President Barack Obama Message Board

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Politics : President Barack Obama

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To: koan who wrote (128468)	12/5/2012 6:47:58 PM
From: RetiredNow	2 Recommendations Read Replies (1) of 149317

koan, Congress not only owes everyone else money, but they also owe $2.7 Trillion to OASI (SS and Medicare). Since SS is running a deficit every year, the Trust Fund has to cash in their Treasury securities by selling them back to the Treasury to be able to make payment on the cash outflows to retirees. Treasury has to get that money from somewhere. Typically, they simply issue more Treasuries on the open market, which is to say, payments to SS increase the overall Congressional deficit. SS deficits are being run. Those deficits add to the overall Congressional deficit. Those are facts. You can deny it all you want, but that's just plain immature. Deal with the world as it is, not as you want it to be. Once you accept that fact, then we can talk about what to do about it. You and I have good ideas on that. We can raise the retirement age or eliminate the payroll cap on taxes. All sorts of things are possible to make SS sustainable. However, one thing is clear. Something must be done. Hiding your head in the sand is not a good option.

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