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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (103773)	11/2/2011 10:15:18 PM
From: koan	Read Replies (2) \| Respond to of 149317

You are being illogical. Our government borrowed that money and has to pay it back to the retirees, just like they have to pay back everyone else. You are confusing the issue with the fact the money was borrowed. That is a none issue. Even if, and especailly because, we should be raising taxes on the rich. The rich are who bush gave the money to, he borrowed from social security. And just raise the cap and it is good for 75 years. Why would you not raise the cap? You are bringing right wing gobbledygook into the conversation. <<The CBO talks about using up the Social Security Trust Fund. But as we all know, the Trust Fund is empty. It holds IOUs, which are not the same as cold hard cash or investments. When the IOUs are redeemed to pay out money to retirees, the Treasury has to come up with the cash. If they can't do it through general revenue funds, then they have to borrow the money or print it. That is what is happening now.