Social Security goes cash negative (Congress, Iraq, Obama, elections)

[lifelongMOgal]

Does anyone really think Obama will tackle this "political 3rd rail"? I don't believe his proposed budget touched it.

From FDR To IOU: Social Security Hits Tipping Point : NPR

February 9, 2011

Every year since Franklin Delano Roosevelt signed Social Security into law in 1935, it had taken in more money through payroll taxes than it paid out. That is, until last year.

Social Security has now officially gone cash negative — and that means a nation that borrowed surplus Social Security revenues for decades will have to start paying that money back

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[HappyTexan]

Nobody in DC is going to touch this hot potato.
They will let SS borrow from the Treasury to cover the shortfall.

There are piles of non-negotiable IOU's given to SS by Congress for all the "surplus" money they borrowed over time.

Maybe it's time to call them on those IOU's ?

[Backspace]

Hell if you listen to leftist radio you would know that Social Security is going to be solvent forever, there's nothing to be worried about at all.

[Mircea]

Originally Posted by HappyTexan

Nobody in DC is going to touch this hot potato.
They will let SS borrow from the Treasury to cover the shortfall.

There are piles of non-negotiable IOU's given to SS by Congress for all the "surplus" money they borrowed over time.

Maybe it's time to call them on those IOU's ?

That would mean raising taxes, unless they want to get an IOU to pay off an IOU.

[jojajn]

Bush spent our Social Security funding to make war in Iraq!

[Jaggy001]

"and that means a nation that borrowed surplus Social Security revenues for decades will have to start paying that money back"

Quite simple really. SS was properly funded but the money was used for other purposes. Only fair to those people who have been paying in all their working lives that it be put back at the expense of other programs.

[uggabugga]

Originally Posted by Backspace

Hell if you listen to leftist radio you would know that Social Security is going to be solvent forever, there's nothing to be worried about at all.

For the longest time there was a poster here who would try to argue that point until the cows came home..
I wonder what happened to saggy, anyway?

[Backspace]

Originally Posted by jojajn

Bush spent our Social Security funding to make war in Iraq!

That's a retarded statement, Bush didn't spend anything from the SS fund. CONGRESS has spent SS funds for years.

[Backspace]

Originally Posted by uggabugga

For the longest time there was a poster here who would try to argue that point until the cows came home..
I wonder what happened to saggy, anyway?

We lost a ton of left wing posters right after the 2010 elections, it's a little funny when you think about it. I'm sure they'll be back with a vengeance in 2012.

[jojajn]

Originally Posted by Backspace

That's a retarded statement, Bush didn't spend anything from the SS fund. CONGRESS has spent SS funds for years.

Bush spent $$$$$$$$$$$$$ on the Iraq war and we all know that:

"It all comes out in the wash."