Liars in Congress for Social Security
(twitter.com)
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Well on this one, the Turtle was right and the Gipper was wrong.
There is no REAL social security "trust fund."
Sure, they CALL it that, but it is a lie.
They simply take the money from FICA taxes, move it from that accounting ledger over to the regular budget ledger, and put a bunch of IOU's into the social security "trust fund" which are called "non-marketable securities."
This is how Clinton and Gingrich conspired to lie about a "budget surplus" in the 1990's. There was never any real surplus. There was a TEMPORARY increase in FICA revenues above the payouts, and it was used to paper over the total budget deficit. But the total borrowing of the federal government went UP not down, which would have happened if there had been a real surplus.
They all lie, except here the Turtle got one right. (A blind squirrel finds an acorn every now and then.)
These "entitlements" combined with massive debt and higher interest rates WILL destroy the economy at some point, if they don't change course.