Moynihan on Social Security "Woes"

[Christian Gregory]

> "1. Using the excess FICA to pay down the debt does not "spend" Trust Fund
> money as Moynihan claims, but just substitutes one debt for another, with
a
> net of no change except for interest. Am I right?
>
> mbs:  No.  Using FICA to pay down non-FICA debt doesn't make the Trust
Fund
> balance any bigger.  Arguably, less non-FICA debt makes the Feds more able
> to pay SocSec, but we could say the same for public investment.

Isn't this what he said--only he said the trust fund would be smaller?

Christian