SS is a pay as you program. It is running in the red now, i.e., it is paying out more than it is taking in. In order to make up the shortfall, SS cashes in its IOUs from the SSTF. Thus, the General Fund must come up with the money now to pay those benefits. So SS is in fact contributing to our current deficit problems. Baird missed the opportunity to nail Becerra by asking him if the SSTF is filled with real assets, why is the $2.3 trillion SSTF included in the $14.3 trillion national debt.
Becerra also lied when he compared the T-bills held by China to those in the SSTF. The SSTF holds non-market T-bills that can only be redeemed by the USG. We can't sell them to China or anyone else.
How many jobs has raising taxes made? The Rats believe they can scare and demogogue into victory. Only a Repub would fear that strategy which is the same one they have used for 50 yrs.
Pray for America
Next time a Repub hears the word shared sacrifice he needs to come back with, the American people have sacrificed enough under this President, it is time for Washington to sacrifice!
You have to wonder if the people are really falling for the Aug 2nd crisis this time. You can only cry wolf so many times before it hits dead ears.
Pray for America