• By Karl Denninger, The Market Ticker
Now the interesting part of the game begins....
This year, for the first time since the 1980s, when Congress last overhauled Social Security, the retirement program is projected to pay out more in benefits than it collects in taxes -- nearly $29 billion more.
In a world where we talk about trillions, this doesn't sound like much. But it's not the amount that's the problem - it's the direction.
For decades government has cooked its books by stealing the Social Security taxes you pay. This was the infamous "lock box" debate had during Gore's campaign. Too bad Mr. "the world's getting hotter so I have to live in my 20,000 sqft mansion with the AC blasting in all 79 rooms" Gore decided to make a partisan political issue out of something that his boss (that would be Herr Clinton) had practiced himself to make the (false) claim that he had run a surplus!
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