Pittsburgh, Pennsylvania – September 11 –
The President’s jobs bill could weaken chances of Medicare and Social Security’s survival. Case in point: Has the $500 billion already cut from Medicare, strengthened Medicare? If the supercommittee is forced to make across the board cuts, Medicare and Social Security will probably be cut some more.
The financial activities of the Federal Government defy standard accounting principles. Losses of revenue are discussed as expenses, by Democrats and others.
The above says that an expense is an outflow of money.
If we cannot agree on the meaning of words, confusion will result, and that is what we have with the Federal Government; confusion.
Social Security taxes are supposed to be used to provide Social Security benefits, but the Federal Government hijacks the taxes for Social Security and uses them for its convenience. To me, this is more than confusion, it is legal misappropriation.
Paul Ryan seems to understand the machinations of the Federal Government, and I have more confidence in him than Harry Reid and Pelosi for example. Pelosi’s statement that you have to pass the bill to find out what’s in it, put her on my ignore list. The passage of the $500 billion debt limit increase, in the Senate, put Democrats and Harry Reid on my alarm alert.
Beware! Indiscriminate debt limit increases will lead to scrutiny by lenders and credit agencies. Scrutiny by lenders and credit rating agencies led to austerity in Greece and other places.