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Social Security: The Annual Federal Deficit & Debt

Short Story By: EdwardJBradleySr
Editorial and Opinion


Explains how the American public's demand for higher government spending and lower taxes has impacted the U.S. Social Security System. With a view to the taxes collected and benefits to be paid in the future. View table of contents...

 

Submitted: Nov 11, 2006    Reads: 190    Comments: 3    Likes: 2   


In 1970, famed Americannewpaper cartoonist Walt Kelly, creator of the comic strip "Pogo", had his characters investigate the cause of environmental pollution in their swamp. The mystery was solved whenPorky the Porcupine loudly proclaimed: "Wehave met the enemy and he is us!".

TheAmerican voting public has contradictory expectations of it'sgovernment at all levels.

First, the voting and tax-paying public wants lower taxes. Candidates for executive office can always win votes by promising to lower taxes without explaining how they intend to cut popularprograms.

Second, this same public wants the government to spend more on programs that can benefit them in many different ways. Candidates for legislative office win votes by promising to "deliver more" in the way of services and subsidies for popularprograms without explaining how funding them will impact taxes.

As a result, the Americanpublic has been doing itself a tremendous disservice. Constant annual budget deficits which, yearly, increase total levels of government debt have been concealing wasteful costs associated with outsourcing and "kick-backs" to politicians from those receiving excessive tax-funded subsidies.

This might not be happening if only the costs of corruption were reflected in the levels of public debt. Then, if the public actually cared enough about this problem, it could choose to not re-elect anyone known to be causing it. What are the chances of that happening? One may wonder.

For example, since 1935, the Congress and the White House have been taking the "surplus" tax revenues paid into the Social Security system. Now that the baby boom generation is beginning to retire, the money they have paid for their own future benefits is no longer there, as it has all been "borrowed" to artificially lower the size of the federal deficit and debt.

Because there is no intention to pay back what has been "borrowed," future Social Security tax increases will be imposed on those still working, and retirees will face benefit cuts. This is because the "surplus" must be maintained so that it can continue to be "borrowed".

When the Americanpublic gets all it wants from its government, budget deficits and increased levels of governmentdebt are inevitable. An example of the false promise of the "free lunch" used to sell vastly overpriced beer, before "Prohibition," and yet "another fine mess".

Copyright © Edward J. Bradley 2006

To befurther informed, please click on the following hyperlink. Thank you!

http://moneynews.newsmax.com/david_marotta/social_security/2008/10/13/139884.html?s=al&promo_code=6D06-1


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Comments:

"another fine mess" for sure...

Scenario is worrying....

Thanks for the information...people should WAKE UP...

Posted: Jul 7, 2008

Author Comment:

Pratibha:

Thank you for reading and commenting.

Happy trails,

Ed Bradley.

Aby Skaria Plappillil
(not registered user)

This awakening article is awesome.
Continue enlightening and keep up the good work.
See you soon

Posted: Sep 17, 2008

Author Comment:

Thank you for reading, commenting and the compliment.

If you were to e-mail the hyperlink for this and the other 3f of my postings, on the topic of Social Security, it would help to inform many others as well. Important in this U.S. Presidential election year.

Happy trails,

Ed Bradley

The government sure promises us a lot of things but it takes them for a long time to get things done. I just don't understand why they take for so long with those who are seeking help with all these prices going up and especially the waiting list for the job market. What do we do you know?

Posted: Oct 15, 2008

Author Comment:

Matthew:

Thank you for reading and commenting.

What can we do? Vote, write letters and pray for the best.

Many elected officials make promises they never intend to keep. These false promises are made, most often, during an election campaign. Most of the time, the pubic forgets they were misled at election time. By the same politicians who they chose to elect to a term of office. Not a pretty picture, I know.

When it comes to the economy, they believe they are as much at the mercy of the whim/s of the economy. As is everyone else. But, at election-time, they have to promise to fix a broken economy and/or maintain a prosperous economy. Because this will be what the voting majority will want to hear.

Reminds me of the Arpege perfume advertising slogan: "Promise her anything! But give her 'My Sin'!". To paraphrase, when politicians speak: "Promise them what they want! Give them what you can! Even if that may be nothing.". As likely as not they will either forget, forgive or become unconcerned. The next time you may choose to stand for election.

If you wish to learn of my perspective/s, on this and other issues, please be encouraged to read my other postings on current events.

Again! Thank you!

Happy trails,

Ed Bradley.



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