The current bull shit from liberals that don't want to face the tough political realities of the national debt is, "Social security doesn't add one penny to the deficit.
Sen. Dick Durbin (D-Ill.) said it earlier this year on NBC's "Meet the Press:"
Social Security does not add one penny to the deficit. Social Security untouched will make every promised payment for more than 25 years.
More recently something called the Strengthen Social Security Campaign is repeating the same canard. Said Eric Kingson, the group's co-chair:
Social Security never has and never will contribute a penny to the deficit because it has no borrowing authority. Social Security has nothing to do with the deficit and has no place in these discussions.
His statement was in reference to the 12-member, bi-partisan Super Committee that Congress has detailed to come up with spending reductions. The group is asking Americans to sign a petition that flatly states:
However, Social Security does not contribute a penny to the deficit. Therefore, it should not be considered as a part of any deal to reduce the deficit.
This is an unconscionable twisting of the truth, designed to scare Americans into rejecting any Social Security reform. FactCheck.org wrote at some length about this deception:
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....
Payroll taxes exceeded benefit payments regularly until 2010. But the fact is that Social Security has now passed a tipping point, beyond which the Congressional Budget Office projects that it will permanently pay out more in benefits than it gathers from Social Security taxes. The imbalance is made even larger this year by a one-year "payroll tax holiday" that was enacted as part of last year’s compromise on extending the Bush tax cuts. The lost Social Security tax revenues are being made up with billions from general revenues that must all be borrowed. The combined effect is to add $130 billion to the deficit in the current fiscal year.
Be sure to read the entire FactCheck post. And keep it in mind the next time liberals try to scare people for political gain.
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