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Real Talk: CBO Director Tells Democrats Social Security is a Deficit Problem

wdwrkr Wrote: Feb 12, 2013 8:46 PM
nimh, A slight correction. WE pay the "matching amount". Employers just pass this amount into the price of their goods/service, which ends up coming out of our pockets. Or, our pay is docked by that amount. one way, or another, WE pay the "matching amount".
Over the past few years, Democrats have clung to the idea that Social Security is a self-financing program that needs only tweaks to be fixed and, moreover, has not contributed at all to America's current debt and deficit problem. During Congressional Budget Office Director Doug Elmendorf's testimony to the Senate Budget Committee today, Democrat Jeff Merkley of Oregon prodded on this point.

"Is it fair to say," Sen. Merkley said, "that Social Security does not contribute to the national debt?"

"I don't think that's right, Senator," Elmendorf responded, before explaining the fiction of the accounting of the Social Security...