Sometimes President Obama upsets me. Especially when he follows the illegitimate framing of the issues surrounding our budget, deficit, and debt. It is worth noting that Social Security DOES NOT contribute to the deficit, the debt, nor any real (or manufactured) budget/debt crises. If we want to cut government spending, we need to cut UNFUNDED government spending (which is largely the cuts called out in sequestration: You know, the major cuts to the military and pentagon budgets) not FUNDED spending...
So, I particularly enjoy when real economists take the time to write it up, like this blog by Dale Coberly of Angry Bear writing about Social Security, with the hopes that it will be cross-posted by Paul Krugman who has a much wider audience. A very well supported post that shows that Social Security shouldn't even be in the discussions about budgets and deficits, etc.
So, read the article here, but in summary (the key points!):
Social Security has nothing to do with the deficit...
... and therefore should not be part of the "deficit reduction" hysteria.
Social Security is not going broke.
The Trust Fund is NOT Social Security. It does not matter at all when it "runs out."
The "Eight Trillion Dollar Actuarial Deficit" can be paid for by raising the payroll tax eighty cents per week each year.
Social Security was designed...insisted upon by Roosevelt...to be worker
paid: "So that no damn politician can take it away from them."
One has to only follow the money to see where the "Big Liar's" desire to take SS: Remove it from the public's control (via the government) to private control so that a few can extract (extort) money from the flows into the fund.
No doubt this will be much wider read if taken up by Mr. Krugman (as Angry Bear hopes!), but I am more than willing to spread the word if I can...
As Mr Coberly closes:
The Big Lie is that "Social Security is going broke, causing huge deficits that will burden our children."
Tell the people.
Read the article, and please, Spread The Word!
