Yet, the trust funds have not added one red hot cent to the current debt. In fact, if you do the correct thing, and use revenue increases to pay off the current debt, you will strengthen both Social Security and Medicare.
However, if you have taken a vow to "never increase taxes", you essentially are using the magician's cape to distract the audience (citizens of the USA), and thereby changing the lady in the cage (past debt) into the tiger in the cage (long term unfunded liabilities).
WE HAVE BOTH A SPENDING PROBLEM AND A REVENUE PROBLEM.
(a) Currently, tax revenues at 14.8% of GDP, is at the lowest rate in over 70 years, and spending at 24.1 % of GDP is at its highest. Any fifth grader can do the math, so why can't our so-called leaders?
If we were dealing in honest (non-Enron) accounting, we would require the operating budget to raise taxes (income, estate and excise taxes) to REPAY THE IOUS of over $7T (Social Security, Medicare and other trust funds, paid for by regressive tax cuts.)
Not to do so would result in the largest transfer of wealth from the working class (regressive FICA tax surplus) to the tuber affluent (progressive tax cuts, and estate tax shenanigans - 0% tax in 2010)
The neo-con Republicans are ideologues, who do not understand the debt/ deficit issue. While, Democrats are both chicken, and do not know how to explain it.
Here is how to explain the deficit and debt issue (an illustration):
Case for Spending Cuts: If we stop the two wars in Iraq & Afghanistan. as of this moment - we stop future deficits and debt increases. However, we do not make a dent (not 1 cent) in past debt, which with the power of compounding grows exponentially, no matter who is in office. {Point in case: Clinton reduced the operating budget surplus for 2 years (4 years surplus was with borrowing from the trust funds), yet the national debt still grew by $2.3T.}
Case for Revenue Increases: We still have to pay for 10-years of War - in Afghanistan and Iraq. We can't unwind those or the "off budget" spending on those wars. Paying the $1.3 T for the past wars will need Revenue increases.
The worst error the American people made was voting in the GOP majority in the House in 2010. They are ideologues, who put their pledge to "never increase taxes" to Grover Norquist over their pledge to "defend and protect the USA". I have requested the Justice department to investigate, if this is a "treasonable offense".
The current republican crop is neo-conservatives (both for wars, and for tax cuts). They are not your grandfathers "true" conservatives. (i.e. Eisenhower Administration) The current GOP must be sent the way of the "Whip Party".
The greatest threat to the USA is the debt and deficit!
God Save America from the entrenched interests, intransigent politicians, and unknowledgeable leaders.
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