Ronald Reagan: 'Social Security Has Nothing To Do With The Deficit'

Watch: At the first Reagan-Mondale debate in 1984, Republican Ronald Reagan set the record straight about Social Security.

I'm certainly no fan of Ronald Reagan and the “Trickle-Down” economics he popularized, but even he was straightforward when it came to this.

At the first Reagan-Mondale debate in 1984, Republican Ronald Reagan set the record straight about Social Security:

"Social Security, let’s lay it to rest once in for all…Social Security has nothing to do with the deficit. Social Security is totally funded by the payroll tax levied on employer and employee. If you reduce the outgo of Social Security, that money would not go into the general fund to reduce the deficit. It would go into the Social Security trust fund. So Social Security has nothing to do with balancing the budget or erasing or lowering the deficit."

Are you listening, President Obama?

Let the President know that you don't want Social Security on the cutting block:

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About Diane Sweet

Diane Sweet's picture
Senior Editor, Lives in a gerrymandered district in Michigan.

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