True, but the actual number was quite a bit higher even then. They were excluding Social Security and Medicare. At that time people were paying in more than was going out, but that money was NOT saved. It went into the general fund and they replaced it with a simple Treasury IOU bond. In other words--we have been spending far more than we were takeing in, and this goes back at least as far as Johnson in the 60s. I am not partisan here--it is both parties that sold us out and were irresponsible over a long time.
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Today's Featured Article - Gatherin of the Orange - by Rick Nikolich. In July of 1998 I was talking to fellow Allis Chalmers collector Mike Schilling about the annual "Gathering of The Orange" AC show coming up in August of 1999. He got this wild idea that we should get a convoy of AC tractors and drive them from Charlotte, Michigan 105 miles to LaGrange, Indiana.
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