Who Stole Social Security

[Dad2three]

Fast forward to today where we have Republican think tanks trying to convince Americans that the trust fund's insolvency reflects problems with security as opposed to just saying the truth:

"We don't have the tax money that you contributed to SS. We fucking stole it so we could give subsidies to oil monopolies and bail out our banker buddies. Oh, and guess what? We also diverted some of the money to think tanks and popular media so that they could create bogus talking points and articles exonerating us."

The OP should turn off talk radio.

(God Help Us. He votes)

The commenter should stay on prescribed meds.

You are confusing talk radio and the Social Security Administration - of course it is possible that they are part of the conspiracy.

Your lies and dodges noted Bubba, as always, CONservatives are NEVER honest. Shocking I know

 

[Campbell]

Fast forward to today where we have Republican think tanks trying to convince Americans that the trust fund's insolvency reflects problems with security as opposed to just saying the truth:

"We don't have the tax money that you contributed to SS. We fucking stole it so we could give subsidies to oil monopolies and bail out our banker buddies. Oh, and guess what? We also diverted some of the money to think tanks and popular media so that they could create bogus talking points and articles exonerating us."

The OP should turn off talk radio.

(God Help Us. He votes)

The commenter should stay on prescribed meds.

You are confusing talk radio and the Social Security Administration - of course it is possible that they are part of the conspiracy.

I told you goddammit!!!
It's in the congressional record of the 106th congress of the United States:

The fact of the matter is that Bill Clinton had a $400 billion surplus. It was used to buy back debt. They bought back old debt which was paying a higher rate of interest and issued new debt at a savings in interest. Read the congressional record for the 106th congress. That pretty well clarifies the entire situation:

Didn't make a hill of beans difference. The first thing George W. Bush did was cut taxes on the rich twice and then started two wars, one totally unnecessary...then doubled the debt from $5.7 trillion to nearly $12 trillion. It's a matter of record. All you have to do is read it:


FY1998 (106th Congress)

The Congressional Budget Office and the Office of Management and
Budget have both forecast sizeable budget surpluses over the next 15
years. Fiscal year 1998 surpluses already have reduced the Government's borrowing needs, causing Treasury to adjust its debt management policies. Last year, Treasury suspended auctions of 3-year notes and reduced the frequency of 5-year note sales.

As large surpluses continue to reduce the Government's borrowing needs, Treasury must consider how its policies will affect taxpayer costs and capital market efficiency.

Consequently, Treasury is exploring new debt management polices. On August 4, 1999, Treasury announced regulations (31 CFR Part 375) to allow Treasury to buy back outstanding debt before it matures. In essence, Treasury would buy back old debt and re-issue new debt in its place. Our goal will be to reduce significantly the national debt at the least cost to the taxpayer.''

 

[OKTexas]

The most popular response to the question how did Social Security go off track is : someone (insert a variety of names) stole the money. Chris Christie - the only candidate willing to talk about Social Security - has invoked the crazy card in both of the GOP debates. They stole it without ever asserting who 'they' is.

There is exactly zero evidence that any money has been misused. What people call 'worthless IOUs', investment professionals call cash equivalents. The Trust Fund today is what separates us from immediate 12% reduction in benefits.

It is easier for people to believe that someone stole the money rather than the system is simply broken, spinning promises out of control.

The longer article is now Independent Voter News,
Despite What You've Heard, No One Is Stealing from Social Security - IVN.us

Tell me, self-proclaimed economist, why is SS bowering money to make up their revenue shortfalls instead of cashing in some of the IOU's? Also, what is the procedure for SS to cash in the IOU's.

 

[JoeTheEconomist]

Fast forward to today where we have Republican think tanks trying to convince Americans that the trust fund's insolvency reflects problems with security as opposed to just saying the truth:

"We don't have the tax money that you contributed to SS. We fucking stole it so we could give subsidies to oil monopolies and bail out our banker buddies. Oh, and guess what? We also diverted some of the money to think tanks and popular media so that they could create bogus talking points and articles exonerating us."

The OP should turn off talk radio.

(God Help Us. He votes)

The commenter should stay on prescribed meds.

You are confusing talk radio and the Social Security Administration - of course it is possible that they are part of the conspiracy.

