In response to:

Oops: The Government's $800 Billion Social Security Math Error

Harry343 Wrote: Jan 07, 2013 4:21 PM
"For the first time in more than a quarter-century, Social Security ran a deficit in 2010: It spent $49 billion dollars more in benefits than it received in revenues, and drew from its trust funds to cover the shortfall. Those funds — a $2.7 trillion buffer built in anticipation of retiring baby boomers — will be exhausted by 2033, the government currently projects. Why do they persist with the fantasy of the Social Security Trust Fund? There is no Trust Fund! It's a pile of IOUs from the Government that the broke Government must buy back. It's buying these IOUs back with printed money from the Fed which is making all of our money worth less and hiding the fact that the Government does not have the money to keep spending like it is now.

Before we delve into the details of the feds' epic entitlement arithmetic snafu, let's check in with Harry Reid for the Democrats' official party line on question of Social Security's solvency:


"I'm saying the arithmetic on Social Security, it's not in crisis...Social Security is fine."

Reid said the same thing about Obamacare's now-defunct CLASS Act back in 2009.  Here he is on the Senate floor claiming that the program is funded for...