Quote:
Originally posted by Superbelt
We wouldn't see that specific chunk of money back, ever.
That money, our federal deficit interest payments, are needed to shore up Social Security. If we don't, Social Security is in danger of completely collapsing. We are currently on a course towards national bankruptcy.
This country does depend on social security, without it millions would sink into poverty. And as the baby boomers start retiring, it will become more and more important to shore up.
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Exactly, the government would keep it. That is the opposite of what you alluded to in your first post on what we could do with the debt payments.
As far as social security, it absolutely needs help and the baby boomers will be a huge burden to the system. Now, let's prioritize the current expenditures of the government and put the money where it's needed most. When you learn your expenses will significantly increase in the coming year (say rent goes up) do you expect your current employer to automatically cough up? It would be nice, but we know that doesn't usually happen. You are forced to cut back on going out to dinner, perhaps make due with your current car, give up the name brand products and go with generics. The government continually increases spending and almost never eliminates a program. They simply pass the cost along to the taxpayer. Taxes should not be raised unless all other options have been tried and or exhausted. Tax cuts can help to force that process along. Of course it won't work if the current admin decides later to raise taxes or the next admin repeals the cuts or enacts new taxes.