10 thoughts on “Forbes post, “Yes, Social Security Does Indeed Add To The Federal Deficit”

  1. no need to “re-think” Social Security…simply eliminate the income cap on which SS taxes are paid (now!)…of course, that (or other measures) should have been done a couple of decades ago…

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  2. Your argument was hard to read and follow and frankly made no sense. You just took the information that was written by Teresa Ghilarducci and put another spin on it. Frankly, if I were a woman who bets, my bet would be on Teresa. Who has 25 years as a professor of economics at the University of Notre Dame.

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  3. Gee Jane you didn’t mention the hundreds of millions owed to SS by our government (meaning us). I assume this is because paying it back would mean tax increases for, well, everyone. So, to save SS both eliminating the salary cap and stopping using SS to close budget gaps will be necessary. If you don’t know that you’re either a liar or incredibly stupid, or both. Next time, how about telling the whole story.

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    1. You must have missed this section of the article: “each dollar of Trust Fund bond redeemed, is another dollar which the requires the issuing of more bonds.”

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  4. I read your argument. I am not convinced in the least. SS can not borrow money. So there is no way it can add to the deficit. If nothing is done, then benefits will have to be cut.

    The “duck” government spends more than it earns. It has no savings. It borrows to make up the difference. It refuses to stop borrowing, getting deeper and deeper in debt.

    The “duck” SS spends less than it earns (at least from 1983 to now). It has a nice savings account invested in treasury bonds. When the day comes when it has no savings and needs money, it will tighten its belt and live on what it earns.

    Sorry. Those are polar opposites.

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    1. Right now, Social Security is collecting in FICA taxes just 92% of what it pays out. In 2034, when the last treasury bond is redeemed, it’ll collect 77% of benefits in FICA taxes. No one imagines that Congress will simply let across-the-board 23% benefit cuts take place.

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  5. To me, and I’m no accountant, your omission of the actual reason for the largest deficit increase ever (the 2017 tax cut for the rich), makes your points seem more like smoke. You can argue your points about the program(s) need for reform, but the real issue is that our deficit is on track for an increase of $1.5 Trillion and how many people are going to be hurt by literally robbing from these programs. Unfunded wars and tax cuts for the rich few are the enemy of the People.

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  6. I’m a conservative and wide open to your premise, and I have an MBA from the University of Chicago. But I simply cannot follow your argument as stated here.

    And to the previous commenter: as I understand it, since the 2017 tax cut, fed revenues have actually increased, so we can’t really blame the cut for the deficit increase. So what does explain it? That would be the even larger increase in spending.

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