Quote:
Originally Posted by JimJoe
There is not a Dime in reserves.. NOT ONE DIME. They have spent every penny.. to not only pay benefits but also finance the general spending when social security income exceeded expenditures.
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My point that I started this thread with, that SSA is not an entitlement....maybe should have stated that it should not be viewed as an entitlement!
We paid in enough, ourselves and our employers, to have had expectations of fund large enough to pay our SS Monthy benefits til we die with interest alone; thereby leaving the full amount of that pot to be used for all the other real entitlements listed in this thread.
Add to that amount all SS taxes collected for people who died before collecting, there would NEVER be an issue with SS being self sufficient FOREVER.
It is because those in office could not resist getting their hands on this easy money for pork, handouts, and other pet projects; that there are questions on its sustainablility. This dipping began if I remember with LBJ's Great Society initiatives.
Total mismanagement by elected officials of all stripes has gotten us to where we are today.