The Lockbox is Empty

I seem to remember something the candidates were saying in the last presidential election about putting Social Security money in a “lockbox”. Well, the box is empty; all the money in the Social Security trust fund has all been loaned out to finance the budget deficit.

There was a time when my Republican friends were pretty sure that Social Security would never be there when they retired, while I figured the senior citizen’s lobby would make sure it was. But today, the Republicans are saying that Social Security is safe, and I don’t see how that’s possible. The current and projected budget deficits are of such a magnitude–that plus the fact that the Social Security trust fund is empty–plus boomers reaching retirement, that there is not enough money in the country to fund Social Security and Medicare if present policies and trends continue. And our do and say anything to get re-elected President and our do and say anything to get re-elected Congress shows no sign of fixing it when they extending the Bush tax cuts on Friday.

So which is worse: the stereotypical “tax and spend liberal” or the “cut tax and spend conservative”? I don’t care much for either but my kids (who will be stuck with this mess) will like them even less. It’s amazing how just 4 short years have turned me from an optimist to a pessamist. Learn more about the deficit.

About Kevin

Just an old guy with opinions that I like to bounce off other people.
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