-Caveat Lector-
from:
http://www.aci.net/kalliste/
<A HREF="http://www.aci.net/kalliste/">The Home Page of J. Orlin Grabbe</A>
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Clinton Rapes Social Security
<graph>
Look at the bottom line. This shows the federal budget is $100 billion
in deficit and is projected to stay that way over the next several
years. Look at the top line. This is Clinton's so-called budget
"surplus". It is obtained by adding the current cash flow surplus from
Social Security to the bottom line. This Social Security cash flow
surplus results from higher Social Security taxes enacted to "save"
Social Security. But the government simply takes the extra money and
spends it. Or rather, it "borrows" the Social Security surplus by
issuing government bonds to the Social Security Trust Fund. These latter
bonds will eventually have to be paid out of general tax revenues.
The people who are now paying higher social security taxes to "save"
Social Security will eventually be taxed again to pay the bonds issued
to the Social Security Trust Fund. They will be taxed twice to pay for
the same thing.
But the key here is that the current Social Security cash flow surplus
is not government income. It is borrowed money. So the top line is a
lie. The top line is Bill Clinton's "budget surplus." How nice that Bill
Clinton is going to use some of this non-existent "surplus" to "save"
Social Security.
Bend over America.
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Aloha, He'Ping,
Om, Shalom, Salaam.
Em Hotep, Peace Be,
Omnia Bona Bonis,
All My Relations.
Adieu, Adios, Aloha.
Amen.
Roads End
Kris
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