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View Diary: There will be no default on the national debt (113 comments)

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  •  he said it isn't part of the debt (0+ / 0-)

    but he keeps trying to cut it anyway. there are other reasons he might want to cut it besides the debt, such as "strengthening it", or getting a "grand bargain", or other such nonsense.

    But listen, you refuse to pay attention to both his words and his actions over many years, because you simply don't want to believe it.  So I'm pretty sure there's no use discussing this with you any more since it's clear you are only going to believe what you want to believe.

    •  SS Does Affect the Debt (0+ / 0-)

      It doesn't increase it though. The SS surplus, by law, must be invested in treasury bonds. When the chained CPI happens, the lower COLA will mean increased revenue for SS that will be invested in treasury bonds so that's less money the gov't has to borrow from foreign countries or from private individuals. Thus it will appear as if they've cut borrowing since more of it will be intra-governmental, i.e. from SS. That's the only reason I can think of that the Dems and Repugs want to enact chained CPI.

      Most of the late 1990's budget surplus was from increased SS payroll tax payments.

      "The problem with posting quotes off the Internet is you never know if they're genuine."--Gen. George Washington at the Battle of Gettysburg, February 30, 1908

      by Aspe4 on Thu Dec 27, 2012 at 11:23:50 AM PST

      [ Parent ]

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