I told you goddammit!!!
It's in the congressional record of the 106th congress of the United States:

The fact of the matter is that Bill Clinton had a $400 billion surplus. It was used to buy back debt. They bought back old debt which was paying a higher rate of interest and issued new debt at a savings in interest. Read the congressional record for the 106th congress. That pretty well clarifies the entire situation:

Didn't make a hill of beans difference. The first thing George W. Bush did was cut taxes on the rich twice and then started two wars, one totally unnecessary...then doubled the debt from $5.7 trillion to nearly $12 trillion. It's a matter of record. All you have to do is read it:


FY1998 (106th Congress)

The Congressional Budget Office and the Office of Management and
Budget have both forecast sizeable budget surpluses over the next 15
years. Fiscal year 1998 surpluses already have reduced the Government's borrowing needs, causing Treasury to adjust its debt management policies. Last year, Treasury suspended auctions of 3-year notes and reduced the frequency of 5-year note sales.

As large surpluses continue to reduce the Government's borrowing needs, Treasury must consider how its policies will affect taxpayer costs and capital market efficiency.

Consequently, Treasury is exploring new debt management polices. On August 4, 1999, Treasury announced regulations (31 CFR Part 375) to allow Treasury to buy back outstanding debt before it matures. In essence, Treasury would buy back old debt and re-issue new debt in its place. Our goal will be to reduce significantly the national debt at the least cost to the taxpayer.''

Where you read it is somewhat secondary to what it actually says. It is a projection that was created in the middle of the internet bubble by politicians who didn't understand what a bubble is. Judging that you have cited this as important tells me that you likely do not know what you are reading. Before Bush arrived, the stock market was already in a bear market. The jobs created by Y2K were ending.

Facts from the SSA or projections from CBO. The OP is based on facts from the SSA.

 

[JoeTheEconomist]

The most popular response to the question how did Social Security go off track is : someone (insert a variety of names) stole the money. Chris Christie - the only candidate willing to talk about Social Security - has invoked the crazy card in both of the GOP debates. They stole it without ever asserting who 'they' is.

There is exactly zero evidence that any money has been misused. What people call 'worthless IOUs', investment professionals call cash equivalents. The Trust Fund today is what separates us from immediate 12% reduction in benefits.

It is easier for people to believe that someone stole the money rather than the system is simply broken, spinning promises out of control.

The longer article is now Independent Voter News,
Despite What You've Heard, No One Is Stealing from Social Security - IVN.us

Tell me, self-proclaimed economist, why is SS bowering money to make up their revenue shortfalls instead of cashing in some of the IOU's? Also, what is the procedure for SS to cash in the IOU's.

First, you would have to explain why you think that SS is borrowing money to make up for their revenue shortfalls. SS is not allowed to borrow money under current law. This is why the DI system is close to insolvency. That insolvency is pushing Congress to allow DI to be able to borrow from the OAS system.

 

[Campbell]

Fast forward to today where we have Republican think tanks trying to convince Americans that the trust fund's insolvency reflects problems with security as opposed to just saying the truth:

"We don't have the tax money that you contributed to SS. We fucking stole it so we could give subsidies to oil monopolies and bail out our banker buddies. Oh, and guess what? We also diverted some of the money to think tanks and popular media so that they could create bogus talking points and articles exonerating us."

The OP should turn off talk radio.

(God Help Us. He votes)

The commenter should stay on prescribed meds.

You are confusing talk radio and the Social Security Administration - of course it is possible that they are part of the conspiracy.

I told you goddammit!!!
It's in the congressional record of the 106th congress of the United States:

The fact of the matter is that Bill Clinton had a $400 billion surplus. It was used to buy back debt. They bought back old debt which was paying a higher rate of interest and issued new debt at a savings in interest. Read the congressional record for the 106th congress. That pretty well clarifies the entire situation:

Didn't make a hill of beans difference. The first thing George W. Bush did was cut taxes on the rich twice and then started two wars, one totally unnecessary...then doubled the debt from $5.7 trillion to nearly $12 trillion. It's a matter of record. All you have to do is read it:


FY1998 (106th Congress)

The Congressional Budget Office and the Office of Management and
Budget have both forecast sizeable budget surpluses over the next 15
years. Fiscal year 1998 surpluses already have reduced the Government's borrowing needs, causing Treasury to adjust its debt management policies. Last year, Treasury suspended auctions of 3-year notes and reduced the frequency of 5-year note sales.

As large surpluses continue to reduce the Government's borrowing needs, Treasury must consider how its policies will affect taxpayer costs and capital market efficiency.

