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Living in a World of lies
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Lie 2: Balancing the budget demands painful, but necessary, cuts in Social Security. Not true. As Senator Bernie Sanders points out, Social Security has not contributed one penny to the budget deficit. In fact, the trust fund has a $2.6 trillion surplus. With no adjustments, it can pay out every benefit owed for the next 26 years.
Indeed, Social Security and Medicare are part of today's discussion about debt reduction for one reason only: because Republicans are using this excuse to achieve something they've always wanted: getting rid of both programs.
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The reason that Social Security is part of the deficit argument is that they (not China) are the largest single holder of US debt. And when you think about it, don't you WANT them to invest in the US government? I mean, really -- where would you rather have SS investing their money?
But if you want SS to contribute to the solution, all we need to do is eliminate the cap on payments into the system. The cap is now set at $106,800. If it were lifted, imagine the additional revenue that would flow into the system.
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