Social Security is Broke

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Apr 3, 2016 No Comments ›› Editor

Social Security is Broke

Social Security is broke now. There is a group called the Social Security Trustees. Their job is to insure that the SS trust fund is run responsibly. Oops. The sad truth is that their has never been a SS trust fund. When President Roosevelt signed the SS bill into law in 1934 it guaranteed a retirement income for the elderly. Everyone over 64 years of age would qualify to receive a check every month for the rest of their life based on their contribution to the trust fund. The average person in 1934 did not live to see 64 years of age. Forgot to mention that. Also forgot to mention that the cash the government received went into the General Fund where it was promptly spent.

Social Security is Now Broke.

There has never been any money in the SS Trust Fund. Never. There is a room full of filing cabinets and the filing cabinets are full of IOU’s from the United States Congress. The SS checks are not cashed against the SS Trust Fund. It has no money. The cash comes from the General Fund. Our government does not want you to know this.

Last year our Congress had to move more money into the SS money bucket to keep the checks from bouncing and passed a bill to move the necessary funds from the General Fund into the SS money bucket and proudly proclaimed that they had ‘saved’ SS for another decade. Saved it from their own greed and stupidity.

Folks, the truth is that the United States is just as broke as is Greece. Last year our Congress had to borrow over $500 Billion to pay the $230 Billion in interest payment that was due. Yep, like Greece, we are borrowing money just to pay the interest on the money that we have already borrowed. Is Social Security safe? Please read the above.

Paid for by votejimnash Stacey Gillp Treasurer

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