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Governments enjoying surpluses have a very strong temptation to splash money around, and while tax cuts are always appealing, cutting taxes at the top of a boom runs the real risk of creating a structural deficit when the boom subsides.
For one thing, one of the wonderful things that we now have is instead of the huge budget surpluses that President Clinton left us with, we now have these huge deficits that we're going to be facing into the future.
The rich get richer. Not only because they have surpluses with which to invest, but because of the overriding emotional release they experience from having wealth.
Soaring prices for crude oil, falling production surpluses, wild speculation in commodities, a rush into the precious metals, turmoil in the Middle East, assertive oil producers: it is 1973-74 all over again, and at dictation speed.
President Clinton was able to achieve budget surpluses despite a divided government.
But if they want to really think about the fiscal future of this country, then think about how we have moved from hundreds of billions of surpluses to hundreds of billions of deficits.
Back in those days, in the fifties and sixties, countries had balance of payment's deficits or surpluses, those were reflected much more than today in movements of reserves among countries.
Robert C. Solomon
In addition to myself and a number of others, President Clinton talked about the deficit and the debt issue. And he pointed out, really, what I pointed out, which is that when he left office, we actually had projected surpluses for a long period of time, because when he put together his economic plan, he did it in a balanced way.
Chris Van Hollen
It takes four months to ship food aid and 40 percent of the cost is in the shipping. People cannot eat shipping costs. We have had people die when there are surpluses in the markets.
Managing university finances is very tricky business. We're nonprofits. We're not supposed to accumulate large surpluses.
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