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View Diary: There will be no default on the national debt (113 comments)

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  •  I disagree (3+ / 0-)
    Recommended by:
    Hayate Yagami, Aspe4, JesseCW

    when he's been talking about cutting it since before he became president, and has offered it up for cuts on 3 separate occasions...then the most likely explanation is that he wants to cut it (even if only to "reduce the debt" or some other faulty reasons).

    •  I'm fairly confident (4+ / 0-)

      that lots of people will disagree.

      However, did you miss it when Obama insisted that SS was no part of the Debt?

      There are many people that simply hear what they want to hear, and disregard the rest.

      There are also things we can, and should criticise the President for, but suggesting that he wants to cut SS is not one of them

      He put the suggestion on the table, and I agree, that was shocking and should be resisted.

      I hope that the quality of debate will improve,
      but I fear we will remain Democrats.

      by twigg on Thu Dec 27, 2012 at 10:24:51 AM PST

      [ Parent ]

      •  he said it isn't part of the debt (0+ / 0-)

        but he keeps trying to cut it anyway. there are other reasons he might want to cut it besides the debt, such as "strengthening it", or getting a "grand bargain", or other such nonsense.

        But listen, you refuse to pay attention to both his words and his actions over many years, because you simply don't want to believe it.  So I'm pretty sure there's no use discussing this with you any more since it's clear you are only going to believe what you want to believe.

        •  SS Does Affect the Debt (0+ / 0-)

          It doesn't increase it though. The SS surplus, by law, must be invested in treasury bonds. When the chained CPI happens, the lower COLA will mean increased revenue for SS that will be invested in treasury bonds so that's less money the gov't has to borrow from foreign countries or from private individuals. Thus it will appear as if they've cut borrowing since more of it will be intra-governmental, i.e. from SS. That's the only reason I can think of that the Dems and Repugs want to enact chained CPI.

          Most of the late 1990's budget surplus was from increased SS payroll tax payments.

          "The problem with posting quotes off the Internet is you never know if they're genuine."--Gen. George Washington at the Battle of Gettysburg, February 30, 1908

          by Aspe4 on Thu Dec 27, 2012 at 11:23:50 AM PST

          [ Parent ]

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