Among other things, he came up with the idea for the SS TF at a time of tremendous deficit spending by the general fund. He didn't cure cancer or put a chicken in every pot, but came up with a proposal suited to attitudes of the times, when even Ronald Reagan was loathe to touch the 'third rail'.
>>>>>All the "squeezing out of federal income taxes would have been eliminated and the bite of FICA much smaller with a large resulting economic growth.
No resulting growth. The money that would have been borrowed by the gov't from the SSTF would instead have come from the private capital markets, an offset to the money still in the workers pockets. If any of those workers chose not to invest that money, interest rates would have probably been higher and growth lower.
>>>>>This would have produced that much less debt...In turn, there would have been a lot less interest paid on the debt and interest rates would have been lower.
Not quite. All the debt was because of spending by the general fund. Without the SSTF to absorb some of it, the interest rates (and therefore the debt in later years and interest payments) would have been higher.
