Minority Leader Pelosi today defended the practice of the Social Security system lending money to the federal government, saying the interest paid by the government on the loan helps keep the system solvent. “There’s nothing wrong with Social Security lending money with the prospect of returning it,” Pelosi said. “There is a surplus in Social Security, and under the law Social Security can lend that money to the government for other purposes with the idea and the requirement that that money be paid back to the Social Security Trust Fund with interest,” she said. “And the ‘with interest’ is part of the income to the Social Security Trust Fund which makes it solvent until 2052.”
I have worked on perhaps three dozen Congressional campaigns over the years. And I can tell you without exaggeration that the push question in every poll that reads more or less like this: “So-and-so voted in favor of spending Social Security money on other government programs,” damages a politician severely regardless of their political party and history of distinguished service in their district.
What really surprises me here Isn't that Pelosi is all into OPM.. what surprises me is that Pat didn't go and say "Nancy where does that With intrest" come from. because while the money doesn't burn out all togther till 2052 come 2018 the government will have to make more in payments. You see Social Security is like a credit card and our uncle sam kept making the minimum monthly payment.. now old sam is in a place where he may soon have such a low free balance that he has to pay PAINFUL levels of minimum payments... and then sam can't afford other things he needs and then we have problems.
This is the real big problem with what nancy said.. the fact that her spending policy will mean massive cuts in federal programs and/or massive tax hikes which will strangle the economy.. making the problem worse.
factor in the collapse of medicare, the federal pension guarentee program, the federal pension program.... and Nancy wants us to go out and get another credit card.
More reasons not to vote for her party
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