Sean King

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Knoxville, Tennessee, United States

Thursday, March 25, 2010

Rodney Johnson:

Our government runs a deficit, and a whopper of a deficit at that. Deficits must be repaid in the future. Hence, money intended to fund Social Security is taxed from workers in a form of forced savings, but is then being lent to the US government so that the government can spend in excess of it’s income. There is no savings. None. Zip. In order to repay this money, which the US government must start doing this year, the government will have to issue more bonds to other suckers investors and send the funds back to the Social Security Administration.

The noose of fiscal profligacy is tightening.

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