In response to:

The Safety Net That Isn't

Irresponsible47Percenter Wrote: Jan 06, 2013 1:52 PM
Jacob: "There’s almost no point in talking about Congress paying back those loans. Congress cannot even balance a budget to establish the fiscal surpluses that could be used to pay down Treasury bond loans." Jacob is happy to spout this out one side of his mouth, because he HATES SS & Medicare. But he'd likely sue you for Libel if you were to claim that he was advocated that the U.S. default on it's 16 Trillion of debt obligations. He'd deny it out the other side of his mouth. Perhaps the U.S. was profligate with the SS surpluses it spent in the past. But we are no more likely to default on it than we are to default on the other $14 Trillion we owe.

January 6, 2013

Congress has just raised payroll taxes. It has done it before, and will do it again.

Our august solons excuse themselves, however, by pleading that the 2 percentage point hike is merely the sunset of a tax holiday. And necessary to shore up a faltering system.

It’s not a triumph of responsibility, though.

What is responsibility? Every year the Social Security Administration sends out a helpful note to its “clients” about how much we’ve contributed in payroll taxes. The kindly bureaucrats also warn us not to...