Consequently, Treasury is exploring new debt management polices. On August 4, 1999, Treasury announced regulations (31 CFR Part 375) to allow Treasury to buy back outstanding debt before it matures. In essence, Treasury would buy back old debt and re-issue new debt in its place. Our goal will be to reduce significantly the national debt at the least cost to the taxpayer.''

Where you read it is somewhat secondary to what it actually says. It is a projection that was created in the middle of the internet bubble by politicians who didn't understand what a bubble is. Judging that you have cited this as important tells me that you likely do not know what you are reading. Before Bush arrived, the stock market was already in a bear market. The jobs created by Y2K were ending.

Facts from the SSA or projections from CBO. The OP is based on facts from the SSA.

Like most NeoCons you're full of shit!

Don't you people get it? When you cut taxes you should be running enough surplus to cover the cost. The reason....it benefits the rich people who don't even need it and it increases the national debt. Whether you want to read it or not George W. Bush assumed a surplus with more projected to a paid off national debt. What was the first thing he did? He cut taxes not once but twice, 2001 and 2003 using reconciliation to block Democrat opposition. Then...guess what? He started two wars, one totally unnecessary and proceeded to double the national debt from $5.7 trillion to nearly $12 trillion. What a genius!! DUUUUHH

 

[Dad2three]

Fast forward to today where we have Republican think tanks trying to convince Americans that the trust fund's insolvency reflects problems with security as opposed to just saying the truth:

"We don't have the tax money that you contributed to SS. We fucking stole it so we could give subsidies to oil monopolies and bail out our banker buddies. Oh, and guess what? We also diverted some of the money to think tanks and popular media so that they could create bogus talking points and articles exonerating us."

The OP should turn off talk radio.

(God Help Us. He votes)

The commenter should stay on prescribed meds.

You are confusing talk radio and the Social Security Administration - of course it is possible that they are part of the conspiracy.

I told you goddammit!!!
It's in the congressional record of the 106th congress of the United States:

The fact of the matter is that Bill Clinton had a $400 billion surplus. It was used to buy back debt. They bought back old debt which was paying a higher rate of interest and issued new debt at a savings in interest. Read the congressional record for the 106th congress. That pretty well clarifies the entire situation:

Didn't make a hill of beans difference. The first thing George W. Bush did was cut taxes on the rich twice and then started two wars, one totally unnecessary...then doubled the debt from $5.7 trillion to nearly $12 trillion. It's a matter of record. All you have to do is read it:


FY1998 (106th Congress)

The Congressional Budget Office and the Office of Management and
Budget have both forecast sizeable budget surpluses over the next 15
years. Fiscal year 1998 surpluses already have reduced the Government's borrowing needs, causing Treasury to adjust its debt management policies. Last year, Treasury suspended auctions of 3-year notes and reduced the frequency of 5-year note sales.

As large surpluses continue to reduce the Government's borrowing needs, Treasury must consider how its policies will affect taxpayer costs and capital market efficiency.

Consequently, Treasury is exploring new debt management polices. On August 4, 1999, Treasury announced regulations (31 CFR Part 375) to allow Treasury to buy back outstanding debt before it matures. In essence, Treasury would buy back old debt and re-issue new debt in its place. Our goal will be to reduce significantly the national debt at the least cost to the taxpayer.''

Where you read it is somewhat secondary to what it actually says. It is a projection that was created in the middle of the internet bubble by politicians who didn't understand what a bubble is. Judging that you have cited this as important tells me that you likely do not know what you are reading. Before Bush arrived, the stock market was already in a bear market. The jobs created by Y2K were ending.

Facts from the SSA or projections from CBO. The OP is based on facts from the SSA.

Yet Dubya lost 1+ million private sector jobs in 8 years and had 2 UNFUNDED tax cuts that was going to create jobs. GO FIGUURE

 

[Campbell]

Fast forward to today where we have Republican think tanks trying to convince Americans that the trust fund's insolvency reflects problems with security as opposed to just saying the truth:

"We don't have the tax money that you contributed to SS. We fucking stole it so we could give subsidies to oil monopolies and bail out our banker buddies. Oh, and guess what? We also diverted some of the money to think tanks and popular media so that they could create bogus talking points and articles exonerating us."

The OP should turn off talk radio.

(God Help Us. He votes)

The commenter should stay on prescribed meds.

