Paul Ryan claims Social Security is "going bankrupt", actual figures show 2.7T surplu

[uscitizen]

Actual figures from something called "nation.com"? Cartoons rather than reality? That's how democrats function. Even a moron democrat understands that there can never be a surplus in Social Security because LBJ made it legal for the federal government to spend every dime confiscated. The problem is that even the confiscated FICA tax couldn't keep up with the federal spending if they spent it on Social Security.

You need to learn a bit more. The spending of the surplus started long before LBJ.

 

[sitarro]

Wiki-

In the United States, the Social Security Trust Fund is a fund operated by the Social Security Administration into which are paid payroll tax contributions from workers and employers under the Social Security system and out of which benefit payments are made to retirees, survivors, and the disabled, and for general administrative expenses. The fund also earns interest. There technically are two component funds, the Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds, referred to collectively as the OASDI funds.

When program revenues exceed payments (i.e., the program is in surplus) the extra funds are borrowed and used by the government for other purposes, but a legal obligation to program recipients is created to the extent this occurs. These surpluses add to the Trust Fund. At the end of 2011, the Trust Fund contained (or alternatively, was owed) $2.7 trillion, up $69 billion from 2010.[1] The fund is required by law to be invested in non-marketable securities issued and guaranteed by the "full faith and credit" of the federal government.

The trust fund represents a legal obligation to Social Security program recipients and is considered "intra-governmental" debt, a component of the "public" or "national" debt. As of April 2012, the intragovernmental debt was $4.8 trillion of the $15.7 trillion national debt.[2]

According to the Social Security Trustees, who oversee the program and report on its financial condition, program costs are expected to exceed non-interest income from 2011 onward. However, due to interest (earned at a 4.4% rate in 2011) the program will run an overall surplus that adds to the fund through the end of 2021. Under current law, the securities in the fund represent a legal obligation the government must honor when program revenues are no longer sufficient to fully fund benefit payments. However, when the trust fund is used to cover program deficits in a given year, the Trust Fund balance is reduced. By 2033, the fund is expected to be exhausted. Thereafter, payroll taxes are projected to only cover approximately 75% of program obligations.[3]

There is controversy regarding whether the U.S. government will be able to borrow sufficient amounts to honor its obligations fully to recipients or whether program modifications are required. This is a challenge for the Federal government overall, not just the Social Security program.

I bet you believed it when the talking assholes of the democrat party claimed that Clinton left a huge surplus, didn't you? And you go around calling others dumb........typical.

 

[martybegan]

You do realize the Feds spent that "surplus" years ago, right?

Mostly under Dubya. Do you actually believe Americans want our country to default, because scumbags like you approved the Bush economics?

So Bush was president during the time the feds started using the SS surplus to fund the federal general fund?

You do know that the feds have been raiding that kitty for decades before bush came into office right?

 

[flacaltenn]

Wiki-

In the United States, the Social Security Trust Fund is a fund operated by the Social Security Administration into which are paid payroll tax contributions from workers and employers under the Social Security system and out of which benefit payments are made to retirees, survivors, and the disabled, and for general administrative expenses. The fund also earns interest. There technically are two component funds, the Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds, referred to collectively as the OASDI funds.

When program revenues exceed payments (i.e., the program is in surplus) the extra funds are borrowed and used by the government for other purposes, but a legal obligation to program recipients is created to the extent this occurs. These surpluses add to the Trust Fund. At the end of 2011, the Trust Fund contained (or alternatively, was owed) $2.7 trillion, up $69 billion from 2010.[1] The fund is required by law to be invested in non-marketable securities issued and guaranteed by the "full faith and credit" of the federal government.

The trust fund represents a legal obligation to Social Security program recipients and is considered "intra-governmental" debt, a component of the "public" or "national" debt. As of April 2012, the intragovernmental debt was $4.8 trillion of the $15.7 trillion national debt.[2]

According to the Social Security Trustees, who oversee the program and report on its financial condition, program costs are expected to exceed non-interest income from 2011 onward. However, due to interest (earned at a 4.4% rate in 2011) the program will run an overall surplus that adds to the fund through the end of 2021. Under current law, the securities in the fund represent a legal obligation the government must honor when program revenues are no longer sufficient to fully fund benefit payments. However, when the trust fund is used to cover program deficits in a given year, the Trust Fund balance is reduced. By 2033, the fund is expected to be exhausted. Thereafter, payroll taxes are projected to only cover approximately 75% of program obligations.[3]

There is controversy regarding whether the U.S. government will be able to borrow sufficient amounts to honor its obligations fully to recipients or whether program modifications are required. This is a challenge for the Federal government overall, not just the Social Security program.

Nice try retard.. (and I use that sparingly) -- EVERY PENNY that is paid out of phoney "TRUST FUND" comes from CURRENT and future TAXPAYERS. There is NOTHING IN the Trust Fund. It's a complete fiction that only retards buy into.

WE (current taxpayers) not only have to fund the Principal and Interest on the Stolen monies -- BUT THEN --- we have to BORROW money from China to pay for it. AND PAY THE INTEREST ON THAT.. You are paying 3 Times for that same SS benefit moron.

And your Dear Leader -- is CURRENTLY STEALING the premiums from Soc Sec so that he can look like Robin Hood to the Class Warriors..

Now Franco -- Truly -- what part of that don't you understand????