As I suspected, Republicans backed down on the misnamed “payroll tax cut.” (Why did they even bother to raise an objection if they weren’t willing to stand on principle?) Americans, judging from all the sob stories over losing $20 a week that Mr. Obama produced yesterday, have already become dependent on this economically useless “temporary” measure.
Now the question becomes how we are going to pay for all this largess. The money will come out of the so-called “Social Security trust fund,” so how will it be made up? I don’t expect any real commensurate spending cuts. Will we borrow more from China, raise taxes later, or lower benefits? Money don’t grow on trees, folks.
Well, at least I’m getting some of my money now, since people like me cannot realistically expect to get a full Social Security benefit when we retire. Of course, this “tax cut” will make collecting all the harder, since it undermines the financial integrity of this already shaky program.
About Stan Guthrie
Stan Guthrie is an editor at large for Christianity Today magazine and for the Chuck Colson Center for Christian Worldview. His latest book is God's Story in 66 Verses. He also is author of All that Jesus Asks: How His Questions Can Teach and Transform Us, Missions in the Third Millennium: 21 Key Trends for the 21st Century, and A Concise Guide to Bible Prophecy. He is co-author of The Sacrament of Evangelism. Besides authoring, writing, and editing books, Stan is a literary agent, bringing together good authors, good books, and good publishers.
Stan writes the monthly Priorities colum for BreakPoint.org. He has appeared on National Public Radio's Tell Me More, WGN's Milt Rosenberg program, and many Christian shows, including The Eric Metaxas Show and Moody Radio's New Day Florida. A licensed minister and an inspirational speaker, he served as moderator for the Christian Book Expo panel discussion, Does the God of Christianity Exist, and What Difference Does It Make?
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