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View Diary: Hell, No! Social Security Contributes Nothing To Deficit (119 comments)

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  •  The Lock Box wasn't One either (3+ / 0-)
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    Puddytat, Roadbed Guy, Catte Nappe

    Gore wasn't actually proposing to do anything different than Clinton's 'Save Social Security First' and neither was going to make any operational changes in how Social Security handled its surpluses.

    Instead Lock Box was a metaphor or at best a proposal to change budget rules in regards to SS surpluses in an effort to fight off Republican attempts to do what Bush immediately proceeded to do-use Social Security surpluses to sell a "it's your money" tax cut.

    Which would have been fine absent a certain Supreme Court decision. As it was it just fed into the Phony IOU and Reagan stole the Trust Fund narratives that ironically allowed Bush to actually 'raid' it to cover his tax cuts.

    In reality there is no stronger legal lock box than the current Trust Fund allows. I mean either Full Faith and Credit exists or it doesn't and no Congress can protect the Trust Fund in a way not reversible by a future one.

    SocSec dot.Defender at - founder DK Social Security Defenders Group

    by Bruce Webb on Mon Apr 08, 2013 at 09:39:21 PM PDT

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