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URL:  http://boards.fool.com/this-is-hilarious-you-have-it-exactly-backwards-30299101.aspx

Subject:  Re: Harry Reid is dangerously stupid. Date:  10/4/2012  3:40 AM
Author:  AdvocatusDiaboli Number:  646879 of 757813

This is hilarious. You have it exactly backwards. It *should* have been included in the budget. It *should* have been consolidated. It's just like when a parent company owns a subsidiary. You consolidate the results. You don't carve out the subsidiary's results.
...
By the way, those "investments" in bonds are bogus assets that are *exactly* offset by government liabilities, so it provides no economic benefit whatsoever.



No really?
What *should* have been done is separate out Social Security and the trust fund as a separate legal entity - an insurance scheme.

Increasing payroll taxes with the express aim of creating a trust fund to finance the eventual deficit of the scheme then treating the additional revenue as general tax revenue completely defeats the purpose of the tax hike.
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