[lbo-talk] question for doug: bush's remark about IOUs and the SS surplus

ravi gadfly at exitleft.org
Mon May 2 14:32:05 PDT 2005


doug,

in your interview in hugh hamilton's show (btw, what's up with his accent? where is he from?), you mentioned that bush is correct in a way i.e., the money to pay the SS borrowing (treasury bonds?) has to come from somewhere -- potentially tax increase, etc. however, what you failed to mention was that in a way this was a clever transfer of the SS surplus i.e., bush would not be in the situation he is if he hadn't used the SS surplus, reincarnated as govt bonds inflow, to hand out tax cuts to the wealthy and fund the iraq war, etc. isn't that true?

--ravi



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