NYcarbineer
Diamond Member
They don't "skim" the trusts. The trusts are consolidated into the budget.
Puleeeezzz...
The 1983 Greenspan Commission initiated changes in Social Security that generated large surpluses. As soon as the first surpluses began to role in, in 1985, the money was put into the general revenue fund and spent on other government programs. http://dissidentvoice.org/2010/04/h...ever-perpetrated-against-the-american-people/
a. In 1985, the Social Security Trust Fund surplus was only $7.5 billion, a decade later it was $60.4 billion.
b. In 2000, the surplus was $152 billion. Clinton took the $152 billion, and counted it as income, instead of the debt it actually repesented.
c. Instead of Social Security subsidizing the rest of the budget, the rest of the budget will have to subsidize Social Security. Andrew Biggs, a resident scholar at the American Enterprise Institute http://www.cbsnews.com/stories/2009/03/31/politics/washingtonpost/main4906936.shtml
Social Security LOANS money to the federal government. Just like anyone who buys a treasury bill or bond loans money to the federal government.