Democrats Deny Social Security’s Red Ink

Some claim it doesn't contribute to the federal deficit, but it does.

Some senior Democrats are claiming that Social Security does not contribute "one penny" to the federal deficit. That’s not true. The fact is, the federal government had to borrow $37 billion last year to finance Social Security, and will need to borrow more this year. The red ink is projected to total well over half a trillion dollars in the coming decade.

President Barack Obama was closer to the mark than some of his Democratic allies when he ... Full Story »

Posted by Doug Greer

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Doug Greer
1.5
by Doug Greer - Oct. 3, 2011

This article makes unsupported assumptions about just how to interpret what a national deficit really is. The article assumes that anything which causes the Federal government to have to pay interest on Treasury Bonds contributes to the Federal deficit. From a certain point of view, this may be true. But if true, anyone who has Treasury Bonds in their 401K is contributing to the federal deficit. The best propaganda is true from a certain point of view.

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