As it happens RR was completely incorrect. Shocking, I know. If you cut SS benefits the unified Federal budget deficit does decrease, since the a lower Trust Fund deficit or higher surplus is money Federal government need not borrow from the public. The trust fund cannot hold cash. It has to go to the Federal gov in return for special, non-marketable bonds.
On Thu, Apr 11, 2013 at 11:19 AM, nathan tankus < [email protected]> wrote: > this is taken out of political context. that position was expedient for > Reagan at the time because it justified the Greenspan position and raising > payroll taxes while also cutting benefits. now the trust fund is too big to > work that way so Obama's arguing the other direction (which Reagan would > have done in his position). > > the correct left position in my mind is moving social security into the > general revenue and making it very clear that benefits will only be cut if > politicians take them away. > -Nathan Tankus > > ----------------------------------------------------------------------------------------------------------------------------------------------- > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > >
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