Bay News 9 Fibs, Says Social Security Is Not A Ponzi Scheme

[Siete]

SS will remain the same until 2035, after that SS will pay for 75% of its debt ..

by 2035 boomers will be toast and the fund will be relieved of its obligation .. Millenials should be just fine

 

[bendog]

[

There aren't enough Millenials to sustain the system. The Baby Boomers will dry it up and there will be nothing left for the rest of us who have had to pay for their retirement our whole lives.[/QUOTE]
You don't understand the tax system. We should not have cut taxes, and paying off us boomers will be a problem. But the soc sec system will return to surplus once we're dead. The millinials then, hopefully, will have the foresight to use their surplus to transition to a pay as you go system, with the funds being placed in govt operated broad based index funds, similar to how annuities are financed.

 

[Siete]

Question, how is the Federal government going to pay us back the $2 trillion dollars they borrowed from our SS contributions?

1. Increase taxes? Loan me a dollar, now give me another dollar...say here's that dollar I owed you.
2. Increase the age limit and hope people die before they collect a cent of the benefits they paid for?
3. Means testing to cheat people who were forced to pay in out of any benefits?
4. All of the above?

several ways to be exact, but I like this one ...

Increase worker and employer contributions. Workers and their employers currently pay 6.2 percent of earnings up to $106,800 into the Social Security system, or a maximum of $6,622 each per year. Self-employed workers are required to pay 12.4 percent of pay up to the same cap. If the contribution rate were increased by 1.1 percent to 7.3 percent of earnings, Social Security’s projected deficit would be eliminated.

ELIMINATED !

Using this fix, a worker making $43,451 in 2010 would face a tax increase of $478 a year, or $9.19 a week, and the employer would face an identical increase.

contribute 9 bucks a week and the SS problem is solved, ELIMINATED !

 

[BluesLegend]

Question, how is the Federal government going to pay us back the $2 trillion dollars they borrowed from our SS contributions?

1. Increase taxes? Loan me a dollar, now give me another dollar...say here's that dollar I owed you.
2. Increase the age limit and hope people die before they collect a cent of the benefits they paid for?
3. Means testing to cheat people who were forced to pay in out of any benefits?
4. All of the above?

several ways to be exact, but I like this one ...

Increase worker and employer contributions. Workers and their employers currently pay 6.2 percent of earnings up to $106,800 into the Social Security system, or a maximum of $6,622 each per year. Self-employed workers are required to pay 12.4 percent of pay up to the same cap. If the contribution rate were increased by 1.1 percent to 7.3 percent of earnings, Social Security’s projected deficit would be eliminated.

ELIMINATED !

Using this fix, a worker making $43,451 in 2010 would face a tax increase of $478 a year, or $9.19 a week, and the employer would face an identical increase.

contribute 9 bucks a week and the SS problem is solved, ELIMINATED !

LOL you fell for that hook line and sinker, its entirely possible you are a liberal.

 

[Discombobulated]

It's not a ponzi scheme. No, you can't get your mits on it.

There wouldn't be any problem at all if our elected representatives hadn't spent decades robbing the Social Security trust fund to pay for other stuff.

 

[bendog]

It's not a ponzi scheme. No, you can't get your mits on it.

There wouldn't be any problem at all if our elected representatives hadn't spent decades robbing the Social Security trust fund to pay for other stuff.

There never was a lock box or trust fund. There was no possible way of taking all those dollars and locking them up somewhere.

 

[Siete]

It's not a ponzi scheme. No, you can't get your mits on it.

There wouldn't be any problem at all if our elected representatives hadn't spent decades robbing the Social Security trust fund to pay for other stuff.

There never was a lock box or trust fund. There was no possible way of taking all those dollars and locking them up somewhere.

Ft Knox can't possibly hold all that gold either


dollars?

LMAO

 

[Discombobulated]

It's not a ponzi scheme. No, you can't get your mits on it.

There wouldn't be any problem at all if our elected representatives hadn't spent decades robbing the Social Security trust fund to pay for other stuff.

There never was a lock box or trust fund. There was no possible way of taking all those dollars and locking them up somewhere.

You are incorrect.
Social Security Trust Fund - Wikipedia the free encyclopedia

 

[johnwk]

It's not a ponzi scheme. No, you can't get your mits on it.

There wouldn't be any problem at all if our elected representatives hadn't spent decades robbing the Social Security trust fund to pay for other stuff.

The whole idea of the SS Trust Fund was to really create a "slush fund" for corrupt politicians to rob.


JWK



"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

 

[Discombobulated]

It's not a ponzi scheme. No, you can't get your mits on it.

There wouldn't be any problem at all if our elected representatives hadn't spent decades robbing the Social Security trust fund to pay for other stuff.

The whole idea of the SS Trust Fund was to really create a "slush fund" for corrupt politicians to rob.


JWK



"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

Where do you people get these stupid fucking ideas?

 

[peach174]

SS isn't mandatory either.

Oh Yes it is.

Is Social Security Voluntary or Mandatory eHow
Another myth is that the Social Security act allows individuals to opt out of the Social Security system and get a refund of the Social Security taxes they paid.. This is false. There is no lawful way for people to quit the Social Security program.

 

[peach174]

It's not a ponzi scheme. No, you can't get your mits on it.

There wouldn't be any problem at all if our elected representatives hadn't spent decades robbing the Social Security trust fund to pay for other stuff.

The whole idea of the SS Trust Fund was to really create a "slush fund" for corrupt politicians to rob.


JWK



"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

Where do you people get these stupid fucking ideas?

It is not stupid ideas it is a fact.
LBJ was running an expensive war in South East Asia while also attempting to launch social engineering through programs which began with his 'Great Society'. Lacking the means to pay for both, he had the Social Security Trust Funds moved into the general fund. As these funds were removed they were replaced with an IOU and it continues to this very day.

 

[johnwk]

It's not a ponzi scheme. No, you can't get your mits on it.

There wouldn't be any problem at all if our elected representatives hadn't spent decades robbing the Social Security trust fund to pay for other stuff.

The whole idea of the SS Trust Fund was to really create a "slush fund" for corrupt politicians to rob.


JWK



"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

Where do you people get these stupid fucking ideas?

