05-07-2012, 03:10 PM
The tax rebates that taxpayers now enjoy weren't part of the Bush tax plan. Democrats argued, correctly, for front-loading a rebate to help kick-start the economy. Keynesian economists, admittedly an endangered species, are suggesting that significant deficit spending might be necessary to get us out of this downturn. At the very least, government shouldn't be running a surplus in the midst of a global downturn.
Sure, what is left of the surplus comes from Social Security and Medicare payroll taxes, but so what? Spending the surplus doesn't "raid" Social Security and Medicare. The trust funds are credited with government bonds for every dollar of surplus, no matter what is done with the money. Both parties "raided" the trust-fund surpluses for years without anyone saying a word.
Sure, what is left of the surplus comes from Social Security and Medicare payroll taxes, but so what? Spending the surplus doesn't "raid" Social Security and Medicare. The trust funds are credited with government bonds for every dollar of surplus, no matter what is done with the money. Both parties "raided" the trust-fund surpluses for years without anyone saying a word.