Originally Posted by
full of luv
It's not the "rate" that we were discussing, it's the fact that the US FEDS tend to spend every cent (plus borrow more to spend) as it comes in vice what the Norwegians have accomplished by setting up a trust fund that now tops $1 Trillion USD and will continue to spin off income for the Norwegians to enjoy for the future generations.
The rest of the world, US included, spends everything and then some on current expenses.
That ship has sailed since the '50's though and our future generations will have to pick up the tab.
Erm, did you even read the post I quoted? Once again:
Originally Posted by
Flytolive
Imagine if the US government had done something similar with our federal land's mineral rights instead of giving it away to corporations for next to nothing.
It's clear that he seems to think that the government is giving away mineral rights for nothing (he's incorrect), which is a tangential subject.
As for the US spending everything plus some since the 1950s - that is an incorrect statement. President Eisenhower is the last President in power when the US ran a federal budget surplus - you should have stated since the 1960s, since the US has run a federal budget deficit every year since JFK took office. Clinton had a unified budget surplus, but when the Social Security Trust Fund is removed from that, he ran a federal budget deficit.