He is telling the truth too that the American People that have choosen to depend on Social Security, Medicare, & Medicaid better lower their expectations for benefits from Social Security and Medicare and Medicaid because the Federal Government is broke now and the Clinton Adminstaration confirmed it in 2000 and the only way to pay for those Welfare Enititlement programs is to raise taxes substantially since the Federal Government is broke now.<quoted text>Senator Bernie Sanders (I-VT)
"The CEO of Goldman Sachs is telling the American people to lower their expectations for benefits from Social Security and Medicare and Medicaid so that he and his wealthy friends can keep their tax breaks. Just about the arrogance of these guys on Wall Street who were bailed out by the middle-class of this country when their greed nearly destroyed the International Financial System and now they lecture the American people about the needs to cut programs for working families because of the recession they caused. Maybe the CEO's on Wall Street should lower their expectations before working families lower theirs."
"The GOP has given the wealthiest portion of the population tax breaks and are screaming for more. Then they come before the American people and are saying, we don't have enough money to protect the sick and the old."
It's funny how you think this country was the Garden of Eden until that evil half-black, half-white man got elected into office twice.
These [Trust Fund] balances are available to finance future benefit payments and other Trust Fund expenditures—but only in a bookkeeping sense.... They do not consist of real economic assets that can be drawn down in the future to fund benefits.
Instead, they are claims on the Treasury that, when redeemed, will
have to be financed by raising taxes, borrowing from the public, or reducing benefits or other expenditures. The existence of large Trust Fund balances, therefore, does not, by itself, have any impact on the Government’s ability to pay benefits.