show up as accruals and cause a deficit.
The Financial Report of the United States provides a much more accurate accounting, and it's not pretty.
U.S. GAO - Fiscal Year 2009 Financial Report of the United States Government
Check out the back issues - the excess liabilities appear from 1995 (the first report) going forward.
There is no Clinton Surplus.