VIDEO- Ronald Reagan: "Social Security has nothing to do with the deficit."


Saint Ronnie, who by today's standards would be too liberal to so much as qualify as a Republican candidate, has spoken. But the GOP's selective memory will magically scrub these quotes from their god hero:

"Social Security has nothing to do with the deficit. Social Security is totally funded by the payroll tax levied on employer and employee."

"Social Security has nothing to do with balancing a budget or erasing or lowering the deficit."


At the first Reagan-Mondale debate in 1984, Reagan set the record straight about Social Security.

Credit to Bill Scher and the Campaign for America's Future for unearthing this quote from Reagan.

Of course, that so-called “fiscal cliff” is more like a “fiscal slope” or “fiscal curb.”

And thankfully, V.P. Biden “flat guarantees” no changes in Social Security, which “effectively takes Social Security off the table.”

  • David G

    What should, but doesn't amaze me is that the Republicans look at Ronald Reagan as such a hero, when in statistical reality, he was a terrible president economically.   He did oversee the fall of the Berlin Wall but he was terrible when it came to human rights, social services for the poor, and he just plain turned his back on the mentally ill and disturbed, preferring to cast them out on the streets where the lucky ones were those they arrested for vagrancy and were put into police custody and at least given a shelter and some sort of a meal, (between police/inmate beatings, rapes and other horrendous treatment  -- and all this while withholding necessary medical treatment.  DG

  • Putting people back to work will add revenue to the trust, but increasing FICA won't break the backs of workers either if it's reasonable. Both parties dipped into the trust which is why Al Gore wanted to keep it in a "Locked Box". Let's strive for employment first, minor reform (not privatization) later, to keep SS fiscally healthy for future generations. We may even be able to raise the amount retirees get so they can keep up with the cost of living, and not have to choose between their medication and food. This nation, the richest nation on the planet, can do this.

  • cognachas4paws

    The truth is that sometime in the future (and forgive me, I forget the year at the moment), recipients of social security will be able to get only about 76% of the benefit due them.  There are a lot of people talking about what to do about social security and while it doesn't add to the deficit, something does need to be done to ensure people get all the benefit they are entitled to.  It does seem like a way to solve this, at least in part, is to increase the social security tax people pay.  It might not be popular but wouldn't this help the situation?  I don't even think it has to be a large increase.

    I don't know if anyone reading here can speak to this but if you can, I'd like to hear your take on it.   Wouldn't a modest increase in the SS tax go a long way toward ensuring people get 100% of their benefit?