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In reply to the discussion: "Seventy percent of the federal budget goes to individual assistance programs" [View all]HiPointDem
(20,729 posts)26. SS is running surpluses. $69 Billion in 2011.
In 2011, Social Security had a surplus revenue plus interest income in excess of outgo of $69 billion. Reserves are projected to grow to $3.1 trillion by the end of 2020.
http://www.nasi.org/research/2012/social-security-finances-findings-2012-trustees-report
The TF assets are mirrored US debt is correct, but it's not correct that the 6% of the budget devoted to paying debt interest = proportional payments to SS.
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"Seventy percent of the federal budget goes to individual assistance programs" [View all]
Nikia
Dec 2012
OP
Sure it is. What do you mean? Even the Social Security Administration calls it that:
Loudly
Dec 2012
#19
Wat he means is that Social Security is not a welfare program and is not part of the federal budget
PSPS
Dec 2012
#21
why do you lump interest on the debt (6%) in there? SS & Medicare are the bulk of spending
HiPointDem
Dec 2012
#16
You're double counting. The interest owed to the TF so far is already *in* the TF.
HiPointDem
Dec 2012
#23
Exactly. The payroll tax cut was ultimately made up for by borrowing. n/t
PoliticAverse
Dec 2012
#43
I think it's not quite like that. Say there's $1000 in the TF, representing a debt the gov't
HiPointDem
Dec 2012
#39
yes, i agree. just saying that the long-term effect of the tax holiday isn't so clear. there's no
HiPointDem
Dec 2012
#47
Exactly. Why wouldn't it be 100% of the government costs going to the benefit of Americans?
BlueStreak
Dec 2012
#30
good catch. we should use their tactics and say that workers at all levels fund half the budget.
HiPointDem
Dec 2012
#17
Merely for those who might be interested (and willing to read a lot of tables)...
2naSalit
Dec 2012
#11
it's wrong. get a bunch of others together & send a letter of complaint with the correct data.
HiPointDem
Dec 2012
#12