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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction
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To: TimF who wrote (65796)4/30/2008 6:50:25 PM
From: rich evans  Read Replies (1) of 90947
 
All taxes paid to the GOV from any source and their are about 103 trust fund sources is as you state income to the government and all payments for any reason whether social security , transportation , medicare, defense or any other reason are outlays for the budget. This is the law under the Unified Budget act of 1974 passed by the DEms during Nixon Presidency. It is all one big pot for all taxes in and all payments out. Thus the social security trust fund and transportation trust fund etc are just accounting methods to keep track of each area. The notes paid by the government to keep track of money used from any trust fund are nonnegotiable and not considered extrinsic debt of the government and our meangingless except as an accounting function. Basically the debt of the US is about 4.5 trill of which 1/2 his owned by foreign entities. The remaining 4.5 trill is intrinsic and means nothing. What does mean something is the unfunded liablities the government has promised into the future for medicare, medicaid, SS etc. This will come out of all taxes and deficits in the future. But can be changed by congress at any time according to the supreme court. You have no personal pension rights in SS.
Rick
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