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

To: RetiredNow who wrote (128405)	12/4/2012 12:25:32 PM
From: koan	Read Replies (2) \| Respond to of 149317

<<As I keep saying, right now SS and Medicare are adding to our deficit. It is one of the things that needs to be addressed, just like military spending and taxes.>> How can SS be adding to the deficit if they are owed 2.5 trillion? With math like that how can your other economic predictions be true? Do you understand the difference between a credit and a debit? If you have a million dollars and no other debt, and are spending a thousand a year are you adding to your debt?

To: RetiredNow who wrote (128405)	12/4/2012 3:13:47 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 149317

REAGAN: Social Security, let’s lay it to rest once in for all…Social Security has nothing to do with the deficit. Social Security is totally funded by the payroll tax levied on employer and employee. If you reduce the outgo of Social Security, that money would not go into the general fund to reduce the deficit. It would go into the Social Security trust fund. So Social Security has nothing to do with balancing the budget or erasing or lowering the deficit. == Reagan: We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy. [...] Do you think the millionaire ought to pay more in taxes than the bus driver or less? http://thinkprogress.org/...