It is not stupid ideas it is a fact.
LBJ was running an expensive war in South East Asia while also attempting to launch social engineering through programs which began with his 'Great Society'. Lacking the means to pay for both, he had the Social Security Trust Funds moved into the general fund. As these funds were removed they were replaced with an IOU and it continues to this very day.

LBJ was so crooked they had to screw him into the ground when he was buried.


JWK




"To lay with one hand the power of the government on the property of the citizen [a working person’s earned wage] and with the other to bestow upon favored individuals, to aid private enterprises and build up private fortunes [Obama’s Solyndra, Chevy Volt, Fisker, Exelonswindling deals] is none the less a robbery because it is done under forms of law and called taxation."____ Savings and Loan Assc. v. Topeka,(1875).

 

[Disir]

It's not a ponzi scheme. No, you can't get your mits on it.

There wouldn't be any problem at all if our elected representatives hadn't spent decades robbing the Social Security trust fund to pay for other stuff.

The whole idea of the SS Trust Fund was to really create a "slush fund" for corrupt politicians to rob.


JWK



"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

Where do you people get these stupid fucking ideas?

It is not stupid ideas it is a fact.
LBJ was running an expensive war in South East Asia while also attempting to launch social engineering through programs which began with his 'Great Society'. Lacking the means to pay for both, he had the Social Security Trust Funds moved into the general fund. As these funds were removed they were replaced with an IOU and it continues to this very day.

Q1. Which political party took Social Security from the independent trust fund and put it into the general fund so that Congress could spend it?

A1: There has never been any change in the way the Social Security program is financed or the way that Social Security payroll taxes are used by the federal government. The Social Security Trust Fund was created in 1939 as part of the Amendments enacted in that year. From its inception, the Trust Fund has always worked the same way. The Social Security Trust Fund has never been "put into the general fund of the government."
Most likely this question comes from a confusion between the financing of the Social Security program and the way the Social Security Trust Fund is treated in federal budget accounting. Starting in 1969 (due to action by the Johnson Administration in 1968) the transactions to the Trust Fund were included in what is known as the "unified budget." This means that every function of the federal government is included in a single budget. This is sometimes described by saying that the Social Security Trust Funds are "on-budget." This budget treatment of the Social Security Trust Fund continued until 1990 when the Trust Funds were again taken "off-budget." This means only that they are shown as a separate account in the federal budget. But whether the Trust Funds are "on-budget" or "off-budget" is primarily a question of accounting practices--it has no effect on the actual operations of the Trust Fund itself.
Social Security History

 

[peach174]

It's not a ponzi scheme. No, you can't get your mits on it.

There wouldn't be any problem at all if our elected representatives hadn't spent decades robbing the Social Security trust fund to pay for other stuff.

The whole idea of the SS Trust Fund was to really create a "slush fund" for corrupt politicians to rob.


JWK



"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

Where do you people get these stupid fucking ideas?

It is not stupid ideas it is a fact.
LBJ was running an expensive war in South East Asia while also attempting to launch social engineering through programs which began with his 'Great Society'. Lacking the means to pay for both, he had the Social Security Trust Funds moved into the general fund. As these funds were removed they were replaced with an IOU and it continues to this very day.

Q1. Which political party took Social Security from the independent trust fund and put it into the general fund so that Congress could spend it?

A1: There has never been any change in the way the Social Security program is financed or the way that Social Security payroll taxes are used by the federal government. The Social Security Trust Fund was created in 1939 as part of the Amendments enacted in that year. From its inception, the Trust Fund has always worked the same way. The Social Security Trust Fund has never been "put into the general fund of the government."
Most likely this question comes from a confusion between the financing of the Social Security program and the way the Social Security Trust Fund is treated in federal budget accounting. Starting in 1969 (due to action by the Johnson Administration in 1968) the transactions to the Trust Fund were included in what is known as the "unified budget." This means that every function of the federal government is included in a single budget. This is sometimes described by saying that the Social Security Trust Funds are "on-budget." This budget treatment of the Social Security Trust Fund continued until 1990 when the Trust Funds were again taken "off-budget." This means only that they are shown as a separate account in the federal budget. But whether the Trust Funds are "on-budget" or "off-budget" is primarily a question of accounting practices--it has no effect on the actual operations of the Trust Fund itself.
Social Security History

The "unified budget." This means that every function of the federal government is included in a single budget.
That means they used the Social Security funds for other government programs and it included the funding for the Viet Nam War. After the war it was continually used for other government programs. Before that, the SSI funds was not included a unified budget and congress was not able to use the funds for anything other than just the Social Security program.


During the past 25 years, five presidents, from President Johnson to President Obama and the members of Congress, have participated in the great Social Security scam. All Social Security contributions made by working Americans, except the amount which was needed to pay current retirement benefits, has been funneled into the general fund and used for non-Social Security purposes.
Some like to say that the government just “borrowed” the money during the time period when it was not needed to pay benefits. But borrowing implies repayment, and no provisions for repayment have been made.
The government did not enact future tax increases that would automatically kick in when the Social Security money was needed. Neither did they enact legislation that would end other spending programs once the Social Security money was needed so the money could be transferred to the trust fund.
The government spent the Social Security money, pure and simple, without making any provisions for future repayments. The IOUs in the trust fund are not marketable, and they could not be sold to anyone even for a penny on the dollar.
The Social Security trustees confirmed the worthlessness of the IOUs in the 2009 Social Security Trustees Report with the following words:
“Neither the redemption of trust fund bonds, nor interest paid on those bonds, provides any new net income to the Treasury, which must finance redemptions and interest payments through some combination of increased taxation, reductions in other government spending, or additional borrowing from the public.”
In order for Social Security to pay full benefits after 2016, it will be necessary for the government to begin repaying the money it has spent on other things. This will mean increased taxes and/or additional borrowing.
Neither of these is politically popular, and there is no assurance that future politicians will be willing to raise taxes to pay for the irresponsible behavior of past politicians. If the money is not repaid in full, with interest, it will have been stolen by the government from working Americans who paid into the fund.

