Who Stole Social Security

[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

 

[CrusaderFrank]

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

 

[JakeStarkey]

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

And?

 

[healthmyths]

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

From the Trustees' Report: Trustees Report Summary

The Disability Income (DI) program satisfies neither the Trustees’ long-range test of close actuarial balance nor our short-range test of financial adequacy and faces the most immediate financing shortfall of any of the separate trust funds.
DI Trust Fund reserves expressed as a percent of annual cost (the trust fund ratio) declined to 40 percent at the beginning of 2015,
and the Trustees project trust fund depletion late in 2016, the same year projected in the last Trustees Report.
Interest income and redemption of trust fund assets from the General Fund of the Treasury, will provide the resources needed to offset Social Security’s annual aggregate cash-flow deficits until 2034. Since the cash-flow deficit will be less than interest earnings through 2019, total income will exceed expenditures and reserves of the combined trust funds will continue to grow but not by enough to prevent the ratio of reserves to one year’s projected cost (the combined trust fund ratio) from declining.

So who is stealing? Well the millions of more people that have decided they can live on SS Disability income rather then working.
Who are these people? See the below study:
EXography: Many disability recipients admit they could work

In 2009, the Social Security Administration conducted a detailed study of disability recipients' characteristics, desire to work and their impediments from doing so. The survey included responses from 2,300 disability benefits recipients.
There are approximately 11 million SSDI recipients and approximately seven million SSI recipients.[Note this were 2009 figures--below are current]

-- 21% been on for 20 years or more
-- Returning to work is not a goal for 71 percent of the SSDI recipients, 60 percent of the SSI recipients.
-- Unearned disability, called SSI, is for individuals who have petitioned to be classified as disabled.

Many of them have never worked and have never paid into Social Security.
Earned disability, or SSDI, is for those who have held jobs for significant periods of time and
paid at least partially into Social Security before becoming disabled.

So NOT only are these people on SS DI NOT TAKING Money from the SS funds BUT they are never going back to work to PAY any SS taxes!

This is a problem!!!

 

[CrusaderFrank]

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

And?

I'll get crayons later to draw a picture so you can understand

 

[Dad2three]

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

Oh you mean the nearly $3 trillion in excess payments when Ronnie Raygun "saved SS" and increased taxes on the working man, as he gutted taxes on the rich and tripled the debt (not counting the excess $3 trillion the next 30 years)?

 

[NYcarbineer]

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

Government bonds ARE assets fuckwit.

 

[Dad2three]

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

From the Trustees' Report: Trustees Report Summary

The Disability Income (DI) program satisfies neither the Trustees’ long-range test of close actuarial balance nor our short-range test of financial adequacy and faces the most immediate financing shortfall of any of the separate trust funds.
DI Trust Fund reserves expressed as a percent of annual cost (the trust fund ratio) declined to 40 percent at the beginning of 2015,
and the Trustees project trust fund depletion late in 2016, the same year projected in the last Trustees Report.
Interest income and redemption of trust fund assets from the General Fund of the Treasury, will provide the resources needed to offset Social Security’s annual aggregate cash-flow deficits until 2034. Since the cash-flow deficit will be less than interest earnings through 2019, total income will exceed expenditures and reserves of the combined trust funds will continue to grow but not by enough to prevent the ratio of reserves to one year’s projected cost (the combined trust fund ratio) from declining.

So who is stealing? Well the millions of more people that have decided they can live on SS Disability income rather then working.
Who are these people? See the below study:
EXography: Many disability recipients admit they could work

In 2009, the Social Security Administration conducted a detailed study of disability recipients' characteristics, desire to work and their impediments from doing so. The survey included responses from 2,300 disability benefits recipients.
There are approximately 11 million SSDI recipients and approximately seven million SSI recipients.[Note this were 2009 figures--below are current]
View attachment 50646
-- 21% been on for 20 years or more
-- Returning to work is not a goal for 71 percent of the SSDI recipients, 60 percent of the SSI recipients.
-- Unearned disability, called SSI, is for individuals who have petitioned to be classified as disabled.

Many of them have never worked and have never paid into Social Security.
Earned disability, or SSDI, is for those who have held jobs for significant periods of time and
paid at least partially into Social Security before becoming disabled.

So NOT only are these people on SS DI NOT TAKING Money from the SS funds BUT they are never going back to work to PAY any SS taxes!

This is a problem!!!

Without false premises, distortions and lies, what would right wingers EVER have?

 

[Dad2three]

 

[JakeStarkey]

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

And?

I'll get crayons later to draw a picture so you can understand

Ask the activities aide there at the old folks home to get you some.

 

[CrusaderFrank]

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

Government bonds ARE assets fuckwit.

Not when they can only be sold to the Federal Government.

They're Fugazis

 

[CrusaderFrank]

LBJ robbed the trust fund to pay for his Vietnam War.

I can't identify who then changed the assets in the Trust Fund so that they're virtually worthless and can only be sold to the US government

 

[Luddly Neddite]

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

Oh you mean the nearly $3 trillion in excess payments when Ronnie Raygun "saved SS" and increased taxes on the working man, as he gutted taxes on the rich and tripled the debt (not counting the excess $3 trillion the next 30 years)?

And made us into a debtor nation.

 

[Dad2three]

LBJ robbed the trust fund to pay for his Vietnam War.

I can't identify who then changed the assets in the Trust Fund so that they're virtually worthless and can only be sold to the US government

THE CORRECT ANSWERS TO THE FIVE QUESTIONS

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

STUPID RIGHT WINGERS

 

[Claudette]

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

Yup and it was doing just fine till LBJ needed money for the Vietnam war.

He put SS in the General Fund and they have been robbing it blind ever since.

Want to blame someone for the condition of SS? Blame the Democrat LBJ.

 

[Soggy in NOLA]

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

Government bonds ARE assets fuckwit.

So are receivables, but they are only as good as the debtors ability to pay.... fuckwit.

 

[Soggy in NOLA]

LBJ robbed the trust fund to pay for his Vietnam War.

I can't identify who then changed the assets in the Trust Fund so that they're virtually worthless and can only be sold to the US government

THE CORRECT ANSWERS TO THE FIVE QUESTIONS

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

STUPID RIGHT WINGERS

Seek help... your obsession with Reagan is very unhealthy.

 

[CrusaderFrank]

LBJ robbed the trust fund to pay for his Vietnam War.

I can't identify who then changed the assets in the Trust Fund so that they're virtually worthless and can only be sold to the US government

THE CORRECT ANSWERS TO THE FIVE QUESTIONS

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

STUPID RIGHT WINGERS

Bernie Madoff tried that accounting, look where it got him

 

[Dad2three]

LBJ robbed the trust fund to pay for his Vietnam War.

I can't identify who then changed the assets in the Trust Fund so that they're virtually worthless and can only be sold to the US government

THE CORRECT ANSWERS TO THE FIVE QUESTIONS

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

STUPID RIGHT WINGERS

Bernie Madoff tried that accounting, look where it got him

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.

 

[Dad2three]

LBJ robbed the trust fund to pay for his Vietnam War.

I can't identify who then changed the assets in the Trust Fund so that they're virtually worthless and can only be sold to the US government

THE CORRECT ANSWERS TO THE FIVE QUESTIONS

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

STUPID RIGHT WINGERS

Seek help... your obsession with Reagan is very unhealthy.

Oh right Ronnie ONLY gets credit for policy you Klowns like