Tuesday, April 05, 2005
When will Bush have Spent the Trust Fund?
You know those national debt clocks?
I think someone should make a "He Spent the Trust Fund" countdown clock. It would project the day when the Bush administration has spent all the money in the Social Security Trust fund.
Technically, I think the day has already come and gone, since the gross public debt has increased by more than $2 Trillion since Bush was inaugurated in 2001, while the trust fund has only about $1.7 Trillion.
But if you go by the increase of the publicly held debt, we've only borrowed about $1.2 trillion, and the administration doesn't project it will have borrowed $1.7 Trillion until fiscal year 2006.
I think someone should make a "He Spent the Trust Fund" countdown clock. It would project the day when the Bush administration has spent all the money in the Social Security Trust fund.
Technically, I think the day has already come and gone, since the gross public debt has increased by more than $2 Trillion since Bush was inaugurated in 2001, while the trust fund has only about $1.7 Trillion.
But if you go by the increase of the publicly held debt, we've only borrowed about $1.2 trillion, and the administration doesn't project it will have borrowed $1.7 Trillion until fiscal year 2006.
