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In reply to the discussion: Nikki Haley calls for changing retirement age for Americans who are now in their 20s [View all]pnwmom
(110,264 posts)80. Here's what Politifact claimed was wrong with the idea that Bush took saved Social Security funds
to pay for Iraq and the bailout:
First, the amount of surplus Bush "borrowed" is actually around $708 billion, a little more than half of the $1.37 trillion claimed in the meme. While around $1.52 trillion in bonds was added to the trust funds from 2000 to 2008, the Treasury only has access to the cash revenue collected every year, not the interest accrued on the entire surplus.
Second, Bush didnt exclusively spend on the war, which has an estimated cost of $1.7 trillion. Other big costs include the financial bailout in 2008.
Second, Bush didnt exclusively spend on the war, which has an estimated cost of $1.7 trillion. Other big costs include the financial bailout in 2008.
So, the first is that Bush borrowed "only 708 billion." But he DID borrow it.
Second, he used it to pay for BOTH the war and the BAILOUT.
Politifact is just quibbling. If he hadn't taken that $708 billion to pay for his war and his tax cuts, Social Security would be much stronger today.
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Nikki Haley calls for changing retirement age for Americans who are now in their 20s [View all]
Omaha Steve
Mar 2023
OP
No, it doesn't. We don't know that they'll be living that much longer, with the way
pnwmom
Mar 2023
#2
I had a friend who had that idea. She said that people "see that money coming when they're 62 and
CTyankee
Mar 2023
#94
My best friend had to take it at age 62 because she was caring for her mother
TexasBushwhacker
Mar 2023
#95
They're against it because employers would have to match the deductions (nt)
William Seger
Mar 2023
#39
No, it wasn't. It was supposed to have been "fixed" before the Iraq war, but then George Bush
pnwmom
Mar 2023
#71
From your link: "As for not "paying back," the bonds won't need to be repaid until 2020."
pnwmom
Mar 2023
#77
Here's what Politifact claimed was wrong with the idea that Bush took saved Social Security funds
pnwmom
Mar 2023
#80
I just want you to understand that Social Security is not weaken because of ''borrowing" ...
aggiesal
Mar 2023
#91
It doesn't matter what the other Presidents did. We had a projected surplus, and if Bush
pnwmom
Mar 2023
#85
The Tax cuts for the wealthy are money not collected, not money paid out after the 1st year ...
aggiesal
Mar 2023
#87
Eisenhower and the highway system then Nixon with the EPA is all I can come up with in
LoisB
Mar 2023
#32
The scumbag George Santos said he needed to get elected to "get health for life"
winstars
Mar 2023
#15
If the retirement age matches life expectancy, then on average no one could retire. Nt
spooky3
Mar 2023
#13
I am a "boomer" and care very much for the subsequent generations. I have grandchildren and
LoisB
Mar 2023
#33
Hey Nikki, do you really think 20-year-old don't vote? They do vote... good luck.
ashredux
Mar 2023
#42
Every single time Republican candidates propose tampering with SS, they lose votes.
ancianita
Mar 2023
#44
Hilarious how she thinks anyone other than her friends and relatives give 2 fucks about what she
Carlitos Brigante
Mar 2023
#59
Republicans won't be happy until everyone has to work until they drop dead.
yellowcanine
Mar 2023
#64
In ark, oh and wv go to work or get married younger and die with no end in sight
Marthe48
Mar 2023
#70