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View Diary: The Demographic Horror Story and Other Children’s Tales (26 comments)

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  •  The problem is that the social security trust (2+ / 0-)

    was raided and the government is trying to "fix" a problem that was already fixed. There is no problem with Social Security that can't be fixed by paying back what the government raided from it. Of course, we had to go spend that on wars and other shit, but it's still worth doing.

    If debt were a moral issue then, lacking morals, corporations could never be in debt.

    by AoT on Fri Mar 29, 2013 at 11:47:04 AM PDT

    [ Parent ]

    •  Correct. (3+ / 0-)
      Recommended by:
      AoT, Don midwest, aliasalias

      But the 'lets start generational discord' propaganda had to be addressed.

      "Til you're so fucking crazy you can't follow their rules" John Lennon - Working Class Hero

      by Horace Boothroyd III on Fri Mar 29, 2013 at 11:48:43 AM PDT

      [ Parent ]

    •  This is incorrect (0+ / 0-)

      The revenue available for future social security beneficiaries is equal to payroll tax collections, taxation of benefits, and income form the Trust funds built up between 1984-2009. Every dollar in the Trust funds is owed to Social Security beneficiaries, and there is nothing about spending in the rest of the government that can change that.  In other words the bond obligations are real. I am pretty sure Dean baker agrees with this.

      Now you could argue that  the Treasury should have used the proceeds from excess payroll taxes increase national savings or invest more in improving future productive capacity (say by funding all our infrastructure needs). You could argue we should have a more fiscally responsible budget. But nothing about what has gone on in the rest of budget changes the fact that the Trust Fund assets are owed to Social Security beneficiaries.

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