Ronald Reagan: 'Social Security has nothing to do with the deficit'

Sigh. We've been forced to resort to playing old video clips of Ronald Reagan to explain why Social Security benefit cuts should never be part of a deal to reduce the deficit.

Social Security has nothing to do with the deficit. Social Security is totally funded by the payroll tax levied on employer and employee. If you reduce the outgo of Social Security, that money would not go into the general fund to reduce the deficit. It would go into the Social Security Trust Fund. So Social Security has nothing to do with balancing a budget or erasing or growing the deficit.

And despite Monday's "cliff" offer, as of three weeks ago, the White House agreed.

h/t: Matthew Filipowicz

::

Send an email asking President Obama to take Social Security cuts off the table.