Read it for yourself in the report
Table of Contents

Since Social Security would be fully funded until at least 2037 if the government had not used the money for other things, the only reason that politicians are advocating cuts in Social Security benefits is the fact that the government does not have the money with which to pay its debt to Social Security.
Given the fact that Section 13301 of the Budget Enforcement Act of 1990 made it a violation of federal law to use Social Security revenue for non-Social Security purposes, it is hard to justify using the word “borrow” to refer to any of the Social Security money spent after 1990, even if it is eventually paid back.
It was stolen from the American workers pure and simple by a political accounting tactic.

 

[Disir]

There wouldn't be any problem at all if our elected representatives hadn't spent decades robbing the Social Security trust fund to pay for other stuff.

The whole idea of the SS Trust Fund was to really create a "slush fund" for corrupt politicians to rob.


JWK



"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

Where do you people get these stupid fucking ideas?

It is not stupid ideas it is a fact.
LBJ was running an expensive war in South East Asia while also attempting to launch social engineering through programs which began with his 'Great Society'. Lacking the means to pay for both, he had the Social Security Trust Funds moved into the general fund. As these funds were removed they were replaced with an IOU and it continues to this very day.

Q1. Which political party took Social Security from the independent trust fund and put it into the general fund so that Congress could spend it?

A1: There has never been any change in the way the Social Security program is financed or the way that Social Security payroll taxes are used by the federal government. The Social Security Trust Fund was created in 1939 as part of the Amendments enacted in that year. From its inception, the Trust Fund has always worked the same way. The Social Security Trust Fund has never been "put into the general fund of the government."
Most likely this question comes from a confusion between the financing of the Social Security program and the way the Social Security Trust Fund is treated in federal budget accounting. Starting in 1969 (due to action by the Johnson Administration in 1968) the transactions to the Trust Fund were included in what is known as the "unified budget." This means that every function of the federal government is included in a single budget. This is sometimes described by saying that the Social Security Trust Funds are "on-budget." This budget treatment of the Social Security Trust Fund continued until 1990 when the Trust Funds were again taken "off-budget." This means only that they are shown as a separate account in the federal budget. But whether the Trust Funds are "on-budget" or "off-budget" is primarily a question of accounting practices--it has no effect on the actual operations of the Trust Fund itself.
Social Security History

The "unified budget." This means that every function of the federal government is included in a single budget.
That means they used the Social Security funds for other government programs and it included the funding for the Viet Nam War. After the war it was continually used for other government programs. Before that, the SSI funds was not included a unified budget and congress was not able to use the funds for anything other than just the Social Security program.


During the past 25 years, five presidents, from President Johnson to President Obama and the members of Congress, have participated in the great Social Security scam. All Social Security contributions made by working Americans, except the amount which was needed to pay current retirement benefits, has been funneled into the general fund and used for non-Social Security purposes.
Some like to say that the government just “borrowed” the money during the time period when it was not needed to pay benefits. But borrowing implies repayment, and no provisions for repayment have been made.
The government did not enact future tax increases that would automatically kick in when the Social Security money was needed. Neither did they enact legislation that would end other spending programs once the Social Security money was needed so the money could be transferred to the trust fund.
The government spent the Social Security money, pure and simple, without making any provisions for future repayments. The IOUs in the trust fund are not marketable, and they could not be sold to anyone even for a penny on the dollar.
The Social Security trustees confirmed the worthlessness of the IOUs in the 2009 Social Security Trustees Report with the following words:
“Neither the redemption of trust fund bonds, nor interest paid on those bonds, provides any new net income to the Treasury, which must finance redemptions and interest payments through some combination of increased taxation, reductions in other government spending, or additional borrowing from the public.”
In order for Social Security to pay full benefits after 2016, it will be necessary for the government to begin repaying the money it has spent on other things. This will mean increased taxes and/or additional borrowing.
Neither of these is politically popular, and there is no assurance that future politicians will be willing to raise taxes to pay for the irresponsible behavior of past politicians. If the money is not repaid in full, with interest, it will have been stolen by the government from working Americans who paid into the fund.

Read it for yourself in the report
Table of Contents

Since Social Security would be fully funded until at least 2037 if the government had not used the money for other things, the only reason that politicians are advocating cuts in Social Security benefits is the fact that the government does not have the money with which to pay its debt to Social Security.
Given the fact that Section 13301 of the Budget Enforcement Act of 1990 made it a violation of federal law to use Social Security revenue for non-Social Security purposes, it is hard to justify using the word “borrow” to refer to any of the Social Security money spent after 1990, even if it is eventually paid back.
It was stolen from the American workers pure and simple by a political accounting tactic.

I don't think that you understand. The money didn't actually move from the trust fund into the general fund in the way that you think.

Two: Here is your confusion=
In the early 1980s the Social Security Trust Funds had developed short-term cash flow problems, as a result of the adverse performance of the economy during the "stagflation" of the 1970s. As a stop-gap measure, Congress passed legislation in 1981 to permit inter-fund borrowing among the three Trust Funds (the Old-Age and Survivors Trust Fund; the Disability Trust Fund; and the Medicare Trust Fund). This authority was to lapse at the end of 1982. However, the 1983 Amendments extended the inter-fund borrowing authority to the end of 1987. Under the law as amended, all loans would have to be repaid by the end of 1989.

The inter-fund loans were required to be repaid with an amount of interest equal to that which the loaning fund would have earned had it had use of the money during this time. In other words, the borrowing fund was required to make the loaning fund whole at the end of the process.

This authority was used twice, once in November 1982 and once in December 1982. The total amount borrowed was $17.5 billion. The Old-Age and Survivors Trust Fund borrowed the money-$5.1 billion from the Disability Trust Fund and $12.4 billion from the Medicare Trust Fund. Repayment began in 1985 and the debt to the Medicare Trust Fund was paid off by January 1986 and the debt to the Disability Trust Fund was liquidated in April 1986.
http://www.ssa.gov/policy/docs/ssb/v46n9/v46n9p13.pdf

This is from 1983-Note that there are four funds listed here and why,
http://www.ssa.gov/policy/docs/ssb/v46n9/v46n9p13.pdf

Ok?
OK.

