Let's look at a few things:
In FY 2000, the Clinton Administration raided 8 plus trust funds to the Tune of $246.5 Billion Dollars (U.S. Treasury) essentially loading up those "lock boxes" with $246.5 billion dollars worth of IOU's, it was that raid that lead to the "budget surplus" and despite all of that, they still didn't pay down one dime on the National Debt, and in fact in FY 2000, the National Debt Increased $18 Billion Dollars. Why did it increase $18 billion dollars DAX?? Because the decrease in the public portion of the national debt, was offset by the increase in the intergovernmental holdings of the national debt, they borrowed $246.5 Billion dollars from those trust funds though the vehicle of U.S. treasuries that have to paid back.
Let's break it down:
In FY 1998 the Public Portion of the National Debt Decreased $55.5 Billion Dollars (hooray) the Intergovernmental Holdings of U.S. Debt INCREASED $168.98 Billion Dollars . . . outcome, an increase of the National Debt of $113 Billion (boo).
In FY 1999 the public portion of the National Debt Decreased $97.8 Billion Dollars (YEAH), the Intergovernmental holding of U.S. Debt INCREASED by 227.8 Billion Dollars (Boo). Thus increasing the overall national debt by $130 Billion.
In FY 2000 the public portion of the National Debt decreased $230.8 Billion Dollars, the Intergovernmental Holdings of U.S. Debt increased $248.8 Billion dollars. Increase in overall National Debt . . . $18 Billion Dollars.
In FY 2001 the public the public portion of the national debt decreased by $66.08 Billion, the Intergovernmental Holdings of U.S. Debt increased by $199.8 Billion. Thus an increase of total U.S. National Debt of $133 billion dollars.
Debt held by U.S. Gov't entities still has to be serviced just like all other debt.
As of this last Friday, the Federal Gov't owes it's own entities $4.517 Trillion Dollars. It owes "public" entities $8.336 Trillion Dollars.
So anyone want to talk about back loading??