Tag Archives: deficit
Those April showers have drowned the media this year with reports of a petulant, prosthetic protuberant princess, also know as “What’s Her Name” or “Smarmy Scandals.”
Meanwhile, back in Congress, 233 members – 54% of that angst body – voted to destroy the Social Security system by not allowing the use of its $2.9 trillion in reserves, forcing cuts of up to 24% in coming years.
As a big boy bonus, this bookkeeping manipulation will allow the fiscal twits to proclaim that nearly three trillion dollars has been cut from the National Debt. These reserves come from excess FICA taxes previously paid by Americans to subsidize years where there was a tax collection shortfall.
But like Tiger Woods winning this year’s Masters (tied at 32), it was not to be. The bill – H.J. Res 2 – required a 66% vote to pass. It fell short by 12%, but under House rules this Constitutional Amendment can be brought up over and over again. Continue reading →