1. These Republicans are lying. Social Security has paid all benefits owed in 11 prior yrs when revenues were less than payouts. No one remembers any catastrophe of people not getting their benefits, because there weren’t any!
    The private alternative to Social Security – 401k's – are a much worse disaster (see Wall Street Journal article )
    Scarcity of fiat currency (paper money) is politically contrived, not natural. The Federal Reserve loaned $16.1 trillion to the banks! (See GAO Report 11-696 on line.) There's no tenable distinction between liquidity support for bank ("persons") and government job creation and mortgage payment support (for real human people.)

  2. The annual share of the U.S. budget spent on programs benefiting seniors has increased rapidly in the past few decades. More importantly is that these same programs under current law are expected to continue to increase rapidly in decades to come. Data on Social Security and Medicare spending from the Congressional Budget Office is used to show the historical trends and projected share of the budget between 1970 and 2084. In 1970, spending on Social Security and Medicare was one-fifth of the budget. This portion has since grown to nearly 37%of the budget in 2010; this amounts to 8.4% of the country's gross domestic product.

    The growing number of beneficiaries due to the aging of the baby-boom generation will cause scheduled spending to surge. If current Social Security and Medicare policies continue without change, large deficits will undoubtedly emerge in the next decade and will grow even larger in subsequent decades. Undoubtedly, these trends are unsustainable, and current law cannot be allowed to stand if these entitlement programs are to remain solvent without bankrupting the federal government <a href="http://(” target=”_blank”>(

  3. Here's all you need to know about Mitch Daniels, from wikipedia:During his tenure as head of the Office of Management and Budget, from 2001 to 2003, the federal budget went from an annual surplus of $236 billion to a deficit of $400 billion, and Daniels's projection of a return to surplus by 2005 proved to be inaccurate