Very social but not secure


For the first time in decades, Social Security is paying out more than it takes in. Pity there is no trust fund to back it up.
This article is another example of politicos playing fast and loose with the facts.

There is no "Social Security trust fund" set aside.

All "Social Security" money deducted from millions of paychecks goes into the general fund. Congress then decides how the general fund gets spent.

If Social Security was really about providing for seniors, the money would be invested and benefits would be paid out of part of the earnings. Even a straight savings account would generate some income other than what is extorted from Americans.

But no, the money goes straight into the OVERDRAWN no-interest-paid checking account. Some of that money is then paid back to the beneficiaries.

Don't believe me? Then ask your not-so-honest Congresscritter what happened to all that Social Security "surplus" from the the last thirty years.

— NeoWayland

Posted: Mon - September 28, 2009 at 11:35 AM  Tag


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