Dems Say Social Security Doesn't Add to Deficit

Congressional Democrats say they aren't willing to consider changes in Social Security in order to avoid the "fiscal cliff."  On Sunday, November 25, 2012, Senator Dick Durbin (D-IL), on ABC's This Week, said, "Social Security does not add one penny to the deficit.  Not a penny.  It's a separate funded operation, and we can do things that I believe we should now, smaller things, played out over the long term that gives it solvency."  Durbin also said that Social Security needs only a few minor tweaks, but no major reforms to ensure its long-term solvency.  And, Rep. Xavier Becerra (D-CA), at a recent hearing by the House Ways and Means Social Security subcommittee, said, "Over 77 years and now through 13 recessions, Social Security has not added one penny to our deficit or our debt." What Durbin and Becerra said about Social Security not adding to the deficit may be, for now, technically true, but "Social Security shortfalls are [indirectly] adding to the...(Read Full Article)

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