“Social Security’s coming crash.”
Who wants to get your Social Security back to as good as new?
Well first, let us see just what did happened
to the program,
since President Franklin Roosevelt
introduced it to the country.
The Social Security Act was enacted on August 14, 1935.
How could this happen?
The mechanism, which allowed the government to transfer $2.7 trillion from the Social Security fund to the general fund over a 30-year period, was the brainchild of President Ronald Reagan and his advisers, especially Alan Greenspan.
April 20, 1983, has become a day of shame. The Social Security Amendments of 1983 laid the foundation for 30-years of federal embezzlement of Social Security money in order to use the money to pay for wars, tax cuts and other government programs. The payroll tax hike of 1983 generated a total of $2.7 trillion in surplus Social Security revenue. This surplus revenue was supposed to be saved and invested in marketable U.S. Treasury bonds that would be held in the trust fund until the baby boomers began to retire in about 2010. But not one dime of that money went to Social Security.
George W. Bush
‘borrow’ from Social Security
to fund the war in Iraq and tax cuts?
By law, the Social Security surplus is converted into bonds,
and the cash is used by the Treasury to pay for government expenses.
If we agree that this is “borrowing,”
every president since 1935 has done it,
to fund all sorts of things.
Bush “borrowed” from the surplus, $708 billion, the borrowing wasn’t earmarked for a special purposes and never paid it back,”
politicians and the 10% that pay them to crush your Social Security,
need to pay you back or
As you know, Social Security operates as a classic Ponzi scheme — new contributions are used to pay off earlier contributors.
The problem is twofold: Our government tapped into Social Security savings, and there are not enough new contributors to pay those who already funded the system.
And the problem is worse than any government agency wants to admit.
The End of Social Security (Leaked Evidence Stumps Obama, Stuns Retirees.)
by J.L. Yastine
August 1, 2016