So 16.7% is owned by the SS trust fund? They used SS monies to pay down the debt so they could borrow more money to blackmail the tax payers into borrowing more money. Any businessman that tried this would be hung.
Oh yes they did.
Step 1: Make it illegal for the SS Trust fund to have excess cash on hand.
Step 2: Use excess cash to buy US Debt (called an ‘Imtragovernmental Transfer’ to make us feel better about it)
Step 3: Use said trickery to declare a surplus in the Clinton years
Step 4: Liberals scream from the rooftops that SS is not broke, since the government owes it money....pretending the government has its own source of funds, other than confiscation.
SS is now running in the red, and it has zero cash on hand. It all mist come from the general fund. Its time for Peter to pay Paul. But wait...Paul is now robbing money from his grandchild named Mary, rather than make tough budgetary decisions.
In today's New Normal, that businessman would more than likely be praised for skillful use of leverage. Eventually though, there will be a day of reckoning.
You got it. Raided, then spent, then re-borrowed at the penalty of fines or imprisonment.
That tree of Liberty is getting parched.
You got it. Raided, then spent, then re-borrowed at the penalty of fines or imprisonment.
That tree of Liberty is getting parched.
Any businessman that tried this would be hung.
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Washington makes decisions on a political basis, not a sound financial or business basis. Therein lies the problem. They do things for all the wrong reasons.
Try to find a PAC or a republican TV advertisement, similar to the type run by Sierrra Club or anti frackign liberals, that promote a message as well as the one you posted just now...not going to happen.