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Reply #76: One IMPORTANT thing, the money you speak about is not there --- Already spent by our government(s) [View All]

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Change Happens Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 09:58 AM
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76. One IMPORTANT thing, the money you speak about is not there --- Already spent by our government(s)
You write:

************Here is what the media don't tell you: Social Security has accumulated a massive surplus$2.5 trillion now, rising to $4.3 trillion by 2023. This vast wealth was collected over many years from workers under the Federal Insurance Contributions Act (FICA) to pay in advance for baby boom retirements. The money will cover all benefits until the 2040sunless Congress double-crosses workers by changing the rules. This nest egg does not belong to the government; it belongs to the people who paid for it. FICA is not a tax but involuntary savings.*****************

This money is not really there because as we all know, the money in the locked boxes has been spent over and over since early 1980s...

Social Security is indeed one of the top three major government liabilities: Defense, SS, and Medicare/Medicaid.

Fact: People are now living longer and longer, SS cost more and more...We need a fix fir this.

Important to note however, we need to cut defense first, then we need to work on Medicare/Medicaid, SS is not really bad compared to these two items.
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