Payroll taxes include the Social Security tax and the Medicare tax. Social Security taxes provide benefits for retired workers, the disabled, and the dependents of both. The Medicare tax is used to provide medical benefits for certain individuals when they reach age 65. Workers, retired workers, and the spouses of both are eligible to receive Medicare benefits upon reaching age 65. Federal income taxes are used to provide for national programs such as national defense; veterans and foreign affairs; social programs; physical, human, and community development; law enforcement; and interest on the national debt.
Understanding Taxes - Module 1 Payroll Taxes and Federal Income Tax Withholding

Since the beginning of the Social Security program, all securities held by the trust funds have been issued by the Federal Government.
There are two general types of such securities:

1. special issues—securities available only to the trust funds; and
2. public issues—securities available to the public (marketable securities).

Today all securities held by the trust funds are special issues, but the funds have held public issues in the past.
Special issue types and properties
There are two types of special issues: short-term certificates of indebtedness and long-term bonds.

• The certificates of indebtedness are issued on a daily basis for the investment of receipts not required to meet current expenditures, and they mature on the next June 30 following the date of issue.
• Special-issue bonds are normally acquired only when special issues of either type mature on June 30. The bonds have maturities ranging from one to fifteen years.

The above properties of special issue securities are summarized in the following table.

Type of special issue	Investment frequency	Maturity
Certificates of indebtedness	Daily	Next June 30
Bonds	June 30	1 to 15 years

[TBODY] [/TBODY]

Special issue redemption rules
When special issues need to be redeemed prior to maturity, the securities are redeemed in order of

1. Earliest maturity date;
2. Lowest interest rate for securities with the same maturity date.

Special-issue securities Social Security trust funds

 

[bripat9643]

The whole idea of the SS Trust Fund was to really create a "slush fund" for corrupt politicians to rob.


JWK



"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

Where do you people get these stupid fucking ideas?

It is not stupid ideas it is a fact.
LBJ was running an expensive war in South East Asia while also attempting to launch social engineering through programs which began with his 'Great Society'. Lacking the means to pay for both, he had the Social Security Trust Funds moved into the general fund. As these funds were removed they were replaced with an IOU and it continues to this very day.

Q1. Which political party took Social Security from the independent trust fund and put it into the general fund so that Congress could spend it?

A1: There has never been any change in the way the Social Security program is financed or the way that Social Security payroll taxes are used by the federal government. The Social Security Trust Fund was created in 1939 as part of the Amendments enacted in that year. From its inception, the Trust Fund has always worked the same way. The Social Security Trust Fund has never been "put into the general fund of the government."
Most likely this question comes from a confusion between the financing of the Social Security program and the way the Social Security Trust Fund is treated in federal budget accounting. Starting in 1969 (due to action by the Johnson Administration in 1968) the transactions to the Trust Fund were included in what is known as the "unified budget." This means that every function of the federal government is included in a single budget. This is sometimes described by saying that the Social Security Trust Funds are "on-budget." This budget treatment of the Social Security Trust Fund continued until 1990 when the Trust Funds were again taken "off-budget." This means only that they are shown as a separate account in the federal budget. But whether the Trust Funds are "on-budget" or "off-budget" is primarily a question of accounting practices--it has no effect on the actual operations of the Trust Fund itself.
Social Security History

The "unified budget." This means that every function of the federal government is included in a single budget.
That means they used the Social Security funds for other government programs and it included the funding for the Viet Nam War. After the war it was continually used for other government programs. Before that, the SSI funds was not included a unified budget and congress was not able to use the funds for anything other than just the Social Security program.


During the past 25 years, five presidents, from President Johnson to President Obama and the members of Congress, have participated in the great Social Security scam. All Social Security contributions made by working Americans, except the amount which was needed to pay current retirement benefits, has been funneled into the general fund and used for non-Social Security purposes.
Some like to say that the government just “borrowed” the money during the time period when it was not needed to pay benefits. But borrowing implies repayment, and no provisions for repayment have been made.
The government did not enact future tax increases that would automatically kick in when the Social Security money was needed. Neither did they enact legislation that would end other spending programs once the Social Security money was needed so the money could be transferred to the trust fund.
The government spent the Social Security money, pure and simple, without making any provisions for future repayments. The IOUs in the trust fund are not marketable, and they could not be sold to anyone even for a penny on the dollar.
The Social Security trustees confirmed the worthlessness of the IOUs in the 2009 Social Security Trustees Report with the following words:
“Neither the redemption of trust fund bonds, nor interest paid on those bonds, provides any new net income to the Treasury, which must finance redemptions and interest payments through some combination of increased taxation, reductions in other government spending, or additional borrowing from the public.”
In order for Social Security to pay full benefits after 2016, it will be necessary for the government to begin repaying the money it has spent on other things. This will mean increased taxes and/or additional borrowing.
Neither of these is politically popular, and there is no assurance that future politicians will be willing to raise taxes to pay for the irresponsible behavior of past politicians. If the money is not repaid in full, with interest, it will have been stolen by the government from working Americans who paid into the fund.

Read it for yourself in the report
Table of Contents

Since Social Security would be fully funded until at least 2037 if the government had not used the money for other things, the only reason that politicians are advocating cuts in Social Security benefits is the fact that the government does not have the money with which to pay its debt to Social Security.
Given the fact that Section 13301 of the Budget Enforcement Act of 1990 made it a violation of federal law to use Social Security revenue for non-Social Security purposes, it is hard to justify using the word “borrow” to refer to any of the Social Security money spent after 1990, even if it is eventually paid back.
It was stolen from the American workers pure and simple by a political accounting tactic.

I don't think that you understand. The money didn't actually move from the trust fund into the general fund in the way that you think.

Two: Here is your confusion=
In the early 1980s the Social Security Trust Funds had developed short-term cash flow problems, as a result of the adverse performance of the economy during the "stagflation" of the 1970s. As a stop-gap measure, Congress passed legislation in 1981 to permit inter-fund borrowing among the three Trust Funds (the Old-Age and Survivors Trust Fund; the Disability Trust Fund; and the Medicare Trust Fund). This authority was to lapse at the end of 1982. However, the 1983 Amendments extended the inter-fund borrowing authority to the end of 1987. Under the law as amended, all loans would have to be repaid by the end of 1989.

The inter-fund loans were required to be repaid with an amount of interest equal to that which the loaning fund would have earned had it had use of the money during this time. In other words, the borrowing fund was required to make the loaning fund whole at the end of the process.