You are confusing talk radio and the Social Security Administration - of course it is possible that they are part of the conspiracy.

I told you goddammit!!!
It's in the congressional record of the 106th congress of the United States:

The fact of the matter is that Bill Clinton had a $400 billion surplus. It was used to buy back debt. They bought back old debt which was paying a higher rate of interest and issued new debt at a savings in interest. Read the congressional record for the 106th congress. That pretty well clarifies the entire situation:

Didn't make a hill of beans difference. The first thing George W. Bush did was cut taxes on the rich twice and then started two wars, one totally unnecessary...then doubled the debt from $5.7 trillion to nearly $12 trillion. It's a matter of record. All you have to do is read it:


FY1998 (106th Congress)

The Congressional Budget Office and the Office of Management and
Budget have both forecast sizeable budget surpluses over the next 15
years. Fiscal year 1998 surpluses already have reduced the Government's borrowing needs, causing Treasury to adjust its debt management policies. Last year, Treasury suspended auctions of 3-year notes and reduced the frequency of 5-year note sales.

As large surpluses continue to reduce the Government's borrowing needs, Treasury must consider how its policies will affect taxpayer costs and capital market efficiency.

Consequently, Treasury is exploring new debt management polices. On August 4, 1999, Treasury announced regulations (31 CFR Part 375) to allow Treasury to buy back outstanding debt before it matures. In essence, Treasury would buy back old debt and re-issue new debt in its place. Our goal will be to reduce significantly the national debt at the least cost to the taxpayer.''

Where you read it is somewhat secondary to what it actually says. It is a projection that was created in the middle of the internet bubble by politicians who didn't understand what a bubble is. Judging that you have cited this as important tells me that you likely do not know what you are reading. Before Bush arrived, the stock market was already in a bear market. The jobs created by Y2K were ending.

Facts from the SSA or projections from CBO. The OP is based on facts from the SSA.

Yet Dubya lost 1+ million private sector jobs in 8 years and had 2 UNFUNDED tax cuts that was going to create jobs. GO FIGUURE

And now Obama after assuming the worst mess since the great depression has seen the unemployment rate drop from 7.3% to 5.1%, we've had 66 consecutive months of job growth and the stock market has more than doubled. Folks' 401K's and IRA's have fared well under president Obama.

 

[waltky]

Granny still out atta mailbox waitin' fer dat 2nd stimulus check...

No Yearly Increase for Social Security Recipients
Saturday, October 17, 2015 - There is tough economic news Friday for those dependent on Social Security.

The government announced Thursday there will be no cost-of-living (COLA) increase in their benefits next year, and Medicare payments are set to go up.

Social Security recipients usually get a yearly increase to compensate for inflation. This year, low gas prices are affecting the formula used to calculate the COLA increase. "You've got all kinds of people receiving COLA-adjusted retirement benefits. This is going to be another blow to their retirement income," Mary Johnson, with the Senior Citizens League, told The Associated Press. "It's a huge amount over a lifetime."

Some 60 million Americans receive Social Security.

No Yearly Increase for Social Security Recipients - Finance - CBN News - Christian News 24-7 - CBN.com

 

[Lakhota]

Social security has no assets, only IOU's that can only be redeemed by the federal government

Which agencies own the most Treasuries? Social Security, by a long shot. Here's the detailed breakdown (as of September 30, 2014):

• Social Security (Social Security Trust Fund and Federal Disability Insurance Trust Fund) - $2.783 trillion
• Office of Personnel Management Retirement - $924 billion
• Military Retirement Fund - $483 billion
• Medicare (Federal Hospital Insurance Trust Fund, Federal Supplementary Medical Insurance Trust Fund) - $270 billion

• All Other Retirement Funds - $117 billion
• Cash on Hand to Fund Federal Government Operations - $463 billion. (Source: Treasury Bulletin, Monthly Treasury Statement; Table 6. Schedule D-Investments of Federal Government Accounts in Federal Securities, September 2014)

The Real Owner of the U.S. Debt Will Surprise You

No one "stole" Social Security.

 

[BluesLegend]

Government turned SS into a slush fund and ripped us off. They spent over $2 trillion dollars of our money and gave us worthless IOU's. How are they going to pay us back hold a fucking bake sale?

Here's what's going to happen...

