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After Robert Novak explained to Tim Russert that there is no Social Security Trust fund, Russert referred to it as the "so-called Social Security Trust Fund," which caused Lisa Myers to point out, "One thing we should add about the Social Security surplus: Until two years ago Congress and the President spent every dime of that money. find email adress Phone numbers new york neighborhoods. "RUSSERT: Including the Democrats. MYERS: Including the Democrats. And now it's being treated as though it's politically sacred. find email adress Find email adress. But economically it makes almost no difference. And Fox News' Brit Hume asked Larry Lindsey some time back: "We keep hearing that the Social Security surplus may be invaded, which is to say that these payroll tax revenues that come in, which are estimated to be in excess of what's necessary to pay benefits by somewhere between $155 and $160 billion this year, will not be touched, that they're in a quote, 'lock box,' unquote. In fact though, sir, isn't it the case that the money will be very much touched and it will be loaned back to the government. find email adress Free cell phone number lookup. Social Security will get IOUs or government securities and what will happen is the money will be used to pay down other government debt, correct?" Lindsey: "That's correct. . . "Meanwhile, a reliably sane voice in this whole matter, Robert Kuttner, wrote in the Washington Post: "A budget is a means, not an end. Until Ronald Reagan, the budget usually ran a modest deficit. Throughout the postwar boom, government borrowing financed things that Americans valued and that stimulated economic growth: highways, airports, jobs, a healthier and better educated population. As long as the economy grew faster than the public debt, deficits were no problem. Prolonged and excessive deficits such as Reagan's indeed do damage. But not until the overreaction to Reagan's deficits was budget balance per se equated with fiscal virtue. Ever since Reagan, Democrats have viewed deficits as a terrific club to pillory Republicans. This yields short-term satisfaction, but in the long run it just makes Democrats into a different kind of conservative party. "ROBERT REICH, WALL STREET JOURNAL: The Bush administration should state flatly that it doesn't matter if the so-called Social Security surplus erodes this year, or even next . . .
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