It's Open Season on Social Security!
|Sunday, 01 August 2010 19:27|
That's right folks, you get to say whatever you want in the media now to further the cause of cutting Social Security. Today on This Week, Cokie Roberts told viewers that:
"You could close this capital or turn it into condos and you could close down every domestic program that we have and you would still have a deficit because of Social Security and Medicare and interest on the national debt."
Well that's not quite right, Social Security is running an annual surplus. The money that program takes in each year in taxes and interest on its bonds exceeds what is being paid out in benefits. It's not clear what Ms. Roberts had in mind when blaming Social Security for the deficit, but it has nothing to do with reality.
Thanks to Gene Devaux who watched so I wouldn't have to.