Robert Reich\: "Social Security isn’t responsible for the federal deficit. Just the opposite."

[kpete]

Budget Baloney (1): Why Social Security Isn’t a Problem for 26 Years, and the Best Way to Fix It Permanently

Wednesday 16 February 2011

by: Robert Reich | Robert Reich's Blog | Op-Ed

New Jersey Governor Chris Christie, a Republican presidential hopeful, says in order to “save” Social Security the retirement age should be raised. The media are congratulating him for his putative “courage.” Deficit hawks are proclaiming Social Security one of the big entitlements that has to be cut in order to reduce the budget deficit.

This is all baloney.

In a former life I was a trustee of the Social Security trust fund. So let me set the record straight.

Social Security isn’t responsible for the federal deficit. Just the opposite. Until last year Social Security took in more payroll taxes than it paid out in benefits. It lent the surpluses to the rest of the government.

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the rest:
http://www.truth-out.org/robert-reich-budget-baloney-167874

[Name removed]

1. Deleted message

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[xchrom]

2. Recommend

[Ghost in the Machine]

3. It's the government thieves & liars who've plundered the surplus in the Social Security Trust Fund

... who are responsible for the federal deficit. They've borrowedstolen the money and don't want to pay it back. Start garnishing the wages of every politician who has stolen from the Trust Fund and start paying it back. Until these corrupt bastards are held personally responsible, nothing is going to change, period.

[Sherman A1]

4. K&R Well Said

:kick:

[county worker]

5. Tell me Obama supporters, why doesn't Obama say the same thing as Reich?

Is Reich a liar or what? Is Obama ignoring the truth or what?

[rucky]

8. my thoughts exactly

[jwirr]

6. He has been telling this for a long time - screaming at the top of his

lungs but no one is listening. Especially not the Congress. Edited to say that it is Reich who has been telling us.

[AzDar]

7. This should be shouted from the rooftops.

:thumbsup: