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Old 04-11-2011, 03:17 PM  
KILLER_CLOWN KILLER_CLOWN is offline
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U.S. Loots Social Security to Wage Wars

April 11, 2011 – 11:22 am No Gravatar

By Sherwood Ross – BlacklistedNews.com

“As long as the $1.2-trillion annual budget for the military-security complex is off limits (to cutting), nothing can be done about the US budget deficit except to renege on obligations to the elderly, confiscate private assets or print enough money to inflate away all debts,” Paul Craig Roberts, former Assistant Treasury Secretary under President Reagan warns.

In an article titled “Stealing from Social Security to Pay for Wars and Bailouts,” published in the April issue of the “Rock Creek Free Press” of Washington, D.C., Roberts says that Republicans are calling Social Security and Medicare “entitlements”—making them sound like welfare—when, in fact, workers over their lifetimes have contributed 15 percent of all their earnings to the payroll tax that funds these benefits and have every right to them.

And far from Social Security being in the red, between 1984 and 2009, Roberts writes, “the American people contributed $2-trillion…more to Social Security and Medicare in payroll taxes than was paid out in benefits” but “the government stole” that sum to fund wars and pork-barrel projects!

What’s more, under one realistic estimate, far from crashing into the red, “Social Security(OASDI) will have produced surplus revenues of $31.6-trillion by 2085, Roberts says.

Americans, apparently, are unaware of how the federal government’s illegal, foreign wars sap the economy and rob every household. The Iraq war cost alone is 20 percent of the size of last year’s entire U.S. economy. Instead of investing that sum at home, “which would have produced income and jobs growth and solvency for state and local governments, the US government wasted the equivalent of 20% of the economy in 2010 in blowing up infrastructure and people in foreign lands,” Roberts says.

http://www.blacklistednews.com/U.S._...38/38/Y/M.html
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Old 04-11-2011, 03:59 PM   #2
Amnorix Amnorix is offline
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Presumably you know that Social Security has never had any lockbox account, or has ever guaranteed specific benefits at specific ages. SS taxes go into the general fund, with an IOU being given by the rest of the government to the SSA.

Whether that's a good idea or not is a separate question, of course, but it has NEVER worked the way alot of people think it does, or should.
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Old 04-11-2011, 04:25 PM   #3
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Originally Posted by Amnorix View Post
Presumably you know that Social Security has never had any lockbox account, or has ever guaranteed specific benefits at specific ages. SS taxes go into the general fund, with an IOU being given by the rest of the government to the SSA.

Whether that's a good idea or not is a separate question, of course, but it has NEVER worked the way alot of people think it does, or should.
Which is the plan's biggest flaw.
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Old 04-11-2011, 04:49 PM   #4
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Originally Posted by mlyonsd View Post
Which is the plan's biggest flaw.
IMO, its existence is its biggest flaw.
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Old 04-11-2011, 04:54 PM   #5
mlyonsd mlyonsd is offline
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Originally Posted by ClevelandBronco View Post
IMO, its existence is its biggest flaw.
I won't go that far but maybe if it had been run the way it should have from it's beginning we'd all be looking at it differently.
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Old 04-12-2011, 10:49 AM   #6
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Originally Posted by ClevelandBronco View Post
IMO, its existence is its biggest flaw.
No, it's not.

SS run as a lockbox is the way to go.
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Old 04-12-2011, 03:18 PM   #7
loochy loochy is offline
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No, it's not.

SS run as a lockbox is the way to go.
No, doing away with it is the way to go.
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Old 04-13-2011, 03:13 PM   #8
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