The Looming Issue

[Fishpart]

Originally Posted by rphud

Sometimes a pilot friend of mine's saying comes to mind...."It's always darkest right before you hit the trees."

Maybe Hillary can fix it just like Bubba did.

The way Bubba fixed the budget was actually quite ingenious and I doubt his Worst Lady can do the same.

Through a shrewd sleight of hand, when the Roth IRA was created, it included the option to "roll over" your traditional IRA and pay the taxes. Right a the peak of the tech bubble, Billion$ in previously untaxed money was rolled over and taxed at 30% of its market value (which happened to be close to the peak), the governments coffers were flooded with unplanned revenue, the budget appeared to be balanced and the sheeple were happy.

[detbuch]

Originally Posted by Fishpart

The way Bubba fixed the budget was actually quite ingenious and I doubt his Worst Lady can do the same.

Through a shrewd sleight of hand, when the Roth IRA was created, it included the option to "roll over" your traditional IRA and pay the taxes. Right a the peak of the tech bubble, Billion$ in previously untaxed money was rolled over and taxed at 30% of its market value (which happened to be close to the peak), the governments coffers were flooded with unplanned revenue, the budget appeared to be balanced and the sheeple were happy.

Yeah that option, which did not have an effect on the debt interest payment, was a one time thing which is no longer available. And the tech bubble burst anyway, so the illusory budget surplus was immediately cut in half and continued to dwindle into the Bush administration's budget problems which were exacerbated by 9/11. And the response to 9/11 required re-establishing a stronger military which had been diminished under Clinton, so needed more "spending" and stretching of the budget, etc., etc.

So, yeah, Clinton didn't "fix" anything, certainly not the rising national debt. The Clinton's were no less in bed with the big boys and big money than other politicians.