From Politico:
[A]n analysis by Social Security’s chief actuary, Stephen Goss, suggests there’s less to the new House rule [restricting the ability of the House to consider legislation to shift money from Social Security's Retirement Trust Fund to the Disability Trust Fund] than meets the eye. That’s because the point of order is triggered only if lawmakers exceed a “0.01 percent” threshold, which equates to a $38.6 billion cap on what any one Congress can move from the retirement fund, Goss told POLITICO.
4 comments:
There appears to be quite a bit of wriggle room for Congress to get out of this self-created "crisis," especially if cuts to Social Security prove to be politically unpopular. Couldn't the allocation in the budget to increased CDRs, with a calculated $9 of savings to $1 spent, be enough savings alone to allow the reallocation between the trust funds?
No, because $9 in savings for every $1 spent is a bullshit number they pulled out of thin air.
The trust fund is bullshit numbers
What liquidity backs those numbers?
Simple solution. Pay back the 2.7 trillion that the Federal Government "borrowed" stole from the fund.
http://www.fedsmith.com/2013/05/23/government-owes-2-7-trillion-to-social-security/
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