If one digs deep enough you will find the root of any problem. Way back in the
1960s another Lib-Dem Progressive LBJ started to monkey with the Social Security Trust Funds (SSTF). He transfer the accumulated funds to US Bonds, so they could spend the money on other things. Treasury owes the Trust Fund over $2.5 B. The Treasury is flat broke, until 2010 tax revenue starts to flow in, which is guaranteed to be a shortfall.
SSTF outlay for 2010 exceeded tax revenue by $76 B. And guess what? As a trailer to the Extension of the Bush Tax Bill, the same bunch added a 2% employee deduction for 2011. That may stimulate the economy,but that really does nothing to solvency.
Every state, with the exception of AK,AR,MT,and ND budgets are bleeding red ink. Feds can't help, they shot their wad in backfilling the same states with some of the moneys, suppose to be spent on stimulus projects. Cut the damn spending, and issue IOU's.
Did anyone hear if the New Hawaiian governor found PP's original birth certificate?
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