Do you tell the banker that he is just going to have to live on less? Of the Federal debt,
$2.5 trillion is what is owed to the Social security trust fund. That's the fund that we make deposits into every time we get a pay check (at least those of us who make less than $107K annually).
I know we're going to hear a chorus of "there you go again, blaming Reagan," but at the same time he gave the wealthiest Americans the biggest tax break imaginable (until Bush Jr.) he also raised the payroll taxes paid by working stiffs. Now, although steady deposits by working Americans to the Social Security trusts actually have them $2.5 Trillion in the black, they are a target of both the GOP, and now the President.
Think It would help if I told Chase Bank that it's a little tough to make payments right now - maybe they ought learn to get by on less?
Regards,
D-Ray