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

To: Steve Lokness who wrote (12966)	3/19/2012 3:20:32 PM
From: sm1th	3 Recommendations Respond to of 85487

So you believe the SS fix was a republican plot to funnel off money for other programs? Yikes! That is nonsensical and I have never seen it suggested by anyone. Please provide a source to substantiate your claim. Here read this; You truly don't understand, let me try to keep it simple. Think of SS as your left pocket and the rest of the budget as your right pocket. For many years the left pocket raised more in taxes than it spent. It loaned that money to the right pocket and got back IOU's (Treasury notes). The right pocket always spends more than it raises, so it immediately spent the money borrowed from the left pocket. Now the left pocket is spending more than it takes in, so it cashes in some of the IOU's. But the right pocket is empty, so the only way it can repay is to raise other taxes, cut other spending or borrow more from someone else. In recent history, borrow more has been the preferred option. The SS trust fund is an accounting myth, and SS is a Ponzi scheme. The fraud is completely non-partisan, continued by both parties.