Social Security, Debt and Bond Ratings

The Heritage Foundation, a Washington, DC think tank, raises an alarming point this morning that expands upon yesterday’s discussion of threats to the US credit rating.   Each year the surplus that is taken in by Social Security is invested in US treasuries- except this year.  For the first time in the program’s history, there is no surplus.  This means that the Social Security Trust Fund is no longer loaning money to the Federal Government and we will have to look elsewhere to finance Washington, DC’s spending spree.  Perhaps now is not the time for Congress to be considering a trillion dollar government takeover of our health care system and focus instead on job growth and putting our current entitlement programs on a sustainable path moving forward.