The Social Security Fund, I thought was like money in a Government Bank. Not in a lock box but a fund managed and invested in safe securities drawing interest for us (you & me).
Of course you and I contributed to Social Security but hey, your employer did, too. It totaled 15% of your income before taxes. Read that again. Did you see where the Government paid in one single penny?
We are talking about the money you and your employer put in a Government bank to insure you and I that we would have a retirement check from the money we put in, not the Government.
Now they are calling the money we put in an entitlement when we reach the age to actually enjoy the return on our investment.
What about the folks who contributed all their lives and died at age 40-60? their money when where?
They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives, and now, when it's time for us to collect, the government is running out of money.
Why did the government borrow from it in the first place? It was supposed to be safely in a fund drawing interest, not part of the general fund.
Entitlement my foot, you paid cash for your social security insurance!
Just because they "borrowed the money for other government spending" (raided the Social Security fund), doesn't make our benefits some kind of charity or handout!!
The SS Administration oversees the largest part of the National Budget, 37%. 65,000 workers administer this program for US.
Wow, so 65000 folks are paid to take care of us. Along the way, some folks drew from SS that did not pay into it. Of course decided by OUR representatives (for votes, in my opinion).
Sherry and I are fortunate, we would live without SS, not as well, but we could make it. many seniors cannot, they depend on SS, they paid into it, and should benefit.
I said earlier,when I hear the SS will be out of money in 2025 (or some year in the future) I wonder then about foreign aid, will it ever run out of money. What has Egypt, Spain or India done for us? Funny (not haha) that many countries we GIVE money to actually dislike the USA.
But Hey, let’s keep the money flowing that direction, and politically scare the old folk concerning SS.
Just thinking out loud with my fingers again. Thanks for coming by the log.
Of course our representatives will find some money to keep the SS going, I have no doubt, but at what cost to our kids again. Will we eventually REALLY default?
(Sorry, this was supposed to be positive!)
I thought I would put a new car on!(smile)
1982 Chrysler Fifth Avenue