I think we would be far better off than we are now. The underlying rot of malinvestment is still present and the quantative easing is just a means of dilluting the poison through inflation.

This is the only time I’ve read here that Clinton truly had a surplus. All other authors have pointed out that the surplus was only “accounted” for by fraudulent bookkeeping practices.

As I understood the other Austrians, Clinton counted all the surplus SS taxes (greater coming in than the payments going out) as both money into the “trust” fund but also into the general fund, thereby counting it twice.

Clinton also was in charge during the dot com bubble which he handed off to Bush. Clinton was just lucky to be in office before the big old SS Ponzie scheme got blown wide open. But he knew full well the number of “investors” was getting too numerous to ever pay off.

Of course, now that SS in is less than SS out, this trick can’t be used anymore, and everyone knows that the trust fund is a mere scrap of paper with a number written on it in some bureaucrat’s desk.

Bottom line is we’re just talking about who was more evil, Bush or Clinton.

Sione