George Will gets it wrong on Social Security

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George Will gets it wrong on Social Security

IslandPacket
info@islandpacket.com
Published Thursday, December 27, 2012   |  212 Words  |  

I feel compelled to call attention to the disinformation and misinformation in George Will's Dec. 13 column.

Will selects portions of a letter from Charles P. Blahouse III to The Washington Post to say that in 2012 the Social Security program will add $165 billion because benefit expenditures exceed Social Security tax revenue by that amount, and "this gap is filled entirely by revenues that the federal government borrows."

This completely ignores the fact that the Social Security Administration has brought in an excess of funds over the years and has a surplus on the books that will last approximately 25 years.

Our Congress these past few years chose to reduce the Social Security tax rate by 2 percent due to the great recession, which we are still suffering from. This of course was not a proper way to get or distribute stimulus money.

David Stockman, budget director during the Reagan presidency, addressed the question of what has happened to the Social Security surplus. Stockman correctly answered that it went toward aircraft carriers, etc. Great presidents come about during war time. George W. Bush in his quest to become a great president brought us off-budget wars.

John R. Davenport

Sun City Hilton Head