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  • From: Clansgian AT wmconnect.com
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Morning thought
  • Date: Wed, 2 Feb 2005 14:16:28 EST

In a message dated 2/2/2005 12:13:57 PM Eastern Standard Time,
lurine AT softcom.net writes:


>
> Site references. You keep talking about this law but I don't find it. I
> find references within the law to trust funds.
>

Don't have time to go over civics class 101 with you, Lynda. It is one of
the principles upon which government funding is based, it cannot hold money
obtained by taxation.



> Now, as to your statement that tax money has to be spent, that is not true.
> All federal moneys can be rolled over unless that particular funding acct.
> has rules otherwise.

Not true. If funding a appropriated for a certain project, it can be
disbursed over a number of years, but that year's portion must be reflected
in that
year's budget. The government is empowered to borrow money (and that is a
mistake) but it can in no wise carry a material surplus. It cannot hold cash
and
it cannot invest in the private sector as if it were a corporation or
individual. The so called "surpluses" when they occur are applied to the
government's
debt, which is not the same thing as what an individual would call a surplus.

James





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