Thursday, January 27, 2011

Social Security does not and never has added a single dime to the federal deficit. Social Security is paid for through the payroll tax. Currently, the payroll tax raises way more money than Social Security pays out and things are projected to keep going this way for another couple of decades.

The wars in Iraq and Afghanistan? They add to the deficit. Tax breaks for billionaires? They add to the deficit. Subsidies for big oil? They add to the deficit. Bailing out Wall Street adds a lot to the deficit.

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