It’s unbelievable that the citizens of this country are not concerned about this. Bush is bankrupting this country (I believe by design) and the sheeple are sitting idly by watching it happen.

The GOP will redinvent itself and be back in 10 to 15 years. But first the grand purge has to take place. All the one issue, or incendiary issue believers leave the party they will, once again, concentrate on the idea of a smaller govt. and fiscal responsibility. Something that is nowhere to be found now.

Comment by hellinabucket — January 23, 2008 @ 11:14 am

I hope you’re right, hib, and in a rational world there wouldn’t be any question.

But there are so many true believers who are so willing to be deluded, just so they don’t have to alter their view of the world to accommodate, y’know, facts, that I fear there will always be a ready market for stupid ideas masquerading as “free market philosophy” or “healthy forests initiatives” or “pro-life positions” or “exporting democracy” that there will always be a GOP. After all, the success of Republican ideas is due to marketing, not to essence. And if America can be turned into a nation of lite beer drinkers, you know we can be sold anything.

The best we can hope for is that the are consigned to permanent minority status.

As I said above, by law this Social Security surplus must be loaned to the federal government if the latter runs an “on budget” (all other spending) deficit. Social Security loans its surplus to the government by buying special issue bonds that become the Social Security trust fund. Thus, if you want, the surplus exists in the form of these special issue government bonds held in the Social Security Trust Fund.

The Social Security surplus was created to pay benefits for retiring baby boomers, along with current revenues.

I hope this answers your question.

Not renewing them wouldn’t help until 2010 when they are set to expire. Reversing them right now would help tremendously.

————————————————–

And interest paid on the national debt for fiscal year 2007 was $430 billion. U.S. population is 303,291,883. Interest works out to $1,417.70 for every man, woman, and child in this country for 2007, or $5,670.81 for a family of four (this is average — richer people will pay more, poorer people will pay less). Think of this as you’re doing your taxes this spring. When you think of how much you are paying, remember how much of it is going just to pay interest on our gigantic debt.

http://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm

Anybody notice that the deficit increase is less than the interest we are paying? If not for the interest payments, we’d have a surplus. That’s right. If our debt was even down to pre-Reagan levels, and we weren’t spending money on stupid wars, we’d have a balanced budget, everybody’s taxes would be lower, our dollar would be strong, and we wouldn’t be indebted to foreign interests.

Thanks Reagan, Bush, and Bush!

http://finance.yahoo.com/

not good news…..

“Borrowed” is political nicety. The money goes directly into the general fund – which goes to fund all capital expenses.

http://oregonearmarks.blogspot.com/2007/12/news-flash-for-president-earmark.html

However fair is fair.

Using CAGW “Pig Book” data the link below provides the data to show that earmark DOLLARS have gone done by 25-36% in recent years, compared to period that Republicans were in charge of Congress:

Comment by stewarjt — January 23, 2008 @ 11:04 am

Where is it?

Comment by plunger

you guys that understand these things don’t jump on me too hard but I understand it to be borrowed by the government to fund their war and other nonsense…..pretty sure someone else has a more detailed answer but for us regular joes……

Comment by stewarjt — January 23, 2008 @ 11:04 am

Where is it?

So basically what I’m saying is that they can’t use the SS surplus responsibly, and so thus it needs to be taken away.

Make up the difference and then some until the budget is balanced with progressive income and corporate taxation.

Bush and the neocons have destroyed your party for years to come.

I hope they haven’t destroyed the country as well.