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Reply #115: Paying back the "borrowed" SS trust funds adds trillions to the debt. [View All]

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Psephos Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-19-11 10:12 PM
Response to Reply #66
115. Paying back the "borrowed" SS trust funds adds trillions to the debt.
Where else do you think those repayments will be coming from?

There's a box of IOUs "self-funding" the SS "surplus." They are worth nothing unless they are repaid out of general funds...which can only be done by adding to the deficit, given that the Obama administration has said that it will take ten years to get the deficit down by half. (Other, more credible forecasts are less sanguine.)

Meanwhile, the snake swallowed an elephant long ago, and that bulge (baby boomers about to retire) is working its way down into SS's belly. Going forward, SS will be in permanent red ink in a few years, and the farther out you go, the worse it gets.

Math doesn't lie.

Source: CBO "Combined OASDI Trust Funds; January 2011 Baseline" 26 Jan 2011.
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