I’ve always had a problem with how the federal government handles the excess FICA. Everything I’ve read indicates that the excess is loaned to various branches of the government, and underwritten by T-Bills. For example, let’s say Veterans Affairs needs more money than is budgeted, and subsequently gets the added money from Social Security. The VA, or someone, issues a T-Bill. The only problem I have is: who the hell pays the interest on the T-Bill? If the federal government issues the T-Bill, isn’t the interest paid by the taxpayers, or am I missing something?p>Maybe you can tell me: is the Federal Government lending out money in which the interest is paid by somebody other than the taxpayers? I’ve always thought that money from the government was actually obtained from banks, and just underwritten by the Federal Government. It would seem to me that if the Federal Government actually was in lending business, the banking and credit union lobbies would have gone ballistic by now, and be in orbit. The American Spectator could do a great service to us ignorant Americans if they could explain how the Federal Government gets a 1-2% return on FICA money.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?