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Old 11-21-2007, 03:27 PM
ConstantineX ConstantineX is offline
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Join Date: May 2006
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Default Re: Washington Post Fact Checker Questions Paul\'s plans.

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You're really missing a much, much, much larger picture. Current obligations of the US Federal government (not debt, obligations) are at least $60T. There is no way that is going to be paid unless the government just prints enough money to destroy the currency. In short, something has to give somewhere, whether you like it or not, no matter who gets elected.



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First, the unfunded liability figure you give is grossly exaggerated. Most reliable claims I've seen range from 30-45 trillion dollars.

Second, this claim is empirically false:
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There is no way that is going to be paid unless the government just prints enough money to destroy the currency.


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There exist plans that do address the long-term funding problems of our liabilities, most of which involve hiking payroll taxes to unprecedented levels. Inflation is not the only method by which the government can solve its problem, it just seems to be the Paulite pet issue. We could also rather easily fix the Social Security issue by slightly delaying benefits.
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