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« Obama wiretaps far outpace Bush wiretaps | Main | So how much does the debt-limit deal lower the debt? »

July 14, 2011



Jan Schakowsky is Confused About Social Security Trust Fund


Perhaps Obama will get over the delusions of economic schizophrenia that keep the Democrats believing that they can continue to spend at current levels merely by taxing the rich. First, the rich aren’t that rich and second, the federal government spending currently is that out of control. There isn’t an endless supply of money out there, even if they tax everybody.
The federal government has achieved the economic “Bridge Too Far” and will eminently lose all those programs that they complain about having to “give up” if they don’t come to grips with reality.



Not all that appropriate, but I had a strong desire to say 'justice' in latin. Thanks for letting me, Frank.



Social Security’s trustees, in particular its Managing Trustee, Treasury Secretary Geithner, are entitled to demand that those bonds be redeemed – cashed in – by the Treasury to whatever extent is necessary to provide the money to pay benefits. Because the principal amount of those bonds is part of the debt that is subject to the $14.3 trillion debt ceiling, every dollar of principal paid to redeem the bonds creates room under the ceiling for the Treasury to borrow more money from the public.

This leaves us knowing that Obama lied his ass off in an unnecessary attempt to scare.seniors.

Frank Warner

Kevin, thanks for the Latin. We needed that.


Social Security isn’t a Ponzi scheme; it’s worse.


Flashback: Krugman Says Social Security Has a “Ponzi Game Aspect”

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