HabitableZone

Flame » in reply to Re: And, of course...

Re: No, you're wrong.
TB — (archived)

Eri, your Social Security and Medicare money vanished into Treasury bills the second it left your paycheck. These I.O.U.s were stored under the category "Trust Fund." Then it was used to buy B-2 bombers, keep parks open, fly space shuttles, pay government salaries, and do every other thing the government has been spending money on for years.

There is no actual wealth in the Trust Funds. Just the promise of the government to redeem it with real money someday. From where? Like Harry Reid says, that's years from now. Who cares?

If a private individual ran his books the way the government does, he'd be thrown so far back into jail you'd have to pump air to him. There's a name for an investment where the people cashing in are paid directly from the money provided by new "investors," and no new wealth is actually created, as in real business investments.

There is no bucket of cash in some vault with "Eri" written on it. And fewer and fewer taxpayers are carrying more and more people. And yes, people who say entitlements don't "count" as government spending are imbeciles.

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