You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #53: it's not "raiding". by law, all surplus SS collected MUST be borrowed into the general budget [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
Hannah Bell Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-14-10 05:46 AM
Response to Reply #10
53. it's not "raiding". by law, all surplus SS collected MUST be borrowed into the general budget
in exchange for us securities.

that's the LAW, & it's been the law since SS was established.

This kind of misreporting, imo, is done to confuse people.

The crime isn't in borrowing the SS surplus. Intra-account borrowing & repayment is standard & non-problematic, in other government accounts as well as SS -- within reason.

The crime was in jacking up fica high enough to generate a surplus that expanded for 30 years, generating $2.5 trillion in borrowed $ + interest, far beyond the mandated one-year cushion -- & then implicitly claiming the borrowings couldn't be repaid, so even more money must be collected from workers, or benefits cut.

The crime is happening NOW. Contact your congresspeople & tell your friends & family to do the same. It really is grand theft they're trying to get away with, & if they pull it off it will be one of the biggest thefts in the history of the republic.
Printer Friendly | Permalink |  | Top
  -Republicans AND Democrats Lining Up Behind Major Changes To Social Security Bluebear  Jul-12-10 11:25 PM   #0 
  - Goddamn all those people, both parties.  CaliforniaPeggy   Jul-12-10 11:29 PM   #1 
  - Damn the DLCers and all the Repukes. (nt)  w4rma   Jul-13-10 12:26 AM   #7 
  - +1000. Why DLC New Dems are so often given a pass is beyond me  NorthCarolina   Jul-13-10 08:16 AM   #25 
     - Good question . . . let's keep asking it -- !!  defendandprotect   Jul-14-10 03:43 PM   #65 
  - +10000000 0000000000000000 0000000000000000 00000000000  Hannah Bell   Jul-14-10 05:35 AM   #52 
  - I'd be happy to work til I'm 70  JustABozoOnThisBus   Jul-14-10 07:46 AM   #62 
  - 70 graduates for every one opening.... Social Security retirement at 65 was  defendandprotect   Jul-14-10 04:15 PM   #66 
  - +1000  Sherman A1   Jul-14-10 10:47 PM   #70 
  - we are amongst many fools in this country, and they are GOP and too often,  Divine Discontent   Jul-12-10 11:30 PM   #2 
  - The democrats would scream like hell if there wasn't a  Citizen Worker   Jul-13-10 03:04 AM   #13 
     - Exactly.  Spike from MN   Jul-14-10 06:47 AM   #59 
     - Wasn't it more an uprising from public that stopped Bush? But Obama going after it now ...  defendandprotect   Jul-14-10 04:17 PM   #67 
  - Disgusting.  saracat   Jul-12-10 11:31 PM   #3 
  - What ever happened to the idea of congressional term limits?  old mark   Jul-12-10 11:54 PM   #4 
  - Wish I could recommend this  Ishoutandscream2   Jul-12-10 11:58 PM   #5 
  - Just send me a few dollars instead.  old mark   Jul-13-10 12:15 AM   #6 
  - I support that  bluestateguy   Jul-13-10 02:36 AM   #11 
  - We could limit their terms in November of even number years, but  Obamanaut   Jul-13-10 03:12 AM   #14 
  - Didn't have enough votes the last time anyone pushed for it:  Freddie Stubbs   Jul-13-10 07:46 AM   #19 
  - Either that or make them work until aged 70 on minimum wage. nt  TBF   Jul-13-10 09:39 PM   #31 
  - bagging groceries  G_j   Jul-13-10 10:34 PM   #37 
  - I still don't think term limits would help as much as people think...  JHB   Jul-14-10 06:15 AM   #58 
     - Absolutely correct -  TBF   Jul-14-10 09:28 AM   #63 
  - Hey how bout we end these POINTLESS WARS instead?  slay   Jul-13-10 12:38 AM   #8 
  - Not going to happen as long as the Conservatives hold sway over DC  NorthCarolina   Jul-13-10 08:29 AM   #27 
     - It's corporate money that's holding sway . . . and elected officials selling out to them --  defendandprotect   Jul-13-10 10:39 PM   #39 
  - K & R nt  laughingliberal   Jul-13-10 12:39 AM   #9 
  - If our government would stop raiding the Social Security fund ...  spin   Jul-13-10 01:19 AM   #10 
  - Social Security doesn't have a problem . . . it's a success, it's healthy . . . runs Surplusses  defendandprotect   Jul-13-10 10:40 PM   #40 
  - it's not "raiding". by law, all surplus SS collected MUST be borrowed into the general budget  Hannah Bell   Jul-14-10 05:46 AM   #53 
  - I am for one big change  bluestateguy   Jul-13-10 02:38 AM   #12 
