The New increase in Salary-Decrease in Social Security

A few days ago, I received my first salary check of the year 2011 and saw a pleasant surprise that my contribution to the social security kitty will be reduced by almost two-thirds and the rest will be paid by the Federal government. All in all I have read that in order to make up for the shortfall; the Federal government will borrow more than 100 billion dollars in debt so that we can enjoy our increased amount in pay. This is good for the common people but again, the Federal debt will rise, although most people are not that concerned with the Federal debt (I highly doubt that) and in the long run, we will all end up paying for it through higher interest rates.

This is the main problem, who does not like lower taxes and more take home pay, but then how will the government be run, obviously they will have to borrow it and then more debt piled up and that means more interest and in the longer term, we will end up with higher interest rates on everything debt, like car loans, home mortgages etc. This is not being emphasized by the politicians and they are happier in cutting taxes than finding out how to raise revenues. They are just crossing their fingers in the hope that the higher growth in economy will take care of the situation, but this time around even the growth in economy will not be able to reduce the debt until we stop spending more than what we take in as revenue.