Vail Daily letter: Scapegoated program
Vail, CO, Colorado
This is in reply to John Roeser’s letter of criticism:
John, I don’t get it! The first four paragraphs of your letter merely reiterated my statements and I have no disagreement with any of that. But then you said that the program that we both described would cause taxpayers to pay twice. I do disagree with that.
When the Social Security trust fund needs cash they will have to return some bonds. Since we are in debt, the government will then issue and sell replacement bonds and receive cash in return. The net result is break even. Cash given out, bonds redeemed, new bonds issued, cash received. There is no net change to the government’s obligations. Taxpayers don’t pay twice.
The remaining paragraphs are your own thoughts and are not in reference to anything in my letter. I repeat, Social Security is getting a bad rap!
David Le Vine