1. Government is going to fuck taxpayers over by raising the retirement age in the hopes that people just die before they can collect benefits. Do you really want to be working a full time job when you are 70 years old?

2. Government is going to force people to pay SS taxes on every dime of income. So instead of paying the current maximum of $18,130 in SS taxes a year (combined personal/employer or self employed) people will be forced continue paying a whopping 15.3% on every dollar over the current $118,500 limit but will receive no additional benefit. A lot of middle class families are going to get hit with this.

3. Government will implement means testing to fuck some people out of their SS benefits altogether even though they were forced to pay into the system for decades.

Its not a theory all three of the above have been proposed by government multiple times.

 

[Lakhota]

Government turned SS into a slush fund and ripped us off. They spent over $2 trillion dollars of our money and gave us worthless IOU's. How are they going to pay us back hold a fucking bake sale?

Here's what's going to happen...

1. Government is going to fuck taxpayers over by raising the retirement age in the hopes that people just die before they can collect benefits. Do you really want to be working a full time job when you are 70 years old?

2. Government is going to force people to pay SS taxes on every dime of income. So instead of paying the current maximum of $18,130 in SS taxes a year (combined personal/employer or self employed) people will be forced continue paying a whopping 15.3% on every dollar over the current $118,500 limit but will receive no additional benefit. A lot of middle class families are going to get hit with this.

3. Government will implement means testing to fuck some people out of their SS benefits altogether even though they were forced to pay into the system for decades.

Its not a theory all three of the above have been proposed by government multiple times.

Are you suggesting that China, Japan and other major holders of U.S. debt are stupid. Most intelligent folks will tell you that investing in U.S. government securities are the safest investment.

 

[BluesLegend]

Government turned SS into a slush fund and ripped us off. They spent over $2 trillion dollars of our money and gave us worthless IOU's. How are they going to pay us back hold a fucking bake sale?

Here's what's going to happen...

1. Government is going to fuck taxpayers over by raising the retirement age in the hopes that people just die before they can collect benefits. Do you really want to be working a full time job when you are 70 years old?

2. Government is going to force people to pay SS taxes on every dime of income. So instead of paying the current maximum of $18,130 in SS taxes a year (combined personal/employer or self employed) people will be forced continue paying a whopping 15.3% on every dollar over the current $118,500 limit but will receive no additional benefit. A lot of middle class families are going to get hit with this.

3. Government will implement means testing to fuck some people out of their SS benefits altogether even though they were forced to pay into the system for decades.

Its not a theory all three of the above have been proposed by government multiple times.

Are you suggesting that China, Japan and other major holders of U.S. debt are stupid. Most intelligent folks will tell you that investing in U.S. government securities are the safest investment.

You really are uninformed, embarrassingly so.

 

[Toro]

The most popular response to the question how did Social Security go off track is : someone (insert a variety of names) stole the money. Chris Christie - the only candidate willing to talk about Social Security - has invoked the crazy card in both of the GOP debates. They stole it without ever asserting who 'they' is.

There is exactly zero evidence that any money has been misused. What people call 'worthless IOUs', investment professionals call cash equivalents. The Trust Fund today is what separates us from immediate 12% reduction in benefits.

It is easier for people to believe that someone stole the money rather than the system is simply broken, spinning promises out of control.

The longer article is now Independent Voter News,
Despite What You've Heard, No One Is Stealing from Social Security - IVN.us

No money has been "stolen" from Social Security.

 

[Lakhota]

Government turned SS into a slush fund and ripped us off. They spent over $2 trillion dollars of our money and gave us worthless IOU's. How are they going to pay us back hold a fucking bake sale?

Here's what's going to happen...

1. Government is going to fuck taxpayers over by raising the retirement age in the hopes that people just die before they can collect benefits. Do you really want to be working a full time job when you are 70 years old?

2. Government is going to force people to pay SS taxes on every dime of income. So instead of paying the current maximum of $18,130 in SS taxes a year (combined personal/employer or self employed) people will be forced continue paying a whopping 15.3% on every dollar over the current $118,500 limit but will receive no additional benefit. A lot of middle class families are going to get hit with this.

3. Government will implement means testing to fuck some people out of their SS benefits altogether even though they were forced to pay into the system for decades.

Its not a theory all three of the above have been proposed by government multiple times.

Are you suggesting that China, Japan and other major holders of U.S. debt are stupid. Most intelligent folks will tell you that investing in U.S. government securities are the safest investment.

