I just received the following "poll" question from Senator Mark Kirk:
Dear Friend,
Social Security provides peace of mind to over 40 million American seniors. Since its creation under President Roosevelt, Social Security has been funded through the Federal Insurance Contributions Act (FICA). Social Security is not a welfare program. It is a retirement security program funded by contributions from each American worker to support senior citizens who met their Social Security obligations when they were asked to contribute to the system.
Congress is considering both Democratic and Republican proposals to cut contributions to the Social Security Trust Fund (also called the “payroll tax”) to stimulate the economy. The government would attempt to recoup these new losses to the Social Security Trust Fund by borrowing more, using downgraded U.S. government bonds. Democratic Senator Joe Manchin (D-WV) and I agree that we should protect Social Security’s Trust Fund and the video below will tell you why.
What Do You Think?
Should Congress cut contributions to the Social Security Trust Fund (replacing these losses with downgraded Treasury debt) in effort to stimulate the economy?
[]Yes
[]No
[]Do not know
In response to this email, I wrote to Senator Kirk directly:
Senator Kirk,
I just received the following question from you in your newsletter:
"Should Congress cut contributions to the Social Security Trust Fund (replacing these losses with downgraded Treasury debt) in effort to stimulate the economy?"
You must think that I, and your other constituents are stupid. The payroll tax holiday is paid for from the general fund -- and you know this perfectly well. The Social Security trust fund is fully funded, and is not at risk by last years deal, or by any proposals currently on the table to extend the holiday.
Furthermore, your scaremongering over "downgraded Treasury debt" is absurd. Yes, US Debt was downgraded by S&P (who cited REPUBLICAN INTRANSIGENCE TO RAISING TAXES as a big part of thew reason). And what was the effect on US Treasuries? The yield went down, not up -- the cost of financing US debt is at historic lows. US Debt is still seen as the safest in the world -- especially with the European debt crisis.
Assuming you understand these basic facts, you are being willfully misleading. That is not unexpected from a member of the Senate, but it is just as shameful as ever.
You bring no honor to your office.
I encourage you all to write to Senator Kirk and tell him to cut the crap and be honest with his constituents.
It may also be worth a letter to Sen. Manchin to tell him to stop palling around with the likes of Kirk, and to be truthful and honest with his constituents, as well.
There's nothing quite so insulting as an elected official expecting you're stupid enough to believe his bullshit.