Oct 132020
 

download (1)Who Stole Your Social Security and Why?
Date: Tuesday, 13-Oct-2020

In Response To: Trump: While I Am President, Nobody Will Touch Your Social Security.. Again (RumorMail)

Proof That Obama STOLE Over $1 BILLION From Social Security – You Won’t Believe Who He Gave It To!
by Thomas Robertson 4 years ago

On Friday, the Office of the Inspector General released the results of a recent audit, which showed thousands of cases of benefits being paid to individuals without Social Security numbers. The amount totaled over $1 billion.

To add insult to injury, the report also showed that since 2004, over $800 million went to individuals whose access to benefits were supposed to have been revoked.

Furthermore, We the People will be paying over $180 million per year in benefits. We’ll continue to pay individuals with no Social Security numbers if we don’t take urgent action to correct this problem.

This is Obama’s government, patriots. This is what the Democrat side of the aisle stands for these days.

They’ll cry to the heavens about Barron Trump receiving Secret Service protection that involves taking him to school, because radical liberals are threatening a child and his mother, but they’ll laugh at the fact hundreds of millions of dollars are wasted every day to pay for people that don’t even belong in this country.

It’s bad enough they’re getting our money, but we have proven that, in a significant amount of cases, the money isn’t even being used for the purpose for which it is issued.

Instead of paying to keep their homes heated, people are using the money to buy drugs. Instead of putting food on the table to feed their children, they ship the money over the Mexican border so THEIR country’s laziest people can mooch off of it.
https://en-volve.com/2017/04/07/proof-that-obama-stole-over-1-billion-from-social-security-you-wont-believe-who-he-gave-it-to/


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Social Security is not an abstract concept. It is not a series of numbers on a chart. It is life and death to one out of five senior citizens over 65. For all the retired it represents about 40% of their income and for current, about-to-retire seniors, it may well be more than half their livelihood. It’s not a game. It’s not amusing or irrelevant.

For some people retiring now and in the next few years, Social Security may represent the vast majority of their income. And yet, Social Security, which has been running a surplus…surplus…since 1984 is said to be running out of funds. How is that possible? Someone took the money and spent it. If I come into your house and take your money and spend it, that is called “theft.” I stole your money.

By 1984, the Social Security surplus was already $300 million, up from a minus of about $8 billion in 1982. It then quickly went up to $9.4 billion, $16 billion, $20 billion and in 1988, the year George H.W. Bush was elected, it was $39 billion. Eventually, surpluses would average well over $100 billion a year. So what’s the problem? By 2003, we had already set aside–or so we thought–$1.5 trillion and growing for the security of the system when the Baby Boomers retired and beyond.

Next came Clinton, who tried to do something about the deficits, which is about all that can be said for him. In 1993, he still had a deficit of $300 billion and although they went down every year ($258 b, $226 b, $174 b, $103 b, $30 b, and then went positive…$1.9 b and $87 b, he continued to spend our Social Security. For example, in 1998, when the deficit was $30 billion, the announced government surplus was $69.2 billion. But that was by using $99.2 billion of the Social Security surplus.

Then came George W. Bush, considered by most Americans at this point the worst President in the history of the country. He may not have been the worst President. He may not even have been President. But he looted us as well or better than the rest of them.

In 2001, despite knowing that the surpluses were mostly coming from the increased taxes being paid to insure the solvency of Social Security, Bush announced more tax cuts, this time a reduction in federal revenues of more than $1.25 trillion. To pay for tax cuts, one of the things he did was tap into the Social Security surplus, just like Reagan, Bush, and Clinton.

In 8 years, the Bush Jr. Administration spent every single penny of the Social Security surplus, using it like a piggy bank to give huge tax breaks to individuals and to corporations, to start wars, to give lucrative government contracts…far beyond their value…to friends and associates. During that time, the Bush Administration drained $1.4 trillion dollars, the entire surplus and used it to write down their additional national debt, which turned out to be…without the Social Security funds…a grand total of $3.4 trillion.

In addition, the Bush Administration’s lax and incompetent management of the financial community added another $750 billion in a late 2008 bailout to keep the financial community from completely dissolving. To keep the recession that came as a result of the partial collapse of the financial and housing markets from becoming a huge depression, has added $1.2 trillion more. So the funds from personal tax deductions paid by workers–the amount of money we call Social Security–has been completely looted.  And, by the way, we currently have additional debt from the last 8 years of $5.3 trillion dollars.

So does it mean that we have no money to pay Social Security benefits? No it does not. It means that we must either find a way to repay the “trust fund” and restore the amounts that will be needed or we must reduce benefits. Economists differ as to when the real crunch will come but most think that it will be sometime around the middle of the century, perhaps as soon as 2040. At that point, as far as we know today, we would be able to pay only about 75% of anticipated benefits. Some economists recommend we have a “means test” solution in which those who do not need Social Security will not receive it, even though they have paid in all their lives, and those who need Social Security will receive it according to their needs but with some caps on benefits as we have them today.

But no one really knows what will happen. Who knew that a succession of Presidents of both parties would forfeit the trust and faith of the American People for political gain?  Simply to make a budget deficit seem smaller in order to win an election, these cruel and cynical politicians spent the retirement savings of the elderly as surely as if Bernie Madoff had conned them into one of his schemes. Bernie Madoff is going to jail. What should we do with these equally guilty tin-horn, felonious politicians?

 

 

 

 

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