For 25 years the politicians have used "our" Social Security money to finance government. This year, or next, it will start paying out more money than it takes in.
The PONZI jig may be up!!!
There is NO MONEY in the Social Security Trust Fund! It has all been spent!
ALL THE MONEY IS GONE.
ALL the money we paid into Social Security in the 1980's, 1990's, and until now isn't there anymore. The government spent it.
- There are only stacks of IOU's from the government to itself in the Soc. Sec. Trust Fund. No cash. No money. No kidding.
Try buying anything with THOSE why don't you?
- Well, those California IOU's went over so well, why not?
Thanks to the collective economic genius of Congress, we are hosed. Wonderful.
Monday, 17 August 2009
ALL the money is GONE?............from Rico
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2 comments:
Miguided. Every penny the government takes in must be instantly returned to the economy, lest the money supply fall.
What must happen does in fact happen.
Future services and goods will be supplied by future workers; these can't be saved today.
Saving for the whole doesn't not work like it does for individuals.
Somebody has to spend every penny saved, as a nation.
The Congress has been using the social security trust fund to get themselves re-elected almost from the beginning. The money was simply placed in the general fund (accounting wise) and spent for whatever program the congress could dream up. The social security trust fund got an IOU which is effectively what a government bond is. The congress has reached the limit of how much they can raise our taxes without us screaming bloody murder. That's why the congress has been looking for anything and everything to tax and trying to make it seem that the tax won't apply to us. ("95% won't see a tax increase"- Barrack Obama) Health care will allow the government to add more taxes to every aspect of our lives and justify them as related to health care. This would continue to allow the congress the get themselves re-elected with our own money. The congress REFUSES to cut spending and unless we stop congress, we are heading for ultimate disaster.
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