This authority was used twice, once in November 1982 and once in December 1982. The total amount borrowed was $17.5 billion. The Old-Age and Survivors Trust Fund borrowed the money-$5.1 billion from the Disability Trust Fund and $12.4 billion from the Medicare Trust Fund. Repayment began in 1985 and the debt to the Medicare Trust Fund was paid off by January 1986 and the debt to the Disability Trust Fund was liquidated in April 1986.
http://www.ssa.gov/policy/docs/ssb/v46n9/v46n9p13.pdf

This is from 1983-Note that there are four funds listed here and why,
http://www.ssa.gov/policy/docs/ssb/v46n9/v46n9p13.pdf

Ok?
OK.

Payroll taxes include the Social Security tax and the Medicare tax. Social Security taxes provide benefits for retired workers, the disabled, and the dependents of both. The Medicare tax is used to provide medical benefits for certain individuals when they reach age 65. Workers, retired workers, and the spouses of both are eligible to receive Medicare benefits upon reaching age 65. Federal income taxes are used to provide for national programs such as national defense; veterans and foreign affairs; social programs; physical, human, and community development; law enforcement; and interest on the national debt.
Understanding Taxes - Module 1 Payroll Taxes and Federal Income Tax Withholding

Since the beginning of the Social Security program, all securities held by the trust funds have been issued by the Federal Government.
There are two general types of such securities:

1. special issues—securities available only to the trust funds; and
2. public issues—securities available to the public (marketable securities).

Today all securities held by the trust funds are special issues, but the funds have held public issues in the past.
Special issue types and properties
There are two types of special issues: short-term certificates of indebtedness and long-term bonds.

• The certificates of indebtedness are issued on a daily basis for the investment of receipts not required to meet current expenditures, and they mature on the next June 30 following the date of issue.
• Special-issue bonds are normally acquired only when special issues of either type mature on June 30. The bonds have maturities ranging from one to fifteen years.

The above properties of special issue securities are summarized in the following table.

Type of special issue	Investment frequency	Maturity
Certificates of indebtedness	Daily	Next June 30
Bonds	June 30	1 to 15 years

[TBODY] [/TBODY]

Special issue redemption rules
When special issues need to be redeemed prior to maturity, the securities are redeemed in order of

1. Earliest maturity date;
2. Lowest interest rate for securities with the same maturity date.

Special-issue securities Social Security trust funds

That's all smoke and mirrors. The bottom line is that all government money is effectively in a single pool. The fact they the keep track of some of it in one ledger and other parts of it in another ledger means nothing. The Trust Fund never had any real assets in it. It has always been a scam.

 

[Discombobulated]

The whole idea of the SS Trust Fund was to really create a "slush fund" for corrupt politicians to rob.


JWK



"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

Where do you people get these stupid fucking ideas?

It is not stupid ideas it is a fact.
LBJ was running an expensive war in South East Asia while also attempting to launch social engineering through programs which began with his 'Great Society'. Lacking the means to pay for both, he had the Social Security Trust Funds moved into the general fund. As these funds were removed they were replaced with an IOU and it continues to this very day.

Q1. Which political party took Social Security from the independent trust fund and put it into the general fund so that Congress could spend it?

A1: There has never been any change in the way the Social Security program is financed or the way that Social Security payroll taxes are used by the federal government. The Social Security Trust Fund was created in 1939 as part of the Amendments enacted in that year. From its inception, the Trust Fund has always worked the same way. The Social Security Trust Fund has never been "put into the general fund of the government."
Most likely this question comes from a confusion between the financing of the Social Security program and the way the Social Security Trust Fund is treated in federal budget accounting. Starting in 1969 (due to action by the Johnson Administration in 1968) the transactions to the Trust Fund were included in what is known as the "unified budget." This means that every function of the federal government is included in a single budget. This is sometimes described by saying that the Social Security Trust Funds are "on-budget." This budget treatment of the Social Security Trust Fund continued until 1990 when the Trust Funds were again taken "off-budget." This means only that they are shown as a separate account in the federal budget. But whether the Trust Funds are "on-budget" or "off-budget" is primarily a question of accounting practices--it has no effect on the actual operations of the Trust Fund itself.
Social Security History

The "unified budget." This means that every function of the federal government is included in a single budget.
That means they used the Social Security funds for other government programs and it included the funding for the Viet Nam War. After the war it was continually used for other government programs. Before that, the SSI funds was not included a unified budget and congress was not able to use the funds for anything other than just the Social Security program.


During the past 25 years, five presidents, from President Johnson to President Obama and the members of Congress, have participated in the great Social Security scam. All Social Security contributions made by working Americans, except the amount which was needed to pay current retirement benefits, has been funneled into the general fund and used for non-Social Security purposes.
Some like to say that the government just “borrowed” the money during the time period when it was not needed to pay benefits. But borrowing implies repayment, and no provisions for repayment have been made.
The government did not enact future tax increases that would automatically kick in when the Social Security money was needed. Neither did they enact legislation that would end other spending programs once the Social Security money was needed so the money could be transferred to the trust fund.
The government spent the Social Security money, pure and simple, without making any provisions for future repayments. The IOUs in the trust fund are not marketable, and they could not be sold to anyone even for a penny on the dollar.
The Social Security trustees confirmed the worthlessness of the IOUs in the 2009 Social Security Trustees Report with the following words:
“Neither the redemption of trust fund bonds, nor interest paid on those bonds, provides any new net income to the Treasury, which must finance redemptions and interest payments through some combination of increased taxation, reductions in other government spending, or additional borrowing from the public.”
In order for Social Security to pay full benefits after 2016, it will be necessary for the government to begin repaying the money it has spent on other things. This will mean increased taxes and/or additional borrowing.
Neither of these is politically popular, and there is no assurance that future politicians will be willing to raise taxes to pay for the irresponsible behavior of past politicians. If the money is not repaid in full, with interest, it will have been stolen by the government from working Americans who paid into the fund.

