Perry is STILL right: Social Security is a loser

[dellinger63]

Originally Posted by Riot

I got whiplash trying to follow.

Why don't you post a link, and start a new thread?

it's really not that complicated, trust me.


Unless there is a special giveaway tax I haven't heard about, SS taxes are providing at least part of the cash for this newest sweepstakes giveaway. Again social security doesn't add to the debt but using SS contributions for BS programs certainly does. The only way to keep a politician (either party) from spending is to limit their spending money. Privatizing or at least privatizing management of individual accounts would do wonders in keeping SS cash out of the politicians' (both parties) hands. As we preach the 10% savings rule we also preach having a diversified portfolio of investments. Having 100% of the portfolio, in one investment, in the form of IOU's is ludicrous in the world of responsible and mature.

[Riot]

Originally Posted by dellinger63

Unless there is a special giveaway tax I haven't heard about, SS taxes are providing at least part of the cash for this newest sweepstakes giveaway.

Really? How much?

[Danzig]

something i found regarding ss, and borrowing by the fed:


Another argument made by Social Security opponents to raise fear about the national debt is how much our government has borrowed from China. They never mention how much our government has borrowed from Social Security. In fact, the government has borrowed more from the Social Security surplus than it has from any other source in the world, including China. As a result, Social Security now "owns" nearly 18 percent of the federal debt, making it the largest single holder of US debt. The government owes almost twice as much to Social Security as it does to China and Hong Kong.


now, those saying we should privatize ss, or do away with it, are incorrect. i completely disagree with that assertion. failure of the fed to properly handle our overall budget isn't an indictment of the ss program. they are not mutually inclusive. borrowing from ss doesn't mean the program is a failure, it's an indictment of the overall thought processes of our politicians in washington.

[Riot]

Originally Posted by Danzig

something i found regarding ss, and borrowing by the fed:

As a result, Social Security now "owns" nearly 18 percent of the federal debt, making it the largest single holder of US debt. [/b]The government owes almost twice as much to Social Security as it does to China and Hong Kong.

Wow. We are going to be in serious trouble, if we ever threaten to not pay ourselves back.

failure of the fed to properly handle our overall budget isn't an indictment of the ss program. they are not mutually inclusive. borrowing from ss doesn't mean the program is a failure, it's an indictment of the overall thought processes of our politicians in washington.

Well said!