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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (12931)	3/19/2012 12:07:05 PM
From: sm1th	1 Recommendation Read Replies (1) \| Respond to of 85487

What was that extra money collected for Tim? It was used to fund current spending in other parts of the budget.

To: Steve Lokness who wrote (12931)	3/19/2012 12:33:26 PM
From: TimF	1 Recommendation Read Replies (1) \| Respond to of 85487

To make that claim is to make a shame out of the fix that Reagan and other politicians put in place. It wasn't a fix, it was simply a tax increase to try to cover projected spending. The problem is that the money comes in up front, later as well, including when you have to spend more of it, but none of the upfront money is saved. Its was all spent, and essentially it has to be spent. The law requires that the SSA put the money in government bonds, unless your running surpluses all the time (paying down debt can reasonably be considered equivalent to saving), the money is being spent on other things. The US federal government has almost never run sustained surpluses, certainly not in my lifetime. Spending is spending huh? Will you please answer the simple question as to why SS would collect huge EXCESS amounts during the earning years of the baby boom earnings PLEASE! What was that extra money collected for Tim? Effectively it was collected to cover current spending. That's what actually happened whatever the politicians claimed.