General Discussion
In reply to the discussion: Social Security has ZERO to do with the Deficit. [View all]sabrina 1
(62,325 posts)to pay that interest, so it needs to issue new debt to cover it'.
Finally, an ADMISSION of what CAUSED the deficit. The Fed Govt, as I said right from the beginning, is the CAUSE OF THE DEFICIT. The Fed Govt OWES the SS Fund money they borrowed.
Now, when someone owes someone else money due to their inability to manage their own finances, and they get it, such a person DOES NOT GET TO BLAME the LENDER for their problems.
This is what they have to do. They have to CUT OUT throwing money away and then borrowing more, creating MORE debt and adding to more their own deficit.
The Fed Govt DOES have the ability to find the money to pay back the SS fund, THE AMERICAN WORKERS without adding to the deficit.
I've already provided some of the ways they can do that.
They GAVE two trillion dollars to the most wealthy Americans eg, on the promise of something in return. That didn't happen. Bush lied.
So now, they can get that money back by RAISING TAXES on those who failed to keep the promise they made when took money from the SS Fund to provide those extremely expensive tax breaks.
See? SS NEVER HAS TO BE part of the deficit in any way.
And of course raising the cap is another way.
What you keep arguing is that the LENDER is to blame for the debts of the BORROWER and there is NOTHING THE BORROWER can do to pay back their loans which means the LENDER is to blame.
That is utterly ridiculous in every possible way.