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Reply #59: No kidding - I am an economist. [View All]

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ThomWV Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-02-10 04:51 PM
Response to Reply #50
59. No kidding - I am an economist.
Edited on Fri Jul-02-10 04:52 PM by ThomWV
I understand his argument, all I'm saying is that he left out the borrowing from the "fund". He omitted that and acted like all SS is transfer, which it is not when the Agencies have access to that money, which they do. Maybe you missed that part. When the Agencies "borrow" money taken in it is not longer a transfer, it represents an expenditure (purchase of goods or services) which, as he so correctly points out, is actually not funds borrowed for future spending but funds borrowed to cover purchases already made. The failure of that little part of his argument is in calling it a transfer when in fact it is the purchase of goods and services.

Oh, on that Economist thing, I actually was trained as one - but never worked in the field and am retired today.
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