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Politics : Formerly About Advanced Micro Devices

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From: koan

7/1/2014 3:58:09 AM

Read Replies (2) of 1578285

Aonther smart poster:

"

The SS taxes in excess of current benefit payments has been used by SS trustees to buy US bonds. It doesn't matter how Congress spent the cash received from the Trustees, the SS trust fund owns US bonds. When the trust fund needs to start redeeming bonds to pay benefits, either they will sell the bonds back to the US treasury, or they will sell them to other investors. The US will not default on the SS bonds, period.

The current annual US deficit has been cut by about two thirds from when Obama took office, and is projected to be around 2.8% of GDP this year. That % can be run year in year out for the foreseeable future without harming the economy, and arguably deficits of that amount will help grow the economy out of the lackluster growth rate for the past few years.

Yeah, the total size of the US deficit is higher than it should be, reflecting the criminal war deficits Bush ran and the Bush-Obama deficits resting from the 2008 financial meltdown. But we will grow the economy over time so that the absolute size of the deficit will ultimately not matter.

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