General Discussion
In reply to the discussion: Criticize the President? We should not even be having serious conversations about this. [View all]Life Long Dem
(8,582 posts)"Sen. Richard Durbin says that Social Security does not add one penny to our debt. Thats false. It was wrong 21 months ago, when Durbin said it once before, and its even more off the mark now.
The federal government for the first time in its history had to borrow money in 2010 to cover Social Security benefits to retired and disabled workers a trend that worsened in 2011 and will not change at any point in the future unless changes are made.
Its true that Social Security is a separate funded operation, primarily through payroll taxes and income taxes on benefits. But tax revenues no longer cover the cost of Social Security benefits. As a result, Social Security is adding to the debt."
http://www.factcheck.org/2012/11/durbin-again-denies-social-securitys-red-ink/