In response to:

Study: "Debt Problem Began Four Decades Ago"

Georgia Boy Wrote: Jan 22, 2013 9:19 AM
The chart is bogus because Social Security has not contributed to the national debt.
D G Wrote: Jan 22, 2013 10:03 AM
Look at the chart, GA Boy ... Are you unable to see and read?

It does not have a line for SS by itself.

It combines SS and Medicare on one line.

The combined line is not "bogus".


MudontheTires Wrote: Jan 22, 2013 9:44 AM
"The chart is bogus because Social Security has not contributed to the national debt. "

BuIIshit. When SSI taxes are put into the general fund and SS benefits, including non-retiree benefits are paid out from the same general fund, with many of those payment going to people who have never paid in, Social Security is a HUGE contributor.
southern tom Wrote: Jan 22, 2013 9:56 AM
...AT LEAST people are PAYING IN to Social Security... that can't be said for the 50 million plus people who are receiving WELFARE!
MudontheTires Wrote: Jan 22, 2013 10:31 AM
Tom, there are people getting money from the government under SS that have never paid into the system.

Yes, "some" SSI payments ARE welfare.
oldervoter68 Wrote: Jan 22, 2013 9:33 AM
In a way, it has (indirectly), because it resulted in a pool of money that the government could raid, trading IOUs for $ to fund other government programs. That being said, SS is coming to a point in its life cycle where outgo will exceed income and thus will be a drain on the Treasury (assuming Congress and the Executive continue to sit on their hands rather than find a solution).
southern tom Wrote: Jan 22, 2013 9:45 AM
...RETURN SS to it's original mandate, a safety net for the elderly, and it would once again be solvent... DROP everyone presently receiving a check who ISN'T of retirement age and or ISN'T an American citizen.
DevinDenver Wrote: Jan 22, 2013 9:25 AM
Please explain your "bogus" claim.
TaxFree1031 Wrote: Jan 22, 2013 9:25 AM
Keep flogging that dead horse
alphonsejones Wrote: Jan 22, 2013 9:38 AM
georgia boy simply believes that the social security lock box that is filled up with the iou's from the feds stealing those funds, isn't a debt that must be paid off
A new report from the Federal Reserve Bank of St. Louis reminds Americans that, contrary to the narrative that huge deficits and debt are merely a recent product of the Great Recession, the problem began over forty years ago.

Daniel Thornton, the St. Louis Fed's Vice President and economic adviser, finds what conservatives have been saying all along is true: it's steadily increasing government spending, not a lack of tax revenues, that's causing all of this.

[A]fter 1970, both revenues and expenditures increased on average relative to the previous two decades; however, revenue increased marginally while...
Related Tags: Debt Deficit budget deficit