PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: jlallen who wrote (311993)	10/29/2002 6:20:30 PM
From: J_F_Shepard	Read Replies (3) of 769667

Re: Social Security into general fund.." It was Lyndon Johnson and the Democratic-controlled House and Senate." First of all I'm surprised at you plagiarizing something that's been circulating on the net for weeks..... Second, your wrong...it appears to have happened under Ronnie Reagan's watch.....see extract below from: concordcoalition.org "BUDGET FACTS: * A Presidential Commission headed by Alan Greenspan recommended in 1982 that payroll taxes be increased in order to partially pre-fund the retirement of the Baby Boomers, the largest generation in American history. But rather than saving the surpluses to prepare for the massive demographic shift, Congress has borrowed them ever since for other government programs and to make the federal deficit appear smaller. * Since 1983, $647 billion has been borrowed from Social Security's trust fund to lower the size of annual U.S. budget deficits. Money borrowed from the trust fund will have to be paid back through tax increases or benefit cuts once the Boomers start collecting their Social Security retirement checks."

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