Here’s a juicy bit from CNN indicating President Bush has tapped the Social Security surplus for his tax cuts for the wealthy, something he pledged he’d never do. Bush’s solution? Depend on large corporations to pay their taxes early. Hah, yeah, that’ll happen right after Microsoft admits it used its monopoly to harm competitors and consumers.
And here’s Paul Krugman’s take on the situation, drawing the fine line between explicit and implicit debt in relation to the surplus that never was.
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