fund that is supposed to help our children provide for baby boomers as they retire. The Reagan administration raised payroll (or Social Security) taxes to adequately fund that trust fund to provide for my war generation as well as the baby boomers.
Under the statute, the Secretary of the Treasury is in charge of handling that trust fund. The US government, of course, owes money to that trust fund because the trust fund money is in whole or part invested in the Treasury notes.
The Bush administration noted that the Clinton administration had balanced the annual budget and that the Clinton policies might lead to a very low or no deficit after a time.
Republicans like to complain about deficits when Democrats are in the White House, but Republicans like to increase deficits when they themselves are in the White House. This is a pattern that you can see on charts.
So, Bush started the completely unnecessary, cruel War in Iraq, killed a lot of our soldiers as well as Iraqis AND spent a lot of money on war material WITHOUT RAISING TAXES.
In other words, Bush fought his stupid war on borrowed money -- much of it our Social Security trust fund money, I presume.
Republicans hate Social Security. That is why they stole the money from the government, handed it to their friends like Halliburton and the erstwhile Blackwater, etc. That was in part, our Social Security money they gave their friends.
We seniors are entitled to be repaid that money. Many of us have no other or very little other source of income especially now that interest rates are virtually imperceptible on savings accounts and other investment vehicles safe for seniors.
Sorry, but Social Security is our right. We paid for it. We saved the money above and beyond what it cost for us to care for our parents and grandparents.
The rich got tax cuts. We got Social Security cuts. That cannot stand.
The rich need to pay back what they owe seniors.
And if you are younger and you think it should not be paid back, then I hope that, if your parents are still alive, neither they nor you get Alzheimers or some form of dementia or become helpless in their old age.
Without generous Social Security, Medicare and Medicaid benefits, nursing homes are not going to be able to take care of you or your parents unless you or your parents have a lot of money.
That means that our, your parents either suffer alone as we and they age or children stay home to provide the 24-hour a day care for their parents that very elderly, very sick people need.
Social Security is a necessity. We paid for it. We paid extra to cover our own retirement beyond that of our parents and grandparents. We are entitled to our Social Security benefits. So are you.
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