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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. missing persons.com Public-records-of-police-reports. . . "Meanwhile, a reliably sane voice in this whole matter, Robert Kuttner, wrote in the Washington Post: "A budget is a means, not an end. missing persons.com Cellular phone numbers. 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. missing persons.com Nude celebs missing there panties. 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 . . . The Social Security surplus is an accounting fiction. It didn't even exist until about 18 months ago, when some Democratic advisers thought such an invention might be a good bulwark against candidate Bush's proposed tax cut. In light of swelling surpluses, merely to 'Save Social Security First' wasn't enough of a defense, so Democrats raised the rhetorical bar to 'Save the Social Security Surplus First. ' Republicans were cowed into agreeing that we should put the surplus some place where it couldn't be touched. This fictional 'lock box' was harmless enough when the economy was booming, but makes no sense when it's slowing. The White House should be clear with the public: Under current conditions, it's perfectly permissible for total government expenses to rise relative to total revenues, including revenues from payroll taxes and current payouts for Social Security. And Democrats should stop their bellyaching about 'raids. 'RICHARD B. DU BOFF, professor of economics at Bryn Mawr College: "If the real GDP growth is as slow as the projections, can anyone believe that the stock market will not be adversely affected? If the stock market is rising at a healthy pace then Social Security will also have the funds it needs to keep solvent and there is no case for privatization, especially since Social Security has a lean and mean overhead cost of only 1 percent whereas similar private sector endeavors such as the life insurance industry have exorbitant overhead rates averaging 12 to 14 percent of the benefits. "MARK WEISBROT, Center for Economic and Policy Research: "The 'President's Commission to Strengthen Social Security' is anything but that. The standard projections, which are used by the Commission, assume the slowest economic growth in the nation's history.
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