You really are uninformed, embarrassingly so.

China is the largest holder, holding $1.712 trillion in June 2015. Japan is next, at $1.197 trillion.

The Real Owner of the U.S. Debt Will Surprise You

Even if the U.S. still held all Social Security funds in cash, if the U.S. government crashed, do you think Social Security recipients would receive any of it? So, whether held in cash or IOU's - it all depends on the stability of the U.S. government. Also, if Social Security wasn't receiving interest on the loan to Uncle Same - where would that Social Security money be invested?

What's the Safest Way to Invest Your Money?

 

[Lakhota]

The most popular response to the question how did Social Security go off track is : someone (insert a variety of names) stole the money. Chris Christie - the only candidate willing to talk about Social Security - has invoked the crazy card in both of the GOP debates. They stole it without ever asserting who 'they' is.

There is exactly zero evidence that any money has been misused. What people call 'worthless IOUs', investment professionals call cash equivalents. The Trust Fund today is what separates us from immediate 12% reduction in benefits.

It is easier for people to believe that someone stole the money rather than the system is simply broken, spinning promises out of control.

The longer article is now Independent Voter News,
Despite What You've Heard, No One Is Stealing from Social Security - IVN.us

No money has been "stolen" from Social Security.

I agree! It has been invested in safe U.S. government securities.

 

[BluesLegend]

Government turned SS into a slush fund and ripped us off. They spent over $2 trillion dollars of our money and gave us worthless IOU's. How are they going to pay us back hold a fucking bake sale?

Here's what's going to happen...

1. Government is going to fuck taxpayers over by raising the retirement age in the hopes that people just die before they can collect benefits. Do you really want to be working a full time job when you are 70 years old?

2. Government is going to force people to pay SS taxes on every dime of income. So instead of paying the current maximum of $18,130 in SS taxes a year (combined personal/employer or self employed) people will be forced continue paying a whopping 15.3% on every dollar over the current $118,500 limit but will receive no additional benefit. A lot of middle class families are going to get hit with this.

3. Government will implement means testing to fuck some people out of their SS benefits altogether even though they were forced to pay into the system for decades.

Its not a theory all three of the above have been proposed by government multiple times.

Are you suggesting that China, Japan and other major holders of U.S. debt are stupid. Most intelligent folks will tell you that investing in U.S. government securities are the safest investment.

You really are uninformed, embarrassingly so.

China is the largest holder, holding $1.712 trillion in June 2015. Japan is next, at $1.197 trillion.

The Real Owner of the U.S. Debt Will Surprise You

Even if the U.S. still held all Social Security funds in cash, if the U.S. government crashed, do you think Social Security recipients would receive any of it? So, whether held in cash or IOU's - it all depends on the stability of the U.S. government. Also, if Social Security wasn't receiving interest on the loan to Uncle Same - where would that Social Security money be invested?

What's the Safest Way to Invest Your Money?

Ahahaha so you doubled down on it . Were you living in a cave when China threw a hissy fit about the US printing gobs of money devaluing the US debt they are holding? Go back to watching cartoons and leave the grown up thinking to the grown ups.

 

[Rustic]

The most popular response to the question how did Social Security go off track is : someone (insert a variety of names) stole the money. Chris Christie - the only candidate willing to talk about Social Security - has invoked the crazy card in both of the GOP debates. They stole it without ever asserting who 'they' is.

There is exactly zero evidence that any money has been misused. What people call 'worthless IOUs', investment professionals call cash equivalents. The Trust Fund today is what separates us from immediate 12% reduction in benefits.

It is easier for people to believe that someone stole the money rather than the system is simply broken, spinning promises out of control.

The longer article is now Independent Voter News,
Despite What You've Heard, No One Is Stealing from Social Security - IVN.us

It is/was a dumb a$$ concept from the start...
Progressives are incredibly gullible.

 

[whitehall]

Democrat administrations were stealing FICA taxes immediately after the first windfall was confiscated. Crooked old LBJ made it "legal" when he issued a decree that the FICA taxes would be thrown into the "general fund". There never was a locked box.

 

[Lakhota]

Democrat administrations were stealing FICA taxes immediately after the first windfall was confiscated. Crooked old LBJ made it "legal" when he issued a decree that the FICA taxes would be thrown into the "general fund". There never was a locked box.

So what? It's all invested in safe government securities and drawing interest. What's the problem?