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View Diary: Fiscal cliff discussions break down after Republicans demand Social Security cuts (249 comments)

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  •  I think what people mean by this is that Bush (2+ / 0-)
    Recommended by:
    squarewheel, IM

    acted like SS was revenue instead of a trust fund that had to be paid back. At the same time he treated the Iraq war as extra budgetary, and the GOP would rail about paying back SS.

    Fuzzy math and spin, but I see your point that it has devolved into a soundbyte and the nuance is lost.

    •  One can fault the wars... (0+ / 0-)

      ...without dramatizing it by dragging the SS trust fund into it. Just as one can fault the debt without dragging the SS Trust Fund into it (except, if one desires, to note that it should be allowed to invest in Enron, Apple, GM, WebVan, etc. because that is so obviously a better idea.)

      Yes, the debt is too high (IMHO). The wars are a partial, but certainly not the sole, cause of that.

      The only reason this might impact the SS Trust Fund is if the US defaults on its debt. It really didn't matter if Chinese investors or the SS Trust Fund had invested in the defaulting debt -- the big problem is that we defaulted.

      The common view here is "the debt isn't too high, revenues are too low and that's easily fixed by [insert favorite solution here]". If that's the case, the SS trust fund is at no risk.

      All that money the SS trust fund invested in US Securities counts in the debt -- it's not hidden to investors who are still willing to take an (inflation adjusted) loss in exchange for safety.

      •  I get all of that (0+ / 0-)

        What you seem to be ignoring is that a major Republican solution to debt is to reduce the size of Social Security....the entity we owe. THAT is the raid.

        The history linking wars and SS- cutting was written during the Bush administration.

        You cannot just look at the economics and ignore the politics. It is unrealistic. We are unable to cut the Chinese. SSI....yes, it was attempted and will be again. It is indeed an attempted raid and is slimy.

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