perfectworld said:
I see You Are Taking an Irrational Approach To The Problem.
Deficit Is The Republicans Baby.
Not Grandmas Or Mine.
http://www.elitefitness.com/forum/showpost.php?p=4576199&postcount=1
Deficit has increased every year since 1980. Every year. Both parties have controlled the white house and congress during that time.
Democrats will tell you they created a surplus. It was "projected", and it assumed that the economic growth of 1996 - 1999 would continue. That growth was due to the Internet becoming open to the public, not any economic policy. We know that growth has stopped. There was no surplus in real dollars. Only deficit. So it is naive to blame only one party.
The actual deficit number is also not informative. That numnber includes all of the money owed to the (coincidentally) Social Security surplus. When there is a surplus, as there curently is, the money must be used (by law) to buy Treasury Securities. This increase the perceived "deficit" by trillions. It also gives the Treasury a loan every year, which is the real reason no one wants to touch SS yet.
You either excluded that to support your argument or were not aware of it. The deficit is abiut 50% owed to the SS trust fund.
Further, the idea of having foreign countries buy our debt is a sound fiscal policy that forces them to continue to trade with us if they expect repayment. we basically handed Asia the cost of the war in iraq in real dollars, and when the dollar recovers, we will pay it off cheaper. I am sure you knew that too, and just forgot to include it when you highlighted the deficit as a key problem in the current budget.
Also, you dodged the issue about old people paying in. What about my proposal - since grandma paid in, younger people can stop paying and grandma can have all the money she paid in?
Sound good? It does to me...or to anyone who does not want to make the young the slaves of the old.
So let's review
(1) both parties have created and increased the deficit.
(2) much of the deficit is due to the laws about social security, which predate the birth of most of our current policymakers,
(3) Old people are not receiving the money they paid in.
What were you saying again?