LETTERS: BAD INFO STILL OUT THERE ON BUDGET

To the editor:

About a balanced federal budget, budget surplus and privatizing Social Security and-or trust fund, a hideous knot of misinformation prevails.

What is being touted as a balanced budget and even a surplus is perpetrated by using money borrowed from the Social Security Trust Fund and other trust funds as current income (this will amount to about $184 billion this current year). In real terms, there will be no balanced budget, much less a surplus.

Individuals investing part of their Social Security in private investments as well as investing part (or all) of the Social Security Trust Fund in private securities would throw Social Security into the vagaries of the marketplace. Money in the Social Security Trust Fund (with the interest perhaps less than the current private market) is well-placed. The crux of the matter is that it is not available and probably will not be available when needed because of the insolvency of the government. Additional taxes (or more bonds) will be needed. There's no money there, only paper.

There is very little amiss with our present system that an increased measure of integrity would not cure on the part of elected officials along with an increased awareness, interest and understanding on the part of the populace. Ask your U.S. representative or senator.

GILBERT DEGENHARDT

Cape Girardeau