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Stan,<br> <br> When Bush came into office there was a Budget surplus that could have been used to make early payments on the national debt. Sort of like taking your extra income and making extra payments on your car loan. You still owe on the loan, but you owe less principle and will end up paying less interest. <br> <br> Yearly budget deficits and surpluses are not what would keep us out of the EU. It is the ratio of our national debt to GDP that is the measuring stick. We have something like $15 trillion in GDP and will have something like $10 trillion in national debt in 10 years, if you believe the long term CBO forecasts. I happen to think they are low-balling it. This means our Debt to GDP ratio is 2/3 or 66%. I believe the EU caps this ratio at 60% for new entrants. <br> <br> Most smart people understand that Bush spent way to much money. I believe it is the main reason the GOP got creamed in the moderate voters column on election night for the past 2 cycles. But please understand the difference in budget surplus and national debt. Our country will be better off when people are educated about basic economic theory and practice.
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