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Thread: Social Security Means Test
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Old 08-05-2014, 12:24 PM
REDCART REDCART is offline
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Quote:
Originally Posted by folkh View Post
Right LBJ was the problem, prior SS was a separate account not in the general fund.
It's called creative accounting. By including SS in the general budget LBJ was able to take credit for a balanced budget. He offset the cost of the Vietnam war (on paper) with the FICA taxes earmarked for SS. It gave the impression that we had a balanced budget. There was really no other reason to consolidate SS into the federal budget, either then or now. As you know SS benefi payments are a mandatory obligation, not discretionary, and does not require annual appropriations by Congress.