Bad habit.(Correspondence)(Letter to the Editor)
American Prospect, The, April, 2005 by Dalzell, Gerald
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I FEAR THAT DEAN BAKER'S casual brush-off of Social Security's "accounting fiction" ["Bush's Numbers Racket," February]--that it will be paid for by general funds when the notes come due--is too optimistic. If we have an administration that can balance a budget when the bills come due, either the government will have to defund other programs or raise taxes.
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The accounting fiction is a useful tool when the general budget is in balance. By buying government bonds, the Social Security Administration relieves the ...
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