Guess who's provided the U.S. with the most money to cover our annual budget deficits? It's not China. Not even close. Rather, over the years our nation's seniors - through the social security trust fund - have lent our nation $2.7 trillion to keep our country solvent (updated figures here).
According to congressional Republicans the best way to thank our nation's seniors for their generosity and hard work over the years is to cut social security benefits, today. Why? Because "we don't have the money."
To be sure, the GOP thinks there's enough money to pay for tax cuts and corporate subsidies. They're also fine with the more than $16 trillion we guaranteed or turned over to Wall Street after 2008. Paying back the multiple trillions of dollars we owe to everyone else - like the Chinese, the "Caribbean Bank Centers," and our mutual fund industry - is OK with them too.
But we don't have to return the $2.7 trillion we borrowed from our nation's seniors because we can just cut back on their benefits. Nice.
Apart from saying that the U.S. government no longer has a constitutional (Art. VI) or moral responsibility to pay back our nation's seniors, the GOP is effectively kicking our nation's seniors in the groin by suggesting that we don't need to honor the $2.7 trillion they've lent our nation.
It's really that simple.
- Mark
According to congressional Republicans the best way to thank our nation's seniors for their generosity and hard work over the years is to cut social security benefits, today. Why? Because "we don't have the money."
To be sure, the GOP thinks there's enough money to pay for tax cuts and corporate subsidies. They're also fine with the more than $16 trillion we guaranteed or turned over to Wall Street after 2008. Paying back the multiple trillions of dollars we owe to everyone else - like the Chinese, the "Caribbean Bank Centers," and our mutual fund industry - is OK with them too.
But we don't have to return the $2.7 trillion we borrowed from our nation's seniors because we can just cut back on their benefits. Nice.
It's really that simple.
- Mark
No comments:
Post a Comment