  - You would think that a liberal democratic party would demand this a a prerequisite for any cutting  Ganja Ninja   Jul-13-10 07:46 AM   #18 
  - Why can't they just move the cap up a little  ThomThom   Jul-13-10 07:32 AM   #15 
  - They can . . . but notice how many here believe right wing propaganda that Social Security  defendandprotect   Jul-13-10 10:42 PM   #41 
     - So is it propaganda or a real attempt? Your post seems to be playing  ThomThom   Jul-14-10 05:32 AM   #51 
        - It is right wing propaganda . . .  defendandprotect   Jul-14-10 03:42 PM   #64 
  - We really are on our own.....  marmar   Jul-13-10 07:38 AM   #16 
  - You're right. Neither of todays viable political parties represents the interest of the people.  NorthCarolina   Jul-13-10 08:18 AM   #26 
  - Why don't you just take my Social Security and buy Enron stock?  unhappycamper   Jul-13-10 07:40 AM   #17 
  - Why don't they just take my social security  EnviroBat   Jul-13-10 08:04 AM   #24 
  - Right -- remember Bush wanted to move Social Secuirty money to Wall Street . . .!!  defendandprotect   Jul-13-10 10:42 PM   #42 
  - What else did you expect when both partys  conscious evolution   Jul-13-10 07:52 AM   #20 
  - Exactly  riskpeace   Jul-13-10 08:54 AM   #29 
  - Evidently a lot of people here . . .  defendandprotect   Jul-13-10 10:43 PM   #43 
  - Finally! They both found something they can agree on:  donco6   Jul-13-10 08:00 AM   #21 
  - They have pulled a Pearl Harbor on the working class for 30 years  Lost4words   Jul-13-10 08:42 AM   #28 
  - Dupe  donco6   Jul-13-10 08:00 AM   #22 
  - Do they realize the negative impact this will have on the younger workforce?  EnviroBat   Jul-13-10 08:01 AM   #23 
  - There will be a 'divide and conquer' by age strategy  blindpig   Jul-13-10 09:35 AM   #30 
  - Absolutely -  TBF   Jul-13-10 09:45 PM   #32 
  - I will not, can not....  unkachuck   Jul-13-10 09:59 PM   #33 
  - dupe...n/t  unkachuck   Jul-13-10 10:01 PM   #34 
  - We reformed the Democratic Party the Old Fashioned Way.  bvar22   Jul-13-10 10:17 PM   #35 
  - Absolutely . . . .  defendandprotect   Jul-13-10 10:45 PM   #44 
  - That's for damn sure!!!  Raksha   Jul-13-10 11:06 PM   #46 
  - All that needs to be done to lower the deficit is to stop the wars and raise taxes on the wealthy.  county worker   Jul-13-10 10:30 PM   #36 
  - Anyone think that Democrats were going to protect us from anything??? Sen. Whitehouse in 2012????  defendandprotect   Jul-13-10 10:36 PM   #38 
  - We can't let this happen. Time to get all radical on their asses!  EmeraldCityGrl   Jul-13-10 10:57 PM   #45 
  - Well, there goes one Democratic talking point this election.  Kablooie   Jul-13-10 11:24 PM   #47 
  - Well take shit away from the richies who don't need it. Over a certain income.  lonestarnot   Jul-13-10 11:30 PM   #48 
  - Exactly my thoughts.  joe_sixpack   Jul-13-10 11:38 PM   #49 
  - Why should anyone making CEO wage get social security? It is fucking ridiculous. And it appears we  lonestarnot   Jul-13-10 11:42 PM   #50 
  - because they paid in, just like you. better raise their income taxes so they can repay what  Hannah Bell   Jul-14-10 05:47 AM   #54 
     - Are you sure they paid it all in, and I don't give a crap if they did. i'd like to see them lose it  lonestarnot   Jul-14-10 10:39 PM   #68 
        - that's a different issue.  Hannah Bell   Jul-15-10 12:11 AM   #73 
  - There is no reason to take 'shit' away from anyone.  Warren Stupidity   Jul-14-10 07:10 AM   #61 
  - Hmmm...raising the retirement age 20 years out. You know who that affects?  JHB   Jul-14-10 06:07 AM   #55 
  - resentment is what the fuckers do best. no one should imagine for a moment it's not deliberate.  Hannah Bell   Jul-14-10 06:10 AM   #56 
  - The word bipartisan means some larger-than-usual deception is being carried out  Fast Dude   Jul-14-10 06:14 AM   #57 
  - The word bipartisan means some larger-than-usual deception is being carried out  mdmc   Jul-14-10 06:49 AM   #60 
  - Massive cuts in Medicare and Medicaid. Not exactly the healthcare reform we wanted and expected.  Better Believe It   Jul-14-10 10:45 PM   #69 
  - Start with Congress.  alarimer   Jul-14-10 10:47 PM   #71 
  - Why don't we just raise the retirement age to 100?  hatrack   Jul-14-10 10:48 PM   #72 

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC