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Sunday, February 28, 2010

Social Security

“>>"It is an intergenerational transfer or resources.
Exactly.
>>"they choose to perpetuate this myth that the money comes from the government"
Right, they have to promote that falsehood, because then they can characterize all efforts to restrain government borrowing and spending as 'threats against Social Security', when government does not create the retirement benefits, it transfers them, like you say. Government is just the mailman here.

The problem is, government is like a mailman who steals from the mail while it's in route. There was supposed to be a larger surplus put aside for babyboomers from previous taxpayers, but the government mailman steamed upon the envelopes and took the extra money as it came in and spent it.

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