Skip to main content

View Diary: Nadler: Fire Alan Simpson (174 comments)

Comment Preferences

  •  It's also helped pay for wars. (3+ / 0-)
    Recommended by:
    Cartoon Peril, maryabein, Wom Bat

    starting with Vietnam.  That's when they started dipping into the trustfund.  We always have money for wars.

    •  Lesser people also fought the wars (2+ / 0-)
      Recommended by:
      magnetics, JesseCW

      You have exactly 10 seconds to change that look of disgusting pity into one of enormous respect!

      by Cartoon Peril on Thu Aug 26, 2010 at 03:13:43 PM PDT

      [ Parent ]

    •  Money is fungible (1+ / 0-)
      Recommended by:
      Robobagpiper

      By which I mean you can't tell whether or not a particular tax dollar went to pay for a war, or for Amtrak.

      In theory, there is no difference between theory and practice; but in practice, there always is a difference. - Yogi Berra

      by blue aardvark on Thu Aug 26, 2010 at 03:19:29 PM PDT

      [ Parent ]

      •  S.S. was first raided during the Vietnam War. (1+ / 0-)
        Recommended by:
        Cartoon Peril

        Of course we don't know exactly which dollars went for what, but we do know that it made the deficit look smaller at a time when we were engaged in a very unpopular war.  It was Lyndon Johnson who was first to put the S.S. surplus in with all the other money and write I.O.U's for the trustfund.  S.S. has had a surplus every year since its existence except of course, for this year.  This is the first year that S.S. has had a deficit.  I guess they spent all those surpluses on other things.  Ronald Reagan raised S.S. taxes and said that he was going to save that money for when the boomers retired.  No money was saved, and now we have a S.S. deficit for the first time ever and no money saved for it.

         The feds don't mind taking money out of the trustfund, but putting it back is another thing.  It's something the GOP and people like Simpson don't want to do, ever.  George W. Bush reminded us that all those I.O.U.'s are just paper.

        •  It went to t-bills, safest investment on earth (2+ / 0-)
          Recommended by:
          denise b, jennylind

          Seriously, what did you think they were going to bury a coffee can full of money in the backyard?

          The 1983 legislation was extremely clear. The money would be collected and invested in government treasury bills. This was by far the safest and best place to put the money.

          The problem is assholes like Bush saw this extra money and decided to hand it out in tax cuts, the vast majority of which went to rich people. So now instead of paying us back, they want to pretend the money is gone.

          It is one of the oldest con-jobs in the world.

          Funny how they never disparage the t-bills owned by China or the Saudi princes. They only pretend like the money invested by the working class is gone. Funny how that works.

          Everything I write is within a margin of error of precisely 100%.

          by Bailey Savings and Loan on Thu Aug 26, 2010 at 04:20:56 PM PDT

          [ Parent ]

        •  What exactly would you like them to have done (0+ / 0-)

          with the trust fund? You have to put money somewhere. Where do you think would have been preferable, and why?

          The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. --Bertrand Russell

          by denise b on Thu Aug 26, 2010 at 09:10:12 PM PDT

          [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site