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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (204612)10/11/2012 1:01:03 PM
From: Jeff Hayden  Read Replies (1) | Respond to of 541457
 
SS taxes shouldn't be running the government. The fact they are is now a mistake of Obama's!!!
The government puts IOUs into SS to balance what the government borrows. Those IOUs are Treasury bonds. That's been going on for well before Obama.

If the US collapses, those bonds would become useless. So I guess you are betting against the US?

I'm not.



To: Steve Lokness who wrote (204612)10/11/2012 2:58:23 PM
From: bentway  Respond to of 541457
 
When did the US government first start borrowing from the Social Security trust?

This practice began in 1937 with the creation of the Social Security system during Franklin D. Roosevelt's administration. That first year the government paid $2 million in interest on money it borrowed from the retirement trust fund


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