Grossly misunderstood is economics, and our US economic dilemma.
Explained to me by Mrs. Kaputa, whose husband wrote the Social Security Law under President Franklin d Roosevelt, was how it was meant to preserve the economic platform. When a working person retires, a space for a new worker with his training plus the new training; they go on to continue to spend based on what they were supporting with their spending when they were working. But less.
First, they need to buy less because they have it already. Next, they still have to contribute to toward the salaries of others. More people to support with their spending and the contribution through their social security, an obligation to contribute to the economic well being of society, makes for a cost of living increase necessity.
The government offers to give people their money back when they invest in bonds. Is that a debt? No! It's a promissory note. A promise, not a burden on our youth, but a promise that there will be government issue for the future worker.
The assumption of the government debt is a promise to contribute to the prosperity of all, all within the economy. After all, the government is the institution that makes the money, and that institution can never go bankrupt. That's just plain stupid.
The threat is a misunderstanding of the debt and ignorance of the global ratio system of economics all governments are subject to respect.
Taxes represent an obligation to contribute to the appropriation that goes back by a multiple of what it represents through apportionment. Allotment for government spending is regulated wholly and solely by Congress with their authority for allocation; and their increase of spending is the only way to infuse the economy with more money.
Debt? The debt is a validation for the issuance of money in the future. The deficit is the lack of appropriation when the apportionment is log jammed over the values on spending issues. Government spending is a metaphor for allocation. The government makes the money, so spending is the issuance of contracts, and repayment into the private sector of their promissory notes.
To privatize social Security is tantamount to allow Congress to issue letters of marque. Look that up.
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