And Congressman, there's a cell with your name on it too
I started writing this the day I heard Bernie Ebbers (of WorldCom fame) was sentenced to 25 years in prison. Now, it's well proven that he was the head of an organization that perpetrated the largest private financial fraud in U.S. history. What he and WorldCom did was use liabilities as assets to improve the financial picture of WorldCom. And the resultant fraud collapsed WorldCom. Amount? About $11,000,000,000. Now, if any of you know how Social Security is truly run, that is exactly how monies from you to "fund" the trust fund are used.
The Social Security Administration lends its "contributions" (FICA [aka Social Security] on your paycheck stands for Federal Insurance Contributions Act) to the U.S. Treasury, which then includes them in the General Fund as assets. And they are then spent (see below). This is the same as you or me getting a $1,000,000 loan from the bank, putting it in our savings account, which we then spend, and then go around telling everyone that we're millionaires. Uh, no, we OWE $1,000,000. We are in DEBT $1,000,000. And yet, the Treasury and Congress and the President have been doing this for over 40 years. To the tune of trillions (not mere billions) of dollars.
So, when I saw the WorldCom executives being led out of their offices in handcuffs (picture above), I thought : "Are the Feds on their way to Congress to arrest all the Congress?"
A multi-trillion dollar fraud. And they keep being elected.
"Do you know where your Social Security taxes are? Some of them went to pay for the National Cowgirl Hall of Fame and Museum in Fort Worth, Texas. The same monies helped the State Historical Society of Iowa in Des Moines pay for the development of exhibits for the World Food Prize. And we should all be happy that some of our Social Security surplus funded a study of mariachi music for the Clark County (Nevada) School District. As we know by now, Social Security is facing many problems that will require long-term, comprehensive reform. But before a doctor operates on a patient, the first step is to stop the bleeding. And the first step toward Social Security reform should be to stop Congress from spending Social Security money on anything except workers' retirement." --Michael Tanner
However, the only real reform is to end Social Security (http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=42013 )(which by the way, is unconstitutional) so the people in Washington can not fool with it. At all.
posted by Amendment X at 2:04 PM permalink
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