Friday, July 29, 2011

Why Social Security is NOT an entitlement

I hear Social Security called an entitlement, and I get VERY angry... here's why

Social security is NOT an entitlement.... we've been paying into it for our whole working lives, it's the big hit after taxes called FICA. It's got a HUGE surplus, which won't run out for more than 20 years.

However... they've been "borrowing" this surplus by "investing" it in government bonds... to keep the cash flow going, since the 1960s... only now that it's about time to start pulling out of the "surplus" do they want to cut it as an "entitlement"...

In other words, we paid money in... they were supposed to set it aside for us, and now they don't want to admit that they've already STOLEN it, and it won't be there when we need it.

All of the spending to bail out banks, corporations, etc... was all out of our retirement funds... don't forget it.