So CNBC is a RWI, what ever that is.
The financial outlook for Social Security and Medicare, two of the nation's preeminent safety net programs, has deteriorated over the past year due to Covid.
www.cnbc.com
You ignorant commies are really delusional.
.
You communist want to get rid of it completely.
Since Reagan, the GOP has been claiming SS is going broke.
May 21 1981
'As you know, the Social Security System is teetering on the edge of bankruptcy…in the decades ahead its unfunded obligations could run well into the trillions. Unless we in government are willing to act, a sword of Damocles will soon hang over the welfare of millions of our citizens'.
They made sure of it by stealing from it.
Reagan is still revered by a lot of Americans. This reverence for Ronald Reagan helps to explain how he was able to fool most of the American people to a degree unparalleled by any other modern president. With the help of Alan Greenspan, Reagan pulled off one of the greatest frauds ever perpetrated against the American people.
It is so ironic that many people, today, still believe that Ronald Reagan came galloping up on a great white horse to sound the alarm that Social Security was in deep financial trouble.
He then allegedly figured out a solution to the problem and rammed his legislative proposal through Congress in a three-month period. On April 20, 1983, the signing ceremony for the new legislation took place with great fanfare. Below are some of Reagan’s remarks at the signing ceremony.
'This bill demonstrates for all time our nation’s ironclad commitment to social security. It assures the elderly that America will always keep the promises made in troubled times a half a century ago.
It assures those who are still working that they, too, have a pact with the future. From this day forward, they have our pledge that they will get their fair share of benefits when they retire'…
The Social Security Amendments of 1983 laid the foundation for 30-years of federal embezzlement of Social Security money in order to use the money to pay for wars, tax cuts and other government programs. The payroll tax hike of 1983 generated a total of $2.7 trillion in surplus Social Security revenue.
Supply-side economics was not working like Reagan had promised. Instead of the lower tax rates generating more revenue as the supply-siders claimed would happen, there was a dramatic drop in revenue. Something had to be done, so Ronald Reagan set for himself a new mission. He would have to figure out a way to get the additional revenue he needed from another source.
The mechanism, which allowed the government to transfer $2.7 trillion from the Social Security fund to the general fund over a 30-year period, was the brainchild of President Ronald Reagan and his advisers, especially Alan Greenspan.
