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Politics : Ask Michael Burke
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To: Freedom Fighter who wrote (107775)5/29/2007 3:17:31 PM
From: Don Lloyd  Read Replies (1) of 132070
 
Wayne,

Hopefully that's a rare USAToday article, where it is so economically illiterate that it makes the government quotes look good by comparison.

If the imaginary Social Security Trust Fund experiences a 28% shortfall in 2042, that is NOT a current debt, and there is nothing that can or should be done to prefund it. Taxes can be increased in 2042, borrowing can be increased in 2042, the payouts can be cut in 2042, or the payouts can be partially made with newly printed money.

Regards, Don
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