For the WaPo, It's Not Really a Debt if You Borrowed From the Elderly

icon gravatar.comwww.fair.org/blog/2009/05/15/for-the-wapo-its-not-really-a-d...
sent by Sparrows since 269 days 10 hours 56 minutes, published about 268 days 20 hours 31 minutes
The Washington Post editorial (5/14/09) on the Social Security and Medicare trustees' report didn't break much new ground, other than perhaps a uptick in the sarcasm quotient. ("Oh, please" is their retort to critics who point out the paper's demonstrable hostility to the Social Security program.) But this line jumped out at me as noteworthy: Furthermore, the size of the Social Security surpluses has shrunk, posing a problem for the government since it relies on these funds to help plug its deficits. Over the next seven years, the cumulative surpluses will be $157 billion instead of the previously estimated $454 billion, forcing the cash-strapped feds to borrow even more than they had expected. This is wrong in an important way: The Social Security surpluses are money that the program is lending to the U.S. government; when the government accepts this money, it is borrowing it, with a legal obligation to pay it back--just as if it had borrowed money from private sources. So whether or not the Social Security surpluses have shrunk doesn't change the amount of money the government is borrowing--it just changes who the government will owe the money to.
tags: social security program, govt taking $$$
5 commentscategory: Abuse of Power/Corruption karma: 180

comments

  1. #1    Social Security is not bankrupt. Our "leaders" are. Stand up and fight for Social Security before they take it away.
    written by Justice4alltoday since 268 days 19 hours 55 minutesJustice4alltoday
  2. #2    For the WaPo, It's Not Really a Debt if You Borrowed From the Elderly

    NO IT IS STEALING FROM THE ELDERLY LIKE ME..SOCIAL SECURITY IS ALL I HAVE.
    had i kept my state retirement by now it would have been gone due to what is happening so i was luicky for about 6 years, drew it out and spent it. the ERST
    could become insolvent due to whats happening.so SS is all i have.many may not get their retirement from the ERST.Especially if the gay governor good hair Perry (who was caught in the bed about 10 years ago with his lover..according to the Austin-American Statesman news)has anything to do with it.Many states are laying off their workers to save their budgets..Texas is no exception.
    written by Texatheist1 since 268 days 17 hours 59 minutesTexatheist1
  3. #3    The contempt for the working people of America by the financial/ruling elites and their media mouthpeices couldn't be more on display than with these unprecedented attacks on Social Security. It reminds me of the movie, Goldfinger, when the James Bond asks the villain "I suppose you want me to talk" and Goldfinger replies "I don't want you to talk, Mr. Bond, I want you to die." Well that's what Wall Street and its whores on retainer (aka all three branches of the American government) want you to do once your useful life as a worker drone is over and you can't be relied on to keep sending your sons and daughters to die in their wars of conquest, buying their cheap crap and paying their usury to finance it -- just die already.
    written by kevin3g since 268 days 16 hours 26 minuteskevin3g
  4. #4    Since these financial elites believe murder is legal the why not us?i believe it is a viable alternative since abUSH/Cheney/Rice/Rumsfeld believed murdering people was legal and sending people off to war to be killed was right and honorable..besides all the tortue Bush caused !!
    written by Texatheist1 since 268 days 16 hours 7 minutesTexatheist1
  5. #5    Ditto, kevin3g!
    written by Sparrows since 268 days 13 hours 54 minutesSparrows
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