Food For Thought|
Social Security Is Not Going Broke! - Part 1
David Lawrence Dewey
"Reading provides knowledge...
knowledge leads to answers."
Social Security Is Not Going Broke!|
It has a 100 billion dollar surplus.
We don't have a 63 billion dollar surplus,
but a 37 billion dollar deficit!
Below are the facts ! - June, 1998
The social security figures below were collected from the Social Security website and the General Accounting Office, Washington.
In 1968, President Johnson, to finance the Viet Nam war, ordered that the Social Security payroll taxes be added to the general funds. They would no longer be kept separate. Without doing this, Johnson would have faced an uphill battle with the American people in financing the war. It provided an easy means for Johnson to balance the "books" so to speak without confrontation. In truth, Social Security funds financed the Viet Nam war. Since 1968, the Social Security payroll taxes have been added to the general treasury fund. The funds are running in excess of 100 billion a year. If the funds were not placed in the General Funds, we would have a 63 billion dollar deficit instead of the 37 billion surplus that you are being told we have. But the funds are still being put into the General Treasury fund. Why do the politicians let this situation remain? Because a federal budget still in deficit is a disincentive to spending. After all, which politician will stand up and say, "Let's just keep spending because it's coming out of Social Security anyway." With a real deficit on the books, not counting social security trust funds, politicans would have to be more accountable. Isn't it about time that this severe deception be corrected?
Since 1937, approximately $5 trillion, 461 billion, 239 million dollars has been paid in social security taxes. Out of this, approximately, 4 trillion, 894 billion, 978 million dollars has been paid out in benefits. Since 1968, $5 trillion, 245 billion, 190 million has been placed in the General Treasury Funds. $4 trillion, 705 billion, 181 million has been paid out in benefits. If the funds had been invested and managed more efficiently, (read my analysis of actual data from Social Security and the General Accounting office ) there would be a balance in excess of 1 trillion, 900 billion dollars. The last ten years, there has been an average 40-75 billion surplus. And this does not count the medicare health insurance funds. Isn't it amazing how the politicians manipulate the truth and the American people don't know any different. By the way, our national debt is 4 trillion dollars. Well, you now know the truth...what will the American people do about it? I strongly urge Americans to write their Congressmen and Senators and demand that this financial deception be corrected immediately. It is not time for truth to prevail instead of this political double speak. I don't know about you, but I am very offended by these lies. Please don't sit still and believe what you are being told by politicians about Social Security and please do not let them change Social Security. If you do, you will have given the politicians the biggest victory they have ever pulled on the American people, using lies and deception. If you don't believe what I have just told you, write the General Accounting Office, Washington, D.C. They will tell you the same thing concerning where Social Security taxes have been placed. By the way, Medicare is not in the financial woes that you are led to believe either. If the 100 million plus a year in fraud would be cleaned up by the government by poor adminstration, and immigrants that are not U.S. citizens were taken off Medicaid which is paid out of the Medicare funds, there would be more than enough to safeguard Medicare. Just another what I term, the usual "screwed up mess" that a bunch of bureaucrats and misguided self serving politicans in our government have done.
The social security figures above were collected from the Social Security website and the the General Accounting Office, Washington.
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