Scrapping Social Security and Medicare

Trump has laid the foundation for conservative politicians to start talking about scrapping Social Security and Medicare. Billionaires were bailed out during the Bush and Obama eras, when government borrowed from Social Security to subsidize and bail out rich folks. Trump has permanently cut taxes on the wealthy so that his rich friends don't have to pay back the money they took from Social Security.

The reality is that Social Security is the most fiscally responsible program that the government has. There's a surplus and virtually no possibility of it becoming insolvent. The only reason there is talk of scrapping it is that Republicans don't want to have to tax the wealthy.

Furthermore, Social Security is paid out of a trust fund and is, therefore, "off-budget." The existence of the Social Security program actually benefits the budget and reduces deficit spending. Furthermore, all the scary rhetoric about the federal debt is just nonsense. Half the federal debt is owed to the United States. Nearly 20% of the federal debt has effectively been canceled, even though it still reflects in the numbers.

Commenting on this Blog entry will be automatically closed on January 29, 2019.

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