Read it for yourself in the report
Table of Contents

Since Social Security would be fully funded until at least 2037 if the government had not used the money for other things, the only reason that politicians are advocating cuts in Social Security benefits is the fact that the government does not have the money with which to pay its debt to Social Security.
Given the fact that Section 13301 of the Budget Enforcement Act of 1990 made it a violation of federal law to use Social Security revenue for non-Social Security purposes, it is hard to justify using the word “borrow” to refer to any of the Social Security money spent after 1990, even if it is eventually paid back.
It was stolen from the American workers pure and simple by a political accounting tactic.

I don't think that you understand. The money didn't actually move from the trust fund into the general fund in the way that you think.

Two: Here is your confusion=
In the early 1980s the Social Security Trust Funds had developed short-term cash flow problems, as a result of the adverse performance of the economy during the "stagflation" of the 1970s. As a stop-gap measure, Congress passed legislation in 1981 to permit inter-fund borrowing among the three Trust Funds (the Old-Age and Survivors Trust Fund; the Disability Trust Fund; and the Medicare Trust Fund). This authority was to lapse at the end of 1982. However, the 1983 Amendments extended the inter-fund borrowing authority to the end of 1987. Under the law as amended, all loans would have to be repaid by the end of 1989.

The inter-fund loans were required to be repaid with an amount of interest equal to that which the loaning fund would have earned had it had use of the money during this time. In other words, the borrowing fund was required to make the loaning fund whole at the end of the process.

This authority was used twice, once in November 1982 and once in December 1982. The total amount borrowed was $17.5 billion. The Old-Age and Survivors Trust Fund borrowed the money-$5.1 billion from the Disability Trust Fund and $12.4 billion from the Medicare Trust Fund. Repayment began in 1985 and the debt to the Medicare Trust Fund was paid off by January 1986 and the debt to the Disability Trust Fund was liquidated in April 1986.
http://www.ssa.gov/policy/docs/ssb/v46n9/v46n9p13.pdf

This is from 1983-Note that there are four funds listed here and why,
http://www.ssa.gov/policy/docs/ssb/v46n9/v46n9p13.pdf

Ok?
OK.

Payroll taxes include the Social Security tax and the Medicare tax. Social Security taxes provide benefits for retired workers, the disabled, and the dependents of both. The Medicare tax is used to provide medical benefits for certain individuals when they reach age 65. Workers, retired workers, and the spouses of both are eligible to receive Medicare benefits upon reaching age 65. Federal income taxes are used to provide for national programs such as national defense; veterans and foreign affairs; social programs; physical, human, and community development; law enforcement; and interest on the national debt.
Understanding Taxes - Module 1 Payroll Taxes and Federal Income Tax Withholding

Since the beginning of the Social Security program, all securities held by the trust funds have been issued by the Federal Government.
There are two general types of such securities:

1. special issues—securities available only to the trust funds; and
2. public issues—securities available to the public (marketable securities).

Today all securities held by the trust funds are special issues, but the funds have held public issues in the past.
Special issue types and properties
There are two types of special issues: short-term certificates of indebtedness and long-term bonds.

• The certificates of indebtedness are issued on a daily basis for the investment of receipts not required to meet current expenditures, and they mature on the next June 30 following the date of issue.
• Special-issue bonds are normally acquired only when special issues of either type mature on June 30. The bonds have maturities ranging from one to fifteen years.

The above properties of special issue securities are summarized in the following table.

Type of special issue	Investment frequency	Maturity
Certificates of indebtedness	Daily	Next June 30
Bonds	June 30	1 to 15 years

[TBODY] [/TBODY]

Special issue redemption rules
When special issues need to be redeemed prior to maturity, the securities are redeemed in order of

1. Earliest maturity date;
2. Lowest interest rate for securities with the same maturity date.

Special-issue securities Social Security trust funds

Thank you for clearly demonstrating how Social Security can easily be made solvent and in no way resembles a ponzi scheme.

 

[bripat9643]

Where do you people get these stupid fucking ideas?

It is not stupid ideas it is a fact.
LBJ was running an expensive war in South East Asia while also attempting to launch social engineering through programs which began with his 'Great Society'. Lacking the means to pay for both, he had the Social Security Trust Funds moved into the general fund. As these funds were removed they were replaced with an IOU and it continues to this very day.

Q1. Which political party took Social Security from the independent trust fund and put it into the general fund so that Congress could spend it?

A1: There has never been any change in the way the Social Security program is financed or the way that Social Security payroll taxes are used by the federal government. The Social Security Trust Fund was created in 1939 as part of the Amendments enacted in that year. From its inception, the Trust Fund has always worked the same way. The Social Security Trust Fund has never been "put into the general fund of the government."
Most likely this question comes from a confusion between the financing of the Social Security program and the way the Social Security Trust Fund is treated in federal budget accounting. Starting in 1969 (due to action by the Johnson Administration in 1968) the transactions to the Trust Fund were included in what is known as the "unified budget." This means that every function of the federal government is included in a single budget. This is sometimes described by saying that the Social Security Trust Funds are "on-budget." This budget treatment of the Social Security Trust Fund continued until 1990 when the Trust Funds were again taken "off-budget." This means only that they are shown as a separate account in the federal budget. But whether the Trust Funds are "on-budget" or "off-budget" is primarily a question of accounting practices--it has no effect on the actual operations of the Trust Fund itself.
Social Security History

The "unified budget." This means that every function of the federal government is included in a single budget.
That means they used the Social Security funds for other government programs and it included the funding for the Viet Nam War. After the war it was continually used for other government programs. Before that, the SSI funds was not included a unified budget and congress was not able to use the funds for anything other than just the Social Security program.


During the past 25 years, five presidents, from President Johnson to President Obama and the members of Congress, have participated in the great Social Security scam. All Social Security contributions made by working Americans, except the amount which was needed to pay current retirement benefits, has been funneled into the general fund and used for non-Social Security purposes.
Some like to say that the government just “borrowed” the money during the time period when it was not needed to pay benefits. But borrowing implies repayment, and no provisions for repayment have been made.
The government did not enact future tax increases that would automatically kick in when the Social Security money was needed. Neither did they enact legislation that would end other spending programs once the Social Security money was needed so the money could be transferred to the trust fund.
The government spent the Social Security money, pure and simple, without making any provisions for future repayments. The IOUs in the trust fund are not marketable, and they could not be sold to anyone even for a penny on the dollar.
The Social Security trustees confirmed the worthlessness of the IOUs in the 2009 Social Security Trustees Report with the following words:
“Neither the redemption of trust fund bonds, nor interest paid on those bonds, provides any new net income to the Treasury, which must finance redemptions and interest payments through some combination of increased taxation, reductions in other government spending, or additional borrowing from the public.”
In order for Social Security to pay full benefits after 2016, it will be necessary for the government to begin repaying the money it has spent on other things. This will mean increased taxes and/or additional borrowing.
Neither of these is politically popular, and there is no assurance that future politicians will be willing to raise taxes to pay for the irresponsible behavior of past politicians. If the money is not repaid in full, with interest, it will have been stolen by the government from working Americans who paid into the fund.

