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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (45081)	1/31/1999 9:16:00 PM
From: Ed Beers	Read Replies (1) of 132070

MB, I have been trying to figure out the long term implications of running a surplus in social security now. If currently collected only what currently needed then we would be saving (loaning to the federal government) any funds. We would eventually need to either raise SS tax rates or raid the general fund. As it is, we are "saving" for our future needs but loaning all of the savings to the Federal Government. Where will the Federal Government get the money to repay the loans? Well by raising taxes or squeezing other programs. I think the net effect of SS surpluses is to encourage our government to spend more now by reducing interest costs which just makes the future look worse. Ed

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