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|User Info||Social Security -- We're Still Lying To Ourselves; entered at 2012-04-24 22:26:36|
Registered: 2009-03-08 Greenville, SC.
Don't worry about the payroll tax cut. Congress is making up for it out of the General Fund. (I can't even type that without laughing out loud). What they're doing is issuing yet more IOUs to the trust funds to make up for the lost revenue.
What this does is essentially acrue twice the debt. Once for real money bonds in the debt held by the public column to make up for the lost revenue in real time, and then as more IOUs in the intragov column, which will have to be made up by more borrowing from the public in the future.