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12 thoughts on “Deficit in Social Security Escalates

  1. Johnson should never have transferred SS to the general fund and Congress should definitely called him on it and not let it happen. He was a "wheeler-dealer", however, and could "twist" arms like no other president until the present.

    • Wapitiman says:

      Congress 'calling Johnson on it'? Congress is the biggest den of incompetents and thieves we can lay claim to ! Their own pension fund is 100% funded! No way are they going to take their money and 'lend' it to the government in return for worthless IOUs! Oh! Excuse me…they are backed up by the full faith and integrity of our government !

      Social security is also LOADED with deadbeats who do not meet eligibility requirements. No one polices it and no one represents the hard workers who contributed (with their employers) over their working careers. Now it's sneeringly called an 'entitlement' !

  2. [...] Security has not contributed one nickel to the deficit because it is funded by the payroll tax.”READ MOREThe media are slowly beginning to admit that Social Security is running a deficit. I first announced [...]

  3. Maybe if they would put back the 700B they sent to foreign countries there wouldn't be a deficit.

  4. OldTimeRepub says:

    This article is completely bogus, especially the headline. It's sole purpose is to get you to think the deficit is caused by Social Security. In fact, Social Security has brought down the deficit by putting its surplus into the general fund. Like other bloggers here, that is the problem. Social Security should have never been put into the general fund and used to fund wars, etc. Income taxes should have been used for those expenses, but everyone has been too cheap to pay their fair share and are now blaming SS.

  5. mrsgunnut10 says:

    Social Security is going broke even faster now. Did you read the Article last week that told about the Obama Administration "Borrowing" another $ 25 Million Dollars. It seems that Grand Parents of past College Graduates have Co-Signed for their Loans and are now facing the inability of having to pay off those Loans with their own retirement funds. Great isn't it, when Obama can just grab a handful of dollars from here and put it there, anytime he so desires. Maybe if the Obama Administration would take Billions of dollars from Obama's slush fund and pay back the Social Security IOU's, our Social Security System would'nt be broke. By the way, I would like to find out how much of these College Loans are actually funds that were spent on Binge/Beach Partys, instead of for Education. Thank you for your time. TSgt., USAF Retired

    • Libby Eddins says:

      Even if what you say is true, it does not change the fact that SS is not solvent today and it needs to be fixed. The demographics add to the problem and the only thing that can be done is to change the funding formulas and the payment formula so it will be there for future generations. It is a crime to promise people that there will be some security in retirement when there will be very little. Decisions are made based on those promises that can put people in jeopardy. “Fair shar” seems to be a arbitrarily set standard set bythose who think they know best rather than a widely accepted contribution that we all agree is fair.

      • I hope that there will be a check list ordered soon, of all the Social Security benefit receivers, in order to see how many actually belong on the list? There is fraud everywhere in the USA, and the present administration wants to care for everyone illegal or illegal. There have been reports of many young people who can't find jobs ,who are advised to go on medical disability and many do. It give credibility to the lies that jobless numbers are shrinking, sure they are because they have been shifted to another entitlement. . We know that there are also vendors using Medicare as a income booster, watch the TV ads for the power chairs that are advertised free of charge. TV ads cost a fortune and the charlatans count on recouping the cost from the Government– sorry that should have read from the US taxpayers.

  6. [...] Tea Party Economist Be Sociable, Share! Tweet by chowwg Posted on August 14, 2012 This entry was posted [...]

  7. bill sanders says:

    One of the main reasons is that they (obama) have been giving s.s. to illegal people who have never paid one penny into it.Its way past time that we remove all of these illegals and there offspring from the USA.

  8. If a private firm ran a program like Social Security the way LBJ and the Democrats reorganized it to work, they'd get a free all bills paid stay in Leavenworth.

  9. [...] Continue Reading  This entry was posted in Politics by GaryWold. Bookmark the permalink. [...]

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