“Social Security actually is not contributing to the deficit. Social Security loans us money. … When are we gonna have some equity, one America, shared sacrifice…? I mean, we’re asking the poorest Americans to sacrifice; when are the wealthiest Americans gonna step up and do the patriotic thing, which is to contribute to help to deal with this budget deficit?”
White House Budget Director Jacob Lew wrote recently that “Social Security benefits are entirely self-financing. They are paid for with payroll taxes collected from workers and their employers throughout their careers.” Prominent economists like Paul Krugman have debunked the notion that there’s a “Social Security crisis” that demands deep cuts.
Polls continue to show that Americans like their Social Security just the way it is, thankyouverymuch… including Republicans.