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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (1163824)	9/13/2019 10:50:44 AM
From: i-node	Read Replies (1) \| Respond to of 1583647

>> At the first Reagan-Mondale debate in 1984, Reagan set the record straight about Social Security. Yeah, that was then. SS wasn't requiring repayments to the general fund at the time. In fiscal 2018, expenditures exceeded revenue (including interest on investments) for the first time since 1982. Social Security took in $912 billion in fiscal 2018 and spent $991 billion. The difference - $79 billion - came from repayment of interest on those Treasury notes. It is true, that interest was just money due on SS's earnings from the investment in Treasuries, but it was money that was borrowed against those funds and the interest had to be paid. By putting this massive source of cash in front of Congress they encouraged spending which should never have occurred. Worse, ten years from now, the country will be in crisis over what to do to prevent SS from doubling down on its deficit effect. As the fund is entirely GONE, there are two choices: Reduce benefits, or increase taxes. Given its third-rail status, the only option may be to increase taxes. These are not small things. These programs are unsustainable. Medicare and Disability Income are both on the ropes and WILL increase deficits substantially. Or taxes on the middle class.