Read it for yourself in the report
Table of Contents

Since Social Security would be fully funded until at least 2037 if the government had not used the money for other things, the only reason that politicians are advocating cuts in Social Security benefits is the fact that the government does not have the money with which to pay its debt to Social Security.
Given the fact that Section 13301 of the Budget Enforcement Act of 1990 made it a violation of federal law to use Social Security revenue for non-Social Security purposes, it is hard to justify using the word “borrow” to refer to any of the Social Security money spent after 1990, even if it is eventually paid back.
It was stolen from the American workers pure and simple by a political accounting tactic.

I don't think that you understand. The money didn't actually move from the trust fund into the general fund in the way that you think.

Two: Here is your confusion=
In the early 1980s the Social Security Trust Funds had developed short-term cash flow problems, as a result of the adverse performance of the economy during the "stagflation" of the 1970s. As a stop-gap measure, Congress passed legislation in 1981 to permit inter-fund borrowing among the three Trust Funds (the Old-Age and Survivors Trust Fund; the Disability Trust Fund; and the Medicare Trust Fund). This authority was to lapse at the end of 1982. However, the 1983 Amendments extended the inter-fund borrowing authority to the end of 1987. Under the law as amended, all loans would have to be repaid by the end of 1989.

The inter-fund loans were required to be repaid with an amount of interest equal to that which the loaning fund would have earned had it had use of the money during this time. In other words, the borrowing fund was required to make the loaning fund whole at the end of the process.

This authority was used twice, once in November 1982 and once in December 1982. The total amount borrowed was $17.5 billion. The Old-Age and Survivors Trust Fund borrowed the money-$5.1 billion from the Disability Trust Fund and $12.4 billion from the Medicare Trust Fund. Repayment began in 1985 and the debt to the Medicare Trust Fund was paid off by January 1986 and the debt to the Disability Trust Fund was liquidated in April 1986.
http://www.ssa.gov/policy/docs/ssb/v46n9/v46n9p13.pdf

This is from 1983-Note that there are four funds listed here and why,
http://www.ssa.gov/policy/docs/ssb/v46n9/v46n9p13.pdf

Ok?
OK.

Payroll taxes include the Social Security tax and the Medicare tax. Social Security taxes provide benefits for retired workers, the disabled, and the dependents of both. The Medicare tax is used to provide medical benefits for certain individuals when they reach age 65. Workers, retired workers, and the spouses of both are eligible to receive Medicare benefits upon reaching age 65. Federal income taxes are used to provide for national programs such as national defense; veterans and foreign affairs; social programs; physical, human, and community development; law enforcement; and interest on the national debt.
Understanding Taxes - Module 1 Payroll Taxes and Federal Income Tax Withholding

Since the beginning of the Social Security program, all securities held by the trust funds have been issued by the Federal Government.
There are two general types of such securities:

1. special issues—securities available only to the trust funds; and
2. public issues—securities available to the public (marketable securities).

Today all securities held by the trust funds are special issues, but the funds have held public issues in the past.
Special issue types and properties
There are two types of special issues: short-term certificates of indebtedness and long-term bonds.

• The certificates of indebtedness are issued on a daily basis for the investment of receipts not required to meet current expenditures, and they mature on the next June 30 following the date of issue.
• Special-issue bonds are normally acquired only when special issues of either type mature on June 30. The bonds have maturities ranging from one to fifteen years.

The above properties of special issue securities are summarized in the following table.

Type of special issue	Investment frequency	Maturity
Certificates of indebtedness	Daily	Next June 30
Bonds	June 30	1 to 15 years

[TBODY] [/TBODY]

Special issue redemption rules
When special issues need to be redeemed prior to maturity, the securities are redeemed in order of

1. Earliest maturity date;
2. Lowest interest rate for securities with the same maturity date.

Special-issue securities Social Security trust funds

Thank you for clearly demonstrating how Social Security can easily be made solvent and in no way resembles a ponzi scheme.

The fact the SS need to be "made solvent" is all the evidence needed to prove it's a Ponzi schemes. Legitimate private sector programs don't ever "need to be made solvent." That's another way of saying they are insolvent: bankrupt, in other words.

 

[Toro]

It is not stupid ideas it is a fact.
LBJ was running an expensive war in South East Asia while also attempting to launch social engineering through programs which began with his 'Great Society'. Lacking the means to pay for both, he had the Social Security Trust Funds moved into the general fund. As these funds were removed they were replaced with an IOU and it continues to this very day.

Q1. Which political party took Social Security from the independent trust fund and put it into the general fund so that Congress could spend it?

A1: There has never been any change in the way the Social Security program is financed or the way that Social Security payroll taxes are used by the federal government. The Social Security Trust Fund was created in 1939 as part of the Amendments enacted in that year. From its inception, the Trust Fund has always worked the same way. The Social Security Trust Fund has never been "put into the general fund of the government."
Most likely this question comes from a confusion between the financing of the Social Security program and the way the Social Security Trust Fund is treated in federal budget accounting. Starting in 1969 (due to action by the Johnson Administration in 1968) the transactions to the Trust Fund were included in what is known as the "unified budget." This means that every function of the federal government is included in a single budget. This is sometimes described by saying that the Social Security Trust Funds are "on-budget." This budget treatment of the Social Security Trust Fund continued until 1990 when the Trust Funds were again taken "off-budget." This means only that they are shown as a separate account in the federal budget. But whether the Trust Funds are "on-budget" or "off-budget" is primarily a question of accounting practices--it has no effect on the actual operations of the Trust Fund itself.
Social Security History

The "unified budget." This means that every function of the federal government is included in a single budget.
That means they used the Social Security funds for other government programs and it included the funding for the Viet Nam War. After the war it was continually used for other government programs. Before that, the SSI funds was not included a unified budget and congress was not able to use the funds for anything other than just the Social Security program.


During the past 25 years, five presidents, from President Johnson to President Obama and the members of Congress, have participated in the great Social Security scam. All Social Security contributions made by working Americans, except the amount which was needed to pay current retirement benefits, has been funneled into the general fund and used for non-Social Security purposes.
Some like to say that the government just “borrowed” the money during the time period when it was not needed to pay benefits. But borrowing implies repayment, and no provisions for repayment have been made.
The government did not enact future tax increases that would automatically kick in when the Social Security money was needed. Neither did they enact legislation that would end other spending programs once the Social Security money was needed so the money could be transferred to the trust fund.
The government spent the Social Security money, pure and simple, without making any provisions for future repayments. The IOUs in the trust fund are not marketable, and they could not be sold to anyone even for a penny on the dollar.
The Social Security trustees confirmed the worthlessness of the IOUs in the 2009 Social Security Trustees Report with the following words:
“Neither the redemption of trust fund bonds, nor interest paid on those bonds, provides any new net income to the Treasury, which must finance redemptions and interest payments through some combination of increased taxation, reductions in other government spending, or additional borrowing from the public.”
In order for Social Security to pay full benefits after 2016, it will be necessary for the government to begin repaying the money it has spent on other things. This will mean increased taxes and/or additional borrowing.
Neither of these is politically popular, and there is no assurance that future politicians will be willing to raise taxes to pay for the irresponsible behavior of past politicians. If the money is not repaid in full, with interest, it will have been stolen by the government from working Americans who paid into the fund.

Read it for yourself in the report
Table of Contents

Since Social Security would be fully funded until at least 2037 if the government had not used the money for other things, the only reason that politicians are advocating cuts in Social Security benefits is the fact that the government does not have the money with which to pay its debt to Social Security.
Given the fact that Section 13301 of the Budget Enforcement Act of 1990 made it a violation of federal law to use Social Security revenue for non-Social Security purposes, it is hard to justify using the word “borrow” to refer to any of the Social Security money spent after 1990, even if it is eventually paid back.
It was stolen from the American workers pure and simple by a political accounting tactic.

I don't think that you understand. The money didn't actually move from the trust fund into the general fund in the way that you think.

Two: Here is your confusion=
In the early 1980s the Social Security Trust Funds had developed short-term cash flow problems, as a result of the adverse performance of the economy during the "stagflation" of the 1970s. As a stop-gap measure, Congress passed legislation in 1981 to permit inter-fund borrowing among the three Trust Funds (the Old-Age and Survivors Trust Fund; the Disability Trust Fund; and the Medicare Trust Fund). This authority was to lapse at the end of 1982. However, the 1983 Amendments extended the inter-fund borrowing authority to the end of 1987. Under the law as amended, all loans would have to be repaid by the end of 1989.

The inter-fund loans were required to be repaid with an amount of interest equal to that which the loaning fund would have earned had it had use of the money during this time. In other words, the borrowing fund was required to make the loaning fund whole at the end of the process.

This authority was used twice, once in November 1982 and once in December 1982. The total amount borrowed was $17.5 billion. The Old-Age and Survivors Trust Fund borrowed the money-$5.1 billion from the Disability Trust Fund and $12.4 billion from the Medicare Trust Fund. Repayment began in 1985 and the debt to the Medicare Trust Fund was paid off by January 1986 and the debt to the Disability Trust Fund was liquidated in April 1986.
http://www.ssa.gov/policy/docs/ssb/v46n9/v46n9p13.pdf

This is from 1983-Note that there are four funds listed here and why,
http://www.ssa.gov/policy/docs/ssb/v46n9/v46n9p13.pdf

Ok?
OK.

Payroll taxes include the Social Security tax and the Medicare tax. Social Security taxes provide benefits for retired workers, the disabled, and the dependents of both. The Medicare tax is used to provide medical benefits for certain individuals when they reach age 65. Workers, retired workers, and the spouses of both are eligible to receive Medicare benefits upon reaching age 65. Federal income taxes are used to provide for national programs such as national defense; veterans and foreign affairs; social programs; physical, human, and community development; law enforcement; and interest on the national debt.
Understanding Taxes - Module 1 Payroll Taxes and Federal Income Tax Withholding

Since the beginning of the Social Security program, all securities held by the trust funds have been issued by the Federal Government.
There are two general types of such securities:

1. special issues—securities available only to the trust funds; and
2. public issues—securities available to the public (marketable securities).

Today all securities held by the trust funds are special issues, but the funds have held public issues in the past.
Special issue types and properties
There are two types of special issues: short-term certificates of indebtedness and long-term bonds.

• The certificates of indebtedness are issued on a daily basis for the investment of receipts not required to meet current expenditures, and they mature on the next June 30 following the date of issue.
• Special-issue bonds are normally acquired only when special issues of either type mature on June 30. The bonds have maturities ranging from one to fifteen years.

The above properties of special issue securities are summarized in the following table.

Type of special issue	Investment frequency	Maturity
Certificates of indebtedness	Daily	Next June 30
Bonds	June 30	1 to 15 years

[TBODY] [/TBODY]

Special issue redemption rules
When special issues need to be redeemed prior to maturity, the securities are redeemed in order of

1. Earliest maturity date;
2. Lowest interest rate for securities with the same maturity date.

Special-issue securities Social Security trust funds

Thank you for clearly demonstrating how Social Security can easily be made solvent and in no way resembles a ponzi scheme.

The fact the SS need to be "made solvent" is all the evidence needed to prove it's a Ponzi schemes. Legitimate private sector programs don't ever "need to be made solvent." That's another way of saying they are insolvent: bankrupt, in other words.

Actually, private sector programs did need to be "made solvent." Most private sector pensions were not fully funded a decade ago also. Did that make most corporate pension plans "bankrupt?" Of course not. That's silly. Instead, companies increased contributions. SS can be "made solvent" in the same way.