Social Security fact:
the Social Security Administration was established in 1935.
At that time, the age of retirement was set at 65yrs. The average life expectancy in 1935 was about 61 years.
And they never put it back. Congress is full of Thieves and Liars and they could care less about the people they work for. What a horrible country I live in
Yes, Reagan proposed building up the trust fund surplus so that the baby boomers could get paid.
It’s supposed to be paid out to beneficiaries until it’s gone.
Republicans forever wanting our money. American’s should go back to saving their own money for retiring. Repubs are always going to be after our money. Time to sue the government.
Interesting fact: There is a law on the books that whatever they borrow from SSA has to be repaid with interest.
The US government owes $36 trillion: How much of that is to SSA? To us, that we don't know about: where they have taken money out of the SSA fund and put in an IOU?
Entitlement means you are entitled to receive it-- it is your right to receive it. Trying to make that word sound bad is confusing the poorly educated. They're doing it on purpose.
A benefits package in an employment contract is called the entitlements clause, a legal term. Somehow, entitlement became a dirty word. We are entitled to SS because we entered a contract with the US government. I call it an entitlement because that is what it is.
It literally is an entitlement. You earned it and cannot be denied it by contract.
A sense of entitlement is a psychological term meaning someone thinks they are owed something they did not earn.
The Right has mixed the two terms to confuse people. Don’t fall for it!
SSI is ours by entitlement.
Musk, who built his empire off $5 BILLION in govt subsidies thinks YOU don’t deserve government help. His rockets? Paid for by the govt. Starlink deals? Govt-funded. When it’s time to help Americans? Suddenly, we can’t afford it. Fuck this bastard. https://thetonymichaels.substack.com/p/breaking-m...
I think Bush took about $708 Million out of the Social Security Trust Fund, in addition to exploding the National Debt to fund his Military Industrial Complex.
The whole of the Democratic Party should been demanding that money stolen be put back into social security from the first time it was stolen !!! It should have been daily , them demanding it be reimbursed !!!
Dems then are complicit !!!
This is mostly incorrect and lying doesn't help. The trust funds put all excess funds in safe, secure investments - special T-Bills. This happens automatically. When the trust fund needs the money, like now, they cash in the T-Bills. Not a dime had been stolen by any President.
It's the normal course of action. It isn't "Bush borrowing". That's the partisan lie.
All the money is accounted for. The return of the money runs out in a few years. There will either be automatic cuts of about 20% or raised taxes to fund ìt.
Here is a good explanation of how the government has borrowed from Social Security. When they say it will run out of money it won’t. But it is more complicated than simply “stealing”
Comments
the Social Security Administration was established in 1935.
At that time, the age of retirement was set at 65yrs. The average life expectancy in 1935 was about 61 years.
Tax the working class and bow down to the wealthy giving them all of the breaks…
It’s supposed to be paid out to beneficiaries until it’s gone.
The US government owes $36 trillion: How much of that is to SSA? To us, that we don't know about: where they have taken money out of the SSA fund and put in an IOU?
When you pay 30 yrs on a mortgage, receiving the deed is not an entitlement. It's obligated by contract.
A sense of entitlement is a psychological term meaning someone thinks they are owed something they did not earn.
The Right has mixed the two terms to confuse people. Don’t fall for it!
SSI is ours by entitlement.
https://thetonymichaels.substack.com/p/breaking-m...
Biden replaced the money stolen
Dems then are complicit !!!
He borrowed and it’s was never paid back as promised.
It’s been occurring ever since
It gets spent. And is then owed to SS recipients.
Making it....borrowed money.
It's the normal course of action. It isn't "Bush borrowing". That's the partisan lie.
All the money is accounted for. The return of the money runs out in a few years. There will either be automatic cuts of about 20% or raised taxes to fund ìt.
Payback on the T-bills is entirely dependent on the 'full faith and credit' of the US.
The only way out is dollar devaluation via excess money printing.
https://www.verifythis.com/article/news/verify/social-security-verify/how-government-borrows-social-security-trust-funds/536-7f91dc65-145b-4241-a004-510b6b39ba5c