It's late in the day and not a popular subject, but I have to say one more

[sad sally]

time, why is there such a push by the President to extend his "payroll FICA holiday?"

FICA is not a tax. It's a payroll deduction (kind of like a 401k plan) that an employee and employer contribute into what's supposed to be a savings plan for your future retirement, and to help pay for your future medical needs once you retire or become disabled, or are widowed or orphaned.

FICA is not a tax in the sense of paying for national defense, national parks or the EPA. Those things are paid for through income and other taxes.

Yeah, I know all the Social Security and Medicare money you’ve contributed through FICA has long since been borrowed and spent by big government for other programs. These two programs - that if you paid into you're entitled to - survive only on the current yearly payments made by employed workers. Those yearly payments have been reduced by 2% from every workers FICA contribution in 2011 and now the big jobs plan will include another year of a 2% reduction and a proposed additional 2% reduction from employers contribution.

I don't see the logic of reducing contributions while at the same time telling people their retirement funds will be there. It just doesn't add up. It simply further destabilizes the fiscal solvency of Social Security, our national retirement system, by reducing its collections.

Then there's the issue of debt. This year, with the 2011 payroll tax holiday, voters will be happier but Social Security revenues will plunge by an additional $120 billion.

Where will the additional $120 billion come from to pay Social Security checks this year?

Answer, the government will simply tack it onto the national debt.

And how do you suppose the 2012 election year payroll tax holiday extension will be paid for? duh...

Having more money in our pockets makes us happy voters who have a tendency to vote for the politicians who made us happy. Guess the President and Democrats and Republicans running for re-election just want to make us happy - to hell with tomorrow's retirees.