I would only change one word, your word "stealing" I think of as "defaulting." Of course, I am technically wrong because I know the Social Security act can be repealed tomorrow. I learned this from Bernanke when he spoke at a Senate hearing! I thought this was an appalling thing to say but he didn't seem to flinch as he spoke.
The problem is for Uncle Sam that it touts investment into U.S. Treasury Bonds as the safest investment in the world. Many countries have invested in them because they agree. However, looking at the fact that Uncle Sam is now considering cutting Social Security and the Federal Government pensions (numbers one and sixth as the largest debt holders) by slowing down the rate of growth over the next years may not technically be legally a default, but it certainly feels like one when looking at the fact a participant might lose $18,000+ if he or she lives 25 years into retirement.
I just qualified the first of this month for Social Security and I receive my first check next month. I have paid my FICA taxes for over 40 years, in fact, overpaying them since the deal was struck in 1982 or 1983 to overcharge participants FICA in order to fund the huge Boomer retirement now in progress. I am not so wrapped up in myself that I think these things revolve around me; but I do think there are millions just like me, and we are all getting the short end of the stick.
True, the deficit has to be addressed but two of the largest profiteers from the unfunded wars, Halliburton and The Carlyle Group, paid little or no corporate taxes. Why should not they, and other corporations rather than middle class and impoverished Americans being asked to step up to the plate?
I do not expect to remain a Democrat if this deal is passed. And I think the Democrat legislators that sign off on it leave themselves very exposed when they run for re-election.
Thank you for posting